Who is Jeanie Buss?
Jeanie Marie Buss, an American sports entrepreneur born on September 26, 1961, is the majority owner and president of the Los Angeles Lakers of the National Basketball Association (NBA) as well as the co-owner and promoter of the Women of Wrestling promotion for American women’s professional wrestling.
What is Jeanie Buss Net Worth?
Since the passing of her father, Jerry Buss, in 2013, Jeanie Buss has received a great deal of media coverage. After her father passed away, the businesswoman acquired the Los Angeles Lakers and became the team’s majority owner.
Jeanie Buss, one of the most powerful women in sports, is expected to have a net worth of $500 million in 2022. Despite hailing from an affluent background, her journey to success hasn’t always been straightforward.
How did Jeanie Buss get the ownership of the Lakers?
She joined the family company at the age of 19 as general manager of the Los Angeles Strings professional tennis team. She is the daughter of Jerry Buss, the owner of the Lakers and other sports franchises.
Later, she acquired the Los Angeles Blades roller hockey team. Prior to becoming the Lakers’ vice president, she was president of the Great Western Forum. When her father passed away in 2013, his six daughters received equal voting rights and the majority ownership of the Los Angeles Lakers through a family trust.
Buss assumed the roles of club president and Lakers Board of Governors representative. She led her club to an NBA championship in 2020, making history as the first female controlling owner to do so, giving her six NBA championships total as an owner/executive.
Six of Jerry Buss’ children received a family trust that holds 66% of the Lakers as an inheritance after his passing in 2013.
Accordingly, the Lakers are owned by around 11% of each child. It’s not implausible that the Lakers would be valued at a cautious $5 billion given that the Phoenix Suns were sold in late 2022 for a $4 billion valuation. Therefore, the 11% interest held by each child is worth about $550 million.
In 2017, Johnny Jeanie’s brother made an effort to seize The Lakers from his sister. After a protracted struggle, Jeanie gained even more authority over the squad as the coup came to a conclusion.
She is now solely responsible for making all Laker family choices. On the Board of Governors of the NBA, she also represents the Lakers.
Does Jeanie Buss have high real estate value?
Buss sold her Playa Vista house in 2019 for $2.575 million. She had paid $2.45 million for the house when she first bought it in 2017. She agreed to the price reduction even though the house was initially offered for $225,000 more than it ultimately sold for.
Having said that, Buss did make some improvements to the property after purchasing it two years earlier in an effort to make it more appealing to potential purchasers.
Modern fixtures and a fast coat of neutral paint helped brighten it up before the house was put back on the market. Her old Playa Vista residence has a total living area of close to 3,200 square feet and is situated on a corner site.
French doors, a flagstone patio, and a three-car garage are other highlights. Buss apparently bought this four-bedroom condo in 2018, and she also reportedly owns another home in Playa Vista.
Jeanie bought a new home in Los Angeles’ Playa del Rey district in 2020. The house, which is conveniently located a few miles from Los Angeles International Airport, cost her $2.6 million. The four-bedroom beachfront home has a pool, jacuzzi, and gym as notable amenities.
The 2,200-square-foot house is also a part of the gated Breakers complex in the Playa del Rey region. Buss had previously acquired a number of homes in the LA region, but her most recent purchase marked her first waterfront home.
Where does Jeanie Buss Come from?
As the third of four children and one of two females born to Joann and Jerry Buss in Santa Monica, California, Buss grew up alongside her elder brothers Johnny and Jim as well as her younger sister Janie. When their parents split up in 1972, Buss felt psychologically abandoned.
Buss’ father, the owner of the Los Angeles Strings, took her to World Team Tennis meetings when she was 14 years old. She moved in with her father at Pickfair when she was 17 years old.
She got to know the estate so well that she started giving tours. Buss studied in business at the University of Southern California (USC), where she also received an honours degree.
How is the career of Jeanie Buss Going on?
After World TeamTennis ceased operations in 1978, TeamTennis was reborn in 1981. While Jeanie was a USC student and 19, Jerry once more controlled the second iteration of the Strings and named her general manager.
In essence, Buss declared, “My dad bought me the team.” Buss, who owned the Los Angeles Blades in Roller Hockey International after the Strings dissolved in 1993, introduced professional roller hockey to Los Angeles. She was named Executive of the Year by the league.
Buss also held the position of president of the Great Western Forum, the Lakers’ former home venue, for four years.
Her responsibilities with the Lakers grew over her time at the Forum, and she has been the alternate governor on the NBA Board of Governors since 1995.
She was appointed the Lakers’ executive vice president of business operations in 1999. In 2005, Jim, her brother, was appointed vice president of player personnel.
According to their father’s plan, Jeanie would be in charge of team financial decisions while Jim would be in charge of the Lakers’ basketball operations.
Buss also oversees the Lakers and is the owner of WOW-Women Of Wrestling. On October 6, 2021, ViacomCBS Global Distribution President Dan Cohen, together with Buss and her longtime business partner David McLane, made an announcement about the multi-year distribution deal for WOW from the top of the Circa Resort & Casino in Las Vegas.
The dissemination of WOW represents the biggest media distribution platform in the history of women’s wrestling.
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