Jeanie Buss, 61, made history as the first woman to own an NBA championship team when the Los Angeles Lakers won the championship in 2020. As controlling owner and president of the Lakers , she has amassed a net worth estimated at $500 million. Buss, the daughter of the late Jerry Buss, a former Lakers owner who passed away in 2013, has diversified her business interests, including co-owning a professional wrestling promotion for women of the United States, Women of Wrestling.
Lakers leader
Jeanie Buss is best known as the president and controlling owner of the Los Angeles Lakers. After the death of her father, Jerry Buss, in 2013, his six children inherited his 66% controlling stake in the Lakers, with each child receiving approximately 11%. With Forbes valuing the Lakers at around $5.9 billion, an 11% stake equates to nearly $650 million.
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In 2017, Buss consolidated his control of the Lakers after a legal battle with brothers Jim and Johnny Buss. She fired Jim from his position as director of basketball operations and executive vice president, ensuring her role as controlling owner for life. As CEO, she oversees all aspects of the organization, including basketball operations, marketing, sponsorships and broadcast relationships. Buss also represents the Lakers on the NBA Board of Governors and serves on the NBA Finance and Advisory Committee.
Initial management role
Before taking the helm of the Lakers, Buss gained valuable experience managing other sports teams owned by her father. At just 19 years old, she was appointed general manager of the Los Angeles Strings, a professional tennis team. This role gave her early leadership experience and set the stage for her future in sports management. Buss led the Strings to two championships before the team dissolved in 1993.
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Buss also managed the Los Angeles Blades in the Roller Hockey International league, receiving praise for her knowledge and leadership skills. Her tenure with the Blades, from 1993 to 1999, further honed her abilities in sports management, earning her recognition as Executive of the Year by Roller Hockey International.
Business plan
In addition to her role with the Lakers, Buss also co-owns Women of Wrestling, a professional wrestling promotion. Inspired by tennis legend Billie Jean King and her childhood love of comic book heroines, Buss aims to empower women through this venture. “The women of WOW are some of the strongest people I have ever met in my life,” Buss said. “They are absolutely extraordinary. They are superheroes.”
Education and Honors
Jeanie Buss graduated with honors from the University of Southern California’s Marshall School of Business in 1985. She is currently a Trustee of the university. Her father insisted that she complete her education as a condition of becoming owner of Los Angeles Strings. Reflecting on this, Buss emphasized the importance of education, saying it taught her valuable lessons that contributed to her success.
Hollywood Venture
Living in Los Angeles, it’s no surprise that Buss also branched out into show business. She served as executive producer of the Hulu documentary “Legacy: The True Story of the LA Lakers,” which chronicled the rise and success of the Lakers franchise as well as the family’s internal struggle to took control after the death of Jerry Buss. Buss expressed the importance of sharing her father’s story with a new generation, emphasizing his exceptional contributions to the world of sports.
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Additionally, Buss is teaming up with Mindy Kaling to develop a Netflix workplace comedy inspired by her experience with the Lakers. The show, which has been ordered ten episodes, will be written by “Modern Family”’s Elaine Ko and will explore the dynamics of NBA ownership and family drama.
Real estate joint venture
In 2020, Buss bought a beachfront condo in Playa del Rey for $2.6 million. The 2,200-square-foot residence has four bedrooms, three bathrooms and stunning ocean views from balconies and terraces. The sale comes a year after she sold her Mediterranean-style home in Playa Vista for $2.575 million, signaling her active involvement in the real estate market.
Personal life and future plans
Buss, now engaged to actor and comedian Jay Mohr, continues to break barriers and set new standards in the sports industry. She has publicly pledged to keep the Lakers in the Buss family, honoring her father’s legacy. “I’m not going anywhere. This is exactly what my dad asked me to do. The team is not for sale,” she told the Los Angeles Times.
Conclusion
Jeanie Buss’ journey from managing tennis and roller hockey teams to becoming the first woman to own an NBA championship team is a testament to her resilience, leadership, and business acumen. With a net worth of $500 million and a diverse business portfolio, Buss continues to make significant strides in the world of sports and beyond. Her story is an inspiration to many, highlighting the importance of perseverance, education, and innovation to achieve success.
Source: https://www.phonggdkrongpac.edu.vn
Category: Net Worth