Jeanie Buss Net Worth (Money & Salary)

What Is Jeanie Buss’ Net Worth?

Jeanie Buss, an American sports executive, has a net worth estimated at $700 million. She is the daughter of the late Jerry Buss, former owner of the Los Angeles Lakers, and currently holds the position of President and controlling owner of the team.

After the passing of Jerry in 2013, Jeanie and her five siblings inherited his 66% stake in the Lakers. By 2017, the siblings granted Jeanie full control over the team’s decisions, while each sibling retains an equal 11% stake in the franchise. With the Lakers valued at $6.5 billion, each 11% stake translates to around $715 million.

Beginning her career at the age of 19, Jeanie became the general manager of the professional tennis team Los Angeles Strings. She later owned the roller hockey team Los Angeles Blades and served as president of the Great Western Forum. Subsequently, after her father’s death, she took on the role of vice president of the Lakers. Additionally, she co-owns and promotes Women of Wrestling (WOW).

In 2023, Jeanie Buss earned a Sports Emmy Award for her role as executive producer of “Legacy: The True Story of the LA Lakers.”

Lakers Ownership Stake

Following Jerry Buss’ demise in 2013, a family trust bequeathed his six children a 66% ownership of the Lakers, which means each child possesses approximately 11% of the team. Given that the Phoenix Suns were sold in late 2022 for a valuation of $4 billion, it’s reasonable to estimate that the Lakers could be valued at around $6.5 billion. Thus, each child’s 11% stake is valued at about $750 million.

Other current owners of the Lakers include:

• Mark Walter and Todd Boehly: 26%. These co-founders of major financial firms Guggenheim Partners and Eldridge acquired their 27% stake from Phil Anschutz, the founder of AEG.
• Ed Roski: 8%. A billionaire real estate developer, Ed owns nearly 90 million square feet of commercial real estate across the US and purchased his 8% stake in the Lakers back in 1998.

In 2017, Jeanie faced an attempt from her brother Johnny to take control of the Lakers. After a prolonged struggle, the attempt concluded with Jeanie gaining even more authority over the team. She now oversees all Laker decisions for the family and sits on the NBA’s Board of Governors representing the franchise.

Early Life and Family

Born on September 26, 1961, in Santa Monica, California, Jeanie Marie Buss grew up with three siblings, raised by Joann and Jerry Buss. She was relatively young when her father began to achieve success in the real estate sector, starting with his investment in a West Los Angeles apartment building during the 1960s. This launched a series of successful ventures for Jerry, who held a Ph.D. in physical chemistry. Ultimately, he and business partner Frank Mariani established Mariani-Buss Associates, a real estate investment firm.

While Jerry’s divorce from Joann left Jeanie grappling with emotional challenges, she maintained a strong bond with her father. It was during this period that Jerry began accumulating various sports teams, including the Los Angeles Strings, Los Angeles Kings, and the Los Angeles Lakers. At 14, Jeanie began attending World Team Tennis meetings with her father, learning invaluable lessons that would benefit her management of the Strings later. At 17, she chose to live with her father full-time.

Even though Jerry sold his controlling interest in the Kings, he remained dedicated to actively managing the Lakers. As part of his succession of sports-related acquisitions,Buss also acquired The Forum for $67.5 million. Throughout Buss’ tenure, the Lakers secured ten championships and assembled an all-star roster that featured talents such as Magic Johnson, Shaquille O’Neal, James Worthy, and Kobe Bryant. Jerry was instrumental in transforming the Lakers into a franchise valued at $1 billion.

Career

While gaining insights into sports management and business from her father, Jeanie pursued higher education. She enrolled at the University of Southern California, graduating with honors after specializing in business. During her university years, Jerry designated the 19-year-old Jeanie as the manager of the Los Angeles Strings. Following her ownership of the Los Angeles Blades in Roller Hockey International, Jeanie dedicated four years as the president of the Great Western Forum – the Lakers’ venue at that time.

Ultimately, she demonstrated her business acumen to Jerry, who envisioned her managing the business aspects of the Lakers, while her brother Jim focused on sports operations. By 2005, she emerged as one of the most prominent women in the realm of sports. Following Jerry’s passing in 2013, Buss made the decision to terminate both General Manager Mitch Kupchak and her brother Jim, who was the Vice President of Basketball Operations.

Personal Life

Jeanie tied the knot with professional volleyball player Steve Timmons in 1990, but they divorced three years later, citing that her career took precedence over their marriage.

In late 1999, Jeanie began a relationship with Phil Jackson, the former head coach of the Lakers. They never wed, and their separation was announced in 2016.

Following this, Jeanie started dating comedian Jay Mohr in 2017. They became engaged in December 2022 and exchanged vows in Malibu in September 2023.

In 1995, Jeanie appeared nude in “Playboy” magazine.

Real Estate

In 2019, Buss divested from her home in Playa Vista for $2.575 million. She had initially acquired the property for $2.45 million in 2017. Although the home was first listed at $225,000 more than its final sale price, she accepted the adjusted offer. Nonetheless, Buss undertook renovations to enhance the home’s appeal for prospective buyers, applying a fresh coat of neutral paint and adding modern fixtures before relisting the property. Her former Playa Vista residence features nearly 3,200 square feet of living space and rests on a corner lot. It includes amenities such as a flagstone patio, French doors, and a three-car garage. Reports suggest that Buss owns an additional property in Playa Vista, having purchased a four-bedroom condo in 2018.

In 2020, Jeanie acquired a new residence in the Playa del Rey area of Los Angeles, for which she paid $2.6 million.

The residence is conveniently located a few miles from Los Angeles International Airport. This four-bedroom waterfront property boasts notable features such as a pool, a spa, and a gym. Set within the Breakers complex, a gated community in the Playa del Rey area, this 2,200-square-foot home represents Buss’s first waterfront acquisition, despite her past investments in various properties across the LA area.