| Net Worth | $700 Million |
|---|---|
| Salary | N/A |
| Birthdate | Jan 27, 1933 – Feb 18, 2013 (80 years old) |
| Birthplace | Salt Lake City |
| Gender | Male |
| Height | N/A |
| Profession | Chemist, Businessperson, Real estate entrepreneur, Professional Poker Player, Philanthropist |
| Nationality | United States of America |
What is Dr Jerry Buss’ Net Worth?
Dr. Jerry Buss, an American entrepreneur and professional sports team owner, had an estimated net worth of $700 million at the time of his death in 2013. Buss accumulated his wealth through his successful ventures in the real estate business and as the owner of the Los Angeles Lakers basketball team.
Highlights
– Dr. Jerry Buss had a net worth of $700 million at the time of his death in 2013.
– He earned his first fortune in the real estate business before becoming the owner of the Los Angeles Lakers.
– Buss was also the owner of the Los Angeles Sparks (WNBA), the Los Angeles Kings (NHL), and the Los Angeles Lazers (soccer).
Early Life
Jerry Buss was born on January 27, 1933, in Salt Lake City, and was raised in Kemmerer, Wyoming. He grew up in a challenging environment as his single mother struggled to make ends meet during the Great Depression. Despite the hardships, Buss managed to earn a scholarship to the University of Wyoming, where he graduated within just 2.5 years. He further pursued his education at the University of Southern California and obtained an MS and Ph.D. in chemistry.
Career
After completing his studies, Buss initially worked as a chemist and briefly in the aerospace industry. However, he soon returned to the University of Southern California as a faculty member in the chemistry department. During his time at USC, Buss began investing in real estate around Los Angeles to supplement his income.
Buss quickly discovered success in real estate and eventually decided to focus entirely on this venture. His investments brought him substantial wealth and provided the foundation for his future endeavors.
In 1979, Buss made a groundbreaking move by purchasing the Los Angeles Lakers, the Los Angeles Kings, and the Forum sports arena for a total of $67.5 million. One year after the acquisition, the Lakers won their first of ten NBA championships under Buss’ ownership.
Throughout his ownership, Buss played a vital role in transforming the Lakers into one of the most successful and valuable sports franchises. At the time of his death in 2013, the Lakers were worth $1 billion. Today, the team is valued at over $6.5 billion.
Personal Life
Aside from his achievements in business and sports, Buss was also a talented professional poker player. However, on February 18, 2013, he passed away after a prolonged battle with cancer at a Los Angeles hospital. Buss left behind six children, all of whom continue to be closely involved in the Lakers organization.
Net Worth Over Time
At the time of his death in 2013, Dr. Jerry Buss had an estimated net worth of $700 million. This value primarily stemmed from his ownership of the Los Angeles Lakers and his successful real estate investments.
Components of Net Worth
Dr. Jerry Buss’ net worth was predominantly derived from two key sources:
1. Real Estate Investments: Buss initially started investing in real estate to supplement his income as a faculty member at the University of Southern California. His successful ventures in the Los Angeles real estate market allowed him to accumulate substantial wealth.
2. Ownership of the Los Angeles Lakers: The majority of Buss’ net worth came from his ownership of the Los Angeles Lakers basketball team. Under his leadership, the Lakers achieved tremendous success and became one of the most valuable sports franchises in the world.
While the exact breakdown of Buss’ net worth between real estate and the Lakers is not explicitly stated, it can be inferred that a significant portion of his wealth came from his ownership of the basketball team.
Throughout his life, Dr. Jerry Buss established himself as a visionary entrepreneur and the driving force behind the remarkable success of the Los Angeles Lakers. His impactful contributions to both the business and sports worlds continue to be remembered and celebrated today.