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Jerry Buss Net Worth, Income, Updated 2022!
For more than a decade, Jerry Buss owned a major league baseball team worth an estimated $600 million.
He was a real estate investor, poker player, and businessman. The majority of Jerry Buss’ wealth comes from his ownership of the Los Angeles Lakers basketball team. He was also a former owner of the Los Angeles Sparks of the WNBA, the Los Angeles Kings of the NHL, and the Los Angeles Lakers of the NBA.
What is Jerry Buss’ Net Worth?
|Net Worth:||$600 Million|
|Age:||80 Years Old|
|Born:||27th January 1933|
Early Life and Education
On January 27th, 1933, Gerald Hatten Buss was born in Salt Lake City, Utah. For the majority of his childhood and early years, Jessie, Buss’ divorced mother, served as his primary caregiver.
At Berkeley’s University of California, Lydus was a chartered accountant who taught statistics after his divorce. He moved to Los Angeles at the age of nine. They moved to Kemmerer, Wyoming, after her mother remarried.
In 1953, Buss received a bachelor’s degree from the University of Wyoming on a scholarship. It was at the University of Southern California (USC) in Los Angeles, where he received his Master’s and Ph.D. in physical chemistry, both at the age of 24.
As a Real Estate Entrepreneur
To supplement his income and allow him to continue teaching, Buss turned to real estate investing. In the 1960s, he invested $1,000 in a West Los Angeles housing complex. As the real estate market improved, he and longtime business partner Frank Mariani formed Mariani-Buss Associates, a firm dedicated to real estate investment.
It was Douglas Fairbanks and Mary Pickford who lived in the Beverly Hills home known as Pickfair before it was purchased by Buss in 1979 and later traded away in 1987.
Ownership of Sports Team
When Jerry got his hands on $67.5 million in 1979, he bought the Lakers, the Kings, and the Forum stadium. That’s the equivalent of $213 million in real money. Lakers won their first NBA championship under Jerry’s leadership less than a year after making the greatest sports franchise acquisition in history. Over $1 billion in market value, Los Angeles Lakers are one of the most successful and well-known franchises of all time.
The Sparks were purchased by Buss in 2002 when the WNBA was restructured to allow each team to have its owner. It was in 2006 that he sold the team. The Los Angeles Lazers of the Major Indoor Soccer League were also purchased by Buss. The Lazers were also on stage at The Forum. This happened in 1989 and three years later the league was also shut down.
As a result of his contributions to basketball, he was inducted into the Basketball Hall of Fame in 2010. Buss received the Golden Plate Award from the American Academy of Achievement in 1983.
As a Poker Player
The majority of Buss’ professional poker career was spent playing high-stakes cash games, but he began playing tournaments as he got older. At the World Series of Poker in 1991, he finished third in a seven-card stud tournament and finished second in a freeroll tournament on the World Poker Tour in 2003. Among his other roles were High Stakes Poker on GSN, and Poker After Dark on NBC.
The 1974 film Black Eye, starring Fred “The Hammer” Williamson, a former gridiron star, was produced by Buss.
In Phoenix, Buss ran the Playboy Club.
When Buss made a $7.5 million donation in January 2008, he supported two tenured professors and an undergraduate scholarship fund at the University of Southern California’s Chemistry Department. As a USC Board of Councilors member, Buss made his first-ever appearance. His generosity benefited the Lakers’ organization.
Former Lakers player Walt Hazzard died of a seizure in 1996. He promised his son that as long as Buss was in charge of the team, he would keep Hazzard employed. When he passed away in 2011, Hazzard was still playing for the Los Angeles Lakers.
|Favorite Actor||Robert Downey Jr.|
|Favorite Actress||Not Know|
|Favorite Singer||Not Know|
|Favorite Food||Not Know|
|Favorite Song||Not Know|
|Favorite Sportsman||Lionel Andrés Messi|
|Favorite Movie||Don’t Know|
|Favorite Cricketer||Virat Kohli|
|Favorite Footballer||Lionel Andrés Messi|
|Favorite TV Show||Not Know|
|Net Worth||$600 Million|
|Date Of Birth||January 27, 1933|
|Income||$50 Million (Annual)|
Buss and JoAnn Mueller, his first wife of four years, divorced in 1972. Buss’s girlfriend, Karen Demel, had two more children with him after the divorce. At the time of his death, all six of his children worked for the Los Angeles Lakers.
During his tenure as Lakers owner, Buss was well-known for being a playboy and having a string of younger lovers. After 15 years of on-and-off romance, Puppi Buss claimed he fathered her son in a paternity suit filed in 1990; the proposed rules were never published.
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In 2007, two CHP officers in Carlsbad, California, saw Buss driving his gold Mercedes-Benz on the wrong side of the road with a 23-year-old woman passenger and issued a citation for DUI. After a field sobriety test went awry, Buss was taken into custody, given a blood test, and charged with DUI with a BAC of 0.08.
Due to an unidentified digestive ailment, Buss spent months in the hospital in 2012. Because of his age and declining health, he decided not to attend a single Lakers game during the 2012–13 season, even after turning 80 years old. On the eve of his death in 2012, news broke that Buss had been battling cancer since the previous year.
After being admitted to Cedars-Sinai Medical Center in February 2013 with unidentified cancer, he died of renal failure in February 2013.
Jerry Buss was estimated to be worth $600 million as of 2022. Investing in Real Estate, Team Owning, and a variety of other businesses allowed him to achieve such a lucrative income. At the time of his death, he had an annual salary of more than $50 million.