Jeanie Buss, an American sports executive, has a net worth of $700 million as of 2024. As the President and controlling owner of the Los Angeles Lakers, Buss has become a prominent figure in the sports world. Her journey from managing a professional tennis team at age 19 to leading one of the most valuable franchises in the NBA is a testament to her business acumen and dedication. This article explores her early life, career milestones, personal life, and significant contributions to the Lakers and beyond.
Early Life and Influences
Jeanie Marie Buss was born on September 26, 1961, in Santa Monica, California. She was raised alongside three siblings by her parents, Joann and Jerry Buss. Her father, Jerry Buss, was a successful real estate investor and sports team owner. Jerry’s business ventures included owning the Los Angeles Lakers, the Los Angeles Kings hockey team, and the Los Angeles Strings, a professional tennis team. From a young age, Jeanie was exposed to the world of sports management, often attending World Team Tennis meetings with her father.
The family’s frequent relocations were due to Jerry’s changing job roles, but Jeanie maintained a close relationship with her father. At age 14, she began attending sports meetings, and by age 17, she chose to live with her father full-time. This early exposure to sports management laid the foundation for her future career.
Career Beginnings: Los Angeles Strings and Blades
Jeanie Buss’s career in sports management began at the age of 19 when she became the general manager of the Los Angeles Strings. Her role as GM allowed her to develop her management skills and gain valuable experience in running a professional sports team. She later became the owner of the Los Angeles Blades, a roller hockey team, further expanding her portfolio in sports management.
Rising Through the Ranks: Great Western Forum and the Lakers
After proving her business acumen with the Los Angeles Strings and Blades, Jeanie Buss took on the role of president of the Great Western Forum, the Lakers’ home stadium at the time. Her success in this position solidified her reputation as a capable and influential figure in sports management.
In 2005, Jeanie Buss became the vice president of the Lakers. Her father, Jerry Buss, had always planned for her to manage the business side of the Lakers, while her brother Jim Buss would handle the sports-related decisions. However, after Jerry’s passing in 2013, Jeanie took decisive action to secure the future of the franchise. She fired both General Manager Mitch Kupchak and her brother Jim, who was then serving as VP of Basketball Operations, and assumed full control of the team.
Leadership and Achievements with the Lakers
Under Jeanie Buss’s leadership, the Lakers have continued to thrive as one of the most successful franchises in NBA history. In 2017, Jeanie’s siblings granted her 100% control over Lakers’ decisions, though they each retain an 11% ownership stake. This consolidation of power has allowed Jeanie to make significant decisions for the team’s future.
The Lakers’ valuation has soared under her leadership. As of the latest estimates, the franchise is worth $6.5 billion, making each sibling’s 11% stake worth approximately $715 million. Jeanie’s role as President and controlling owner has been pivotal in maintaining the Lakers’ status as a premier NBA team.
In 2023, Jeanie Buss won a Sports Emmy Award as the executive producer of “Legacy: The True Story of the LA Lakers,” highlighting her contributions to sports media and storytelling.
Personal Life and Relationships
Jeanie Buss has had an eventful personal life. She married professional volleyball player Steve Timmons in 1990, but they divorced three years later. In late 1999, she began dating Phil Jackson, the former head coach of the Lakers. Although they never married, their relationship lasted until 2016.
In 2017, Jeanie began dating comedian Jay Mohr. They announced their engagement in December 2022 and married in Malibu in September 2023.
Jeanie Buss also made headlines in 1995 when she posed nude for Playboy magazine, showcasing her confidence and willingness to break traditional boundaries.
Real Estate Ventures
Jeanie Buss has made several savvy real estate investments over the years. In 2019, she sold her home in Playa Vista for $2.575 million, slightly above her purchase price of $2.45 million in 2017. She had renovated the property with modern fixtures and neutral paint to enhance its appeal.
In 2020, Jeanie acquired a new property in Playa del Rey, Los Angeles, for $2.6 million. The waterfront residence features a pool, spa, gym, and is conveniently located near Los Angeles International Airport. This acquisition marked her first waterfront property, adding to her impressive real estate portfolio.
Philanthropy and Community Engagement
Jeanie Buss is not only a successful businesswoman but also a dedicated philanthropist. She has supported various charitable organizations and initiatives, focusing on youth sports and community development. Her commitment to giving back to the community reflects her understanding of the impact that sports can have on society.
Conclusion
Jeanie Buss’s journey from a young sports manager to the President and controlling owner of the Los Angeles Lakers is a remarkable story of determination, skill, and leadership. With a net worth of $700 million, she has successfully navigated the challenges of the sports industry and emerged as one of its most influential figures. Her contributions to the Lakers, her philanthropic efforts, and her business acumen have solidified her legacy in the world of sports and beyond.
