Jeanie Buss is a recognized figure in the sports management industry. As the majority owner and president of the Los Angeles Lakers, she has established herself as a powerful force in American sports. The estimated net worth of Jeanie stands at $700 million, a testament to her acumen in business and sports management.
Who is She?
Jeanie Marie Buss, born on September 26, 1961, in Santa Monica, California, is the daughter of the late Jerry Buss, a prominent businessman and owner of the Los Angeles Lakers. Growing up in a household that embraced both business and sports shaped her career trajectory.
- Education: She attended the University of Southern California, where she majored in business. The academic background laid the foundation for a successful career in sports management.
- Current Roles: Jeanie Bus holds the prestigious titles of president and controlling owner of the Lakers. She is also the co-founder of Women of Wrestling (WOW), a professional women’s wrestling promotion.
Source: https://www.latimes.com/
Early Life and Career Beginnings
Jeanie’s exposure to the business world began early. She frequently accompanied her father to various business meetings and sporting events, which piqued her interest in sports management.
At just 19 years old, she ventured into the business realm as the general manager of the Los Angeles Strings, a professional tennis team. This position marked the beginning of a journey in sports management.
Following her role with the Strings, Jeanie acquired ownership of the Los Angeles Blades, a roller hockey team, and later served as president of the Great Western Forum, the Lakers’ home arena at the time. During these initial roles, she honed skills in managing sports teams successfully.
The Path to Ownership
The turning point in her career came after the death of her father in 2013. Jerry Buss left behind a 66% ownership stake in the Lakers, which was divided among his six children. Jeanie, with an extensive background in sports management, quickly became the controlling owner with the full support of her siblings.
By 2017, siblings unanimously chose to entrust all decision-making power to her, solidifying her role in managing the team. The leadership was put to the test as she navigated the challenges of running a professional sports franchise.
Success and Achievements
Under Jeanie Buss’s management, the Lakers achieved major milestones, including winning the NBA Championship in the 2019-2020 season. This victory made her the first woman to lead a team to an NBA championship, further enhancing her reputation in the sports field. The Lakers’ valuation continues to rise, currently estimated at around $6.5 billion.
Earnings and Financial Growth
Jeanie Buss earns more than $50 million annually as the owner and president of the Lakers. The income stems from various sources, including media rights, sponsorships, and ticket sales, contributing significantly to her wealth.
In addition to working with the Lakers, she is also a co-owner of Women of Wrestling, which has garnered substantial fame and revenue since its inception. The wrestling promotion contributes further to an already impressive financial portfolio.
Awards and Recognition
She has received numerous accolades for contributions to sports, including a 2023 Sports Emmy Award for work as an executive producer of the documentary series Legacy: The True Story of the LA Lakers. This recognition emphasizes the role not just as an executive but also as a prominent figure in sports media.
Personal Life
Jeanie Buss has experienced both triumphs and challenges in personal life. Throughout her journey, she has been engaged in notable relationships, including a marriage to volleyball player Steve Timmons in 1990 and a long-term relationship with former Lakers head coach Phil Jackson. Recently, she married comedian Jay Mohr in September 2023.
Conclusion
Jeanie Buss has carved a unique niche for herself in the competitive world of sports management. The journey from a young girl attending sports meetings with her father to becoming the first woman to own an NBA championship-winning team highlights determination and business acumen.
With a net worth of $700 million, financial success reflects wise investment decisions and strategic leadership as she continues to lead one of the most storied franchises in sports history.
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