Dr Jerry Buss Net Worth 2024

What was Jerry Buss’ net worth?

Dr. Jerry Buss was an American entrepreneur {and professional} sports activities staff proprietor who had a net worth of $700 million on the time of his dying in 2013. Jerry Buss earned his first fortune in the actual property enterprise. He then earned a a lot bigger fortune (and fame) because the proprietor of the Los Angeles Lakers basketball staff. He was additionally at one time the proprietor of the Los Angeles Sparks (WNBA), the Los Angeles Kings (NHL), and the Los Angeles Lazers (soccer).

In case you had been pondering that Jerry Buss’ net worth could be a lot increased, maybe within the billions, this is why that isn’t the case: At the time of his dying Jerry’s dying in 2013 the Lakers had been value $900 million – $1 billion. Jerry didn’t personal 100% of the staff. He owned 66%. The remaining 34% was owned by: 8% of the staff was owned by actual property billionaire Ed Roski (who purchased his stake in 1998), and 26% was owned by AEG founder Phil Anschutz (who bought his stake in 2021 to personal fairness billionaires Mark Walter and Todd Boehly). So going again to 2013 when Jerry died, 66% of $900 million – $1 billion is someplace within the vary of $600 – $660 million.

Upon his dying, Jerry’s 66% share of the Lakers was inherited in equal shares by his six kids by way of a family belief. Therefore, every youngster owns roughly 11% of the staff. Today the Lakers are value $6.5 billion. So every 11% stake is value $715 million. From 2013 to 2017 the siblings tried to regulate the staff with equal votes with daughter Jeanie Buss performing primarily because the face of the family. In 2017 Johnny Buss tried a coup to take management away from Jeanie. That coup failed and in the long run the siblings awarded Jeanie 100% management of all Lakers selections.

Jerry Buss / David Klein/Getty Images

Early Life

Jerry Buss was born in Salt Lake City and raised in Kemmerer, Wyoming by a single mom on the top of the Great Depression. One of his earliest recollections was ready on a bread line for meals as a really younger youngster.

Hard work earned Jerry a scholarship to the University of Wyoming the place he graduated in simply 2.5 years. By the time Jerry turned 24, he had obtained an MS and Ph.D in chemistry from the University of Southern California.

Real Estate Investments

After college he labored as a chemist and briefly within the aerospace trade earlier than returning to USC as a school member within the chemistry division. While working at USC, Jerry started investing in actual property round Los Angeles to earn further earnings to complement his instructor’s wage.

Jerry was quickly incomes a lot cash from his facet enterprise that he gave up educating altogether to focus solely on actual property. With time Jerry Buss would change into a really rich man.

(Photo by Jon Kopaloff/Getty Images)

The Lakers

By 1979 Jerry had earned sufficient cash to buy The Lakers, The Kings and The Forum sports activities enviornment. He bought all three for a complete of  $67.5 million (of which simply $16 million was for The Lakers). That’s the inflation adjusted equal of $213 million right now. At the time it was largest sports activities staff buy in historical past.

Within a 12 months The Lakers had received their first of ten NBA championships underneath Jerry’s management. At the time of his dying in 2013, The Lakers had been value $1 billion. They had been one of many first skilled groups to attain a billion-dollar valuation.

Incredibly, right now The Lakers are one of the vital invaluable sports activities franchises on the earth, value upwards of $6.5 billion.

Personal Life

Buss was additionally a gifted poker participant who competed professionally. On February 18, 2013, Dr. Jerry Buss died at a Los Angeles hospital after a protracted battle with most cancers. He is survived by six kids who’re all carefully concerned in The Lakers group.