Jeanie Buss Net Worth: How did the owner of the Los Angeles Lakers make her fortune?

Jeanie Buss is one of the most recognizable figures in the sports world, and as the owner and president of the Los Angeles Lakers, she is among the few women who have reached the pinnacle of sports franchise leadership. A powerful and influential figure in both the business and sports communities, Jeanie Buss’s journey to the top has been one marked by grit, strategic decisions, and a legacy built on family and sportsmanship. Her wealth, career, and success reflect not only her personal skills and leadership but also her inheritance of one of the most valuable sports franchises in the world.

As of 2023, Jeanie Buss’s estimated net worth is around $500 million, a remarkable achievement considering the diverse paths through which she has accumulated her wealth. From family ownership and strategic management to her personal ventures, Jeanie’s rise to prominence is a unique story of resilience, ambition, and the ability to turn opportunities into success. This article delves into how Jeanie Buss made her fortune and how she continues to lead the Los Angeles Lakers into the future.

Early Life and Family Legacy

Jeanie Buss was born on September 26, 1961, in Santa Monica, California. Her father, Jerry Buss, was a highly successful businessman and sports mogul, while her mother, Karen Buss, was also involved in the family’s business ventures. Jerry Buss made his fortune through real estate investments and his ownership of various sports teams. In 1979, he purchased the Los Angeles Lakers, marking the beginning of a new era for both the team and his family.

Growing up in a household with such immense wealth and success, Jeanie was exposed to the world of professional sports from a young age. The Lakers, during this time, were in the middle of their “Showtime” era, with legendary players like Magic Johnson, Kareem Abdul-Jabbar, and James Worthy leading the charge. The Lakers’ dominance in the NBA during the 1980s became a significant part of Jeanie’s upbringing, providing her with a front-row seat to the mechanics of running one of the most successful sports franchises in history.

From a young age, Jeanie showed a keen interest in business and sports management. She earned a degree in business from the University of Southern California (USC), which set her on the path to help lead the Lakers into the future. In 1995, Jeanie’s father, Jerry Buss, appointed her to the Lakers’ executive team, where she began her career in the front office. Over the years, Jeanie’s role within the organization evolved, and she quickly became an essential figure in the Lakers’ operations, making decisions on both the business and basketball sides of the franchise.

Jerry Buss’s Legacy and the Transition to Ownership

In 2013, the world was rocked by the death of Jerry Buss. His passing left the Lakers in the hands of his children, with Jeanie Buss assuming control of the team. However, the transition of power was not without its challenges. Although Jeanie had been involved in the Lakers’ day-to-day operations for years, it was now her responsibility to guide the team through an uncertain period. Jeanie’s leadership came at a time when the Lakers were undergoing significant changes, including a decline in on-court performance, roster issues, and questions about the future of the team.

Jeanie was not the only Buss child involved with the Lakers. Her brothers, Jim Buss and Johnny Buss, also had roles in the family business, with Jim taking on a leadership role in the basketball operations department. However, Jeanie’s influence over the team quickly became evident. Under her leadership, the Lakers made several important moves to stabilize the franchise.

In 2017, Jeanie made a pivotal decision by hiring Magic Johnson as the team’s president of basketball operations. This move was part of a strategy to bring the Lakers back into contention after several years of underperformance. The decision to bring in Johnson, a Lakers legend, was symbolic and practical, combining his basketball expertise with Jeanie’s sharp business acumen. While the Lakers would experience some growing pains, Jeanie’s leadership provided the stability and direction necessary for the team to rebound.

One of Jeanie’s most defining moments came when she successfully convinced LeBron James, one of the NBA’s all-time greatest players, to sign with the Lakers in 2018. LeBron’s decision to join the Lakers, combined with the subsequent acquisition of Anthony Davis in 2019, set the stage for the Lakers’ return to championship contention. The Lakers won the 2020 NBA Championship, their first title since 2010, and Jeanie’s leadership was widely credited for navigating the Lakers through a challenging and tumultuous period. The victory marked a full-circle moment for Jeanie, who had grown up around championship-winning Lakers teams and was now at the helm of one herself.

Business Ventures and Investments

While Jeanie Buss’s fortune is largely tied to her ownership of the Los Angeles Lakers, she has also engaged in various business ventures and investments over the years. These ventures have helped diversify her wealth, ensuring that she has multiple streams of income in addition to the Lakers.

In 1995, Jeanie co-founded the Lakers’ sister company, Aegis. The company’s focus was on sports entertainment, including the marketing and management of athletes and entertainers. Though Aegis was eventually sold, the company gave Jeanie experience in navigating the entertainment and sports worlds. Through Aegis, Jeanie was able to make strategic relationships and build a network that would later benefit her as she took control of the Lakers.

In addition to her work with the Lakers and Aegis, Jeanie Buss has also been involved in other business ventures, including real estate investments. Real estate was a major part of her father’s wealth, and Jeanie has continued to manage and grow the family’s extensive real estate portfolio. These investments, particularly in Southern California, have been a key contributor to her wealth. Buss family holdings include a variety of properties in commercial and residential markets, which provide significant rental income and long-term asset appreciation.

Role in the WNBA and Other Sports Ownership

Jeanie Buss’s influence in sports is not limited to the NBA. In 2014, she became the owner of the Los Angeles Sparks, a WNBA team based in Los Angeles. As a female owner in the WNBA, Jeanie has been a trailblazer for women in sports ownership. Her leadership of the Sparks has mirrored her approach with the Lakers—focused on empowerment, equality, and creating a winning culture. While the Sparks have not reached the same level of success as the Lakers, Jeanie’s role as the team’s owner has further solidified her as a prominent figure in the sports world.

Jeanie’s involvement in the WNBA and other areas of sports also demonstrates her ability to leverage her family’s sports legacy to invest in a wide range of ventures. She is a passionate advocate for women’s sports and has worked to provide more visibility and financial support for the WNBA.

Public Persona and Influence

Beyond her wealth and ownership of two major sports franchises, Jeanie Buss has become an influential figure in the sports world, regularly appearing in the media as a prominent businesswoman. Her leadership style is often lauded for its focus on teamwork, integrity, and a long-term vision. She is a vocal advocate for increasing opportunities for women in sports, both on and off the court, and her rise to the top of the NBA ranks is a testament to her dedication and perseverance.

Jeanie has also used her platform to advocate for diversity and inclusion in sports, particularly in the areas of coaching, management, and executive leadership. As one of the most prominent women in professional sports ownership, Jeanie has broken down barriers and paved the way for future generations of female leaders in the industry.

Her influence extends beyond sports, as she has appeared in documentaries, interviews, and television appearances, where she has shared insights on both business and basketball. Jeanie’s presence in the media has made her a role model for aspiring business leaders, particularly women hoping to follow in her footsteps in traditionally male-dominated industries.

The Lakers and the Buss Family Legacy

As the Lakers continue to be one of the most valuable and successful franchises in sports, Jeanie Buss’s fortune continues to grow. The Lakers have an estimated value of $5.5 billion (as of 2023), ranking them among the top NBA franchises. Jeanie’s role as the team’s owner and president, along with her strategic decisions, has played a significant part in maintaining the Lakers’ position at the top of the sports world.

Jeanie’s net worth, while substantial, is also intricately tied to the future of the Lakers, which remains a family business. The Buss family’s control of the Lakers ensures that Jeanie has a lasting influence on the team’s direction, and her leadership will continue to shape the franchise for years to come. Her wealth will likely grow further as the Lakers maintain their status as a premier NBA franchise, both on and off the court.