Jerry Buss Net Worth

Jerry Buss was a businessman, a real estate investor, and the owner of a major league team whose net worth is $600 million. Jerry Buss was the main owner of the Los Angeles Lakers basketball franchise, which accounts for the vast majority of his fortune. He was also a past owner of the WNBA’s Los Angeles Sparks, the NHL’s Los Angeles Kings, and the NBA’s Los Angeles Lakers.

What is Jerry Buss’ Net Worth?

Net Worth:$600 Million
Profession:Businessman
Age:80 Years Old
Country:United States
Born:27th January 1933
Salary:$50 Million
Last Updated:2022

Early Life and Education

Gerald Hatten Buss, a Utah native, was born on 27th January 1933 in the city of Salt Lake. Jessie, Buss’ divorced mother, was his primary caregiver as he grew up. Lydus, his father, was a chartered accountant who taught statistics at the University of California, Berkeley after divorce. At the age of nine, he shifted to Los Angeles. When her mother remarried, they migrated to Kemmerer, Wyoming.

Buss attended the University of Wyoming on a scholarship and obtained a bachelor’s degree in 1953. He then relocated to Los Angeles, where he received his M.S. and Ph.D. in physical chemistry at the University of Southern California at the age of 24.

Career

As a Real Estate Entrepreneur

Buss ventured into real estate investing to supplement his earnings and allow him to continue to teach. In the 1960s, he made his initial investment, a $1,000 housing complex in West Los Angeles. He and his longstanding business partner, Frank Mariani, founded Mariani-Buss Associates, a real estate investment firm, after experiencing significant progress in the real estate market. Pickfair, the Beverly Hills house previously held by Mary Pickford and Douglas Fairbanks, was acquired by Buss in 1979 and traded in 1987.

Ownership of Sports Team

By 1979, Jerry had gathered enough money to purchase The Lakers, The Kings, and The Forum sports facility for $67.5 million. In real value, that’s the equivalent of $213 million. It was the greatest sports franchise acquisition in history at the time, and under Jerry’s direction, the Lakers claimed their first of 10 NBA titles in under a year. The Los Angeles Lakers are one of the most successful and well-known franchises of all time, with a market value of over $1 billion.

Buss purchased the Sparks in 2002 when the WNBA reconfigured to enable each squad’s unique owners. In 2006, he gave away the team. Buss also acquired the Major Indoor Soccer League’s Los Angeles Lazers. The Lazers performed at The Forum as well. The team went out of business in 1989, and three years later, the league also went out of business.

In 2010, he was inducted into the Basketball Hall of Fame for his services to the sport. In 1983, the American Academy of Achievement honored Buss with the Golden Plate Award.

As a Poker Player

For several decades, Buss performed in high-stakes cash tournaments, but at a later age, he shifted his focus to tournaments. His best performances were third in a seven-card stud tournament at the 1991 World Series of Poker and second in a World Poker Tour Freeroll tournament in 2003. He also starred in the GSN poker show High Stakes Poker and the NBC late-night show Poker After Dark.

Other Works

Buss produced the 1974 film Black Eye, which starred Fred “the Hammer” Williamson, a retired gridiron celebrity. Buss ran the Playboy Club in Phoenix.

Philanthropy

Buss contributed $7.5 million to the University of Southern California’s Department of Chemistry in January 2008 to support two tenured chairs and a scholarship fund for chemistry graduates. Buss served on the USC Board of Councilors for the first time. Members of the Lakers’ organization benefited from his kindness. Walt Hazzard, a retired Lakers player, had a seizure in 1996 that was fatal. He kept Hazzard on the salary and promised his son that as long as Buss controlled the team, he would maintain his father on the payroll. Hazzard was still a Lakers player when he passed away in 2011.

Jerry Buss Net Worth and Salary

About

Net Worth$600 Million
NameJerry Buss
Age80
Height(1.73 m)
Weight80KG (Approx)
ProfessionBusinessman
Date Of BirthJanuary 27, 1933
BirthplaceUnited States
NationalityAmerican
Income$50 Million (Annual)
SpouseJoAnn Mueller

Personal Life

After 4 kids, Buss divorced his first wife, JoAnn Mueller, in 1972. Karen Demel, Buss’s girlfriend, had two other children with him afterward. His six kids were all employed by the Lakers at the time of his demise.

Legal Issues

Buss was well-known as a playboy and had a loop of younger lovers throughout his time as Lakers ownership. In 1990, he resolved a paternity suit brought by Puppi Buss, who stated that she had an on-again, off-again romance with Buss for 15 years and that he fathered her son; the proposed rules were not published.

Buss was cited for driving under the influence in 2007 after two California Highway Patrol officers noticed him driving his gold Mercedes-Benz on the wrong side of the street in Carlsbad, California, with a 23-year-old woman passenger. Buss was arrested after screwing up a field sobriety test, was given a blood test, and was jailed on charges of drunken driving with a blood-alcohol level of 0.08.

Death

Buss spent months in the hospital in 2012 due to an unidentified digestive ailment. Due to medical reasons, he decided not to attend a Lakers game throughout the 2012–13 season until his 80th birthday in 2013. Buss had been fighting cancer since 2012, it was disclosed four days before his death that year.

He died of renal failure in February 2013, aged 80, after being admitted to Cedars-Sinai Medical Center with an unidentified form of cancer.

Summary

As of 2022, Jerry Buss had an estimated net worth of $600 million. To earn such a high amount, he had invested in Real Estate, Team Owning, and many more businesses. His annual income at the time of death was more than $50 million

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