Jeanie Buss, 61, made history as the first woman to own a championship NBA team when the Los Angeles Lakers won the title in 2020. As the controlling owner and president of the Lakers, she has amassed an estimated net worth of $500 million. Buss, daughter of the late Jerry Buss, the former Lakers owner who passed away in 2013, has diversified her business interests, including co-owning the U.S. women’s professional wrestling promotion, Women of Wrestling.
Lakers Leadership
Jeanie Buss is best known as the president and controlling owner of the Los Angeles Lakers. Following the death of her father, Jerry Buss, in 2013, his six children inherited his controlling 66% stake in the Lakers, with each child receiving about 11%. Given that Forbes values the Lakers at around $5.9 billion, an 11% stake equates to just under $650 million.
In 2017, Buss solidified her control over the Lakers after a legal battle with her brothers Jim and Johnny Buss. She fired Jim from his position as head of basketball operations and executive vice president, securing her role as the controlling owner for life. As CEO, she oversees all aspects of the organization, including basketball operations, marketing, sponsorships, and broadcasting relationships. Buss also represents the Lakers on the NBA Board of Governors and serves on the NBA Advisory and Finance Committee.
Early Management Roles
Before taking the reins of the Lakers, Buss gained valuable experience managing other sports teams owned by her father. At just 19, she was appointed general manager of the Los Angeles Strings, a professional tennis team. This role provided her with early leadership experience and set the stage for her future in sports management. Buss led the Strings to two league titles before the team dissolved in 1993.
Buss also managed the Los Angeles Blades in the Roller Hockey International league, earning praise for her knowledge and leadership skills. Her tenure with the Blades, from 1993 to 1999, further honed her abilities in sports management, leading to her recognition as Executive of the Year by Roller Hockey International.
Business Ventures
In addition to her role with the Lakers, Buss co-owns Women of Wrestling, a professional wrestling promotion. Inspired by tennis legend Billie Jean King and her childhood love of comic book heroines, Buss aims to empower women through this venture. “The women of WOW are some of the strongest people I’ve ever met in my life,” Buss said. “They’re incredibly extraordinary. They are Superheroes.”
Education and Honors
Jeanie Buss graduated from the University of Southern California’s Marshall School of Business with honors in 1985. She now serves as a Trustee for the university. Her father insisted that she complete her education as a condition for making her the owner of the Los Angeles Strings. Reflecting on this, Buss emphasized the importance of education, crediting it with teaching her valuable lessons that have contributed to her success.
Hollywood Ventures
Living in Los Angeles, it’s no surprise that Buss has also dabbled in show business. She served as the executive producer of the Hulu documentary “Legacy: The True Story of the LA Lakers,” which chronicles the rise and success of the Lakers franchise and the internal family struggles for control after Jerry Buss’s death. Buss expressed the importance of sharing her father’s story with a new generation, emphasizing his unique contributions to the sports world.
Additionally, Buss has partnered with Mindy Kaling to develop a Netflix workplace comedy inspired by her experiences with the Lakers. The show, already ordered for ten episodes, will be written by “Modern Family’s” Elaine Ko and will explore the dynamics of NBA ownership and family drama.
Real Estate Ventures
In 2020, Buss purchased a beachside condo in Playa del Rey for $2.6 million. The 2,200-square-foot property features four bedrooms, three bathrooms, and stunning ocean views from its balcony and patio. This purchase came a year after she sold her Mediterranean-style home in Playa Vista for $2.575 million, highlighting her active involvement in the real estate market.
Personal Life and Future Plans
Buss, who is now engaged to actor and comedian Jay Mohr, continues to break barriers and set new standards in the sports industry. She has publicly stated her commitment to keeping the Lakers in the Buss family, honoring her father’s legacy. “I’m not going anywhere. This is exactly what my dad asked me to do. The team is not for sale,” she told the Los Angeles Times.
Conclusion
Jeanie Buss’s journey from managing tennis and roller hockey teams to becoming the first woman to own a championship NBA team is a testament to her resilience, leadership, and business acumen. With a net worth of $500 million and a diverse portfolio of business ventures, Buss continues to make significant strides in the sports world and beyond. Her story serves as an inspiration to many, highlighting the importance of perseverance, education, and innovation in achieving success.