Jeanie Buss, 61, made history when the Los Angeles Lakers won the 2020 championship, becoming the first woman to own an NBA championship team. to $500 million. Buss, the daughter of late former Lakers owner Jerry Buss, who died in 2013, had diverse business interests including co-owning Women of Wrestling.
Lakers leadership
Jeanie Buss is best known as the president and controlling owner of the Los Angeles Lakers. After her father, Jerry Buss, died in 2013, his six children inherited his 66% controlling stake in the Lakers, with each child receiving approximately 11% of the shares. Given that Forbes values the Lakers at approximately US$5.9 billion, an 11% stake is equivalent to nearly US$650 million.
In 2017, Buss solidified control of the Lakers after a legal battle with brothers Jim Buss and Johnny Buss. She fired Jim as director of basketball operations and executive vice president, ensuring her status as a lifelong controlling shareholder. As CEO, she oversees all aspects of the organization, including basketball operations, marketing, sponsorships and broadcast relations. Buss also represents the Lakers on the NBA Board of Directors and serves on the NBA Advisory and Finance Committees.
early management roles
Before taking the helm with 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 provided her with early leadership experience and laid the foundation for her future career in sports management. Bass led the Strings to two league titles before the team folded in 1993.
Bass also manages the Los Angeles Blades of the International Roller Hockey League, earning praise for her knowledge and leadership. She further honed her skills in sports management during her tenure with the Blades from 1993 to 1999 and was named Executive of the Year by the International Roller Skating Association.
Business Venture Capital
In addition to his role with the Lakers, Buss is a co-owner of the professional wrestling promotion Women's Wrestling. Inspired by tennis legend Billie Jean King and her childhood love of comic book heroines, Bass aims to empower women through the cause. “The women of WOW are some of the strongest people I've ever met in my life,” Bass said. “They are extraordinary. They are superheroes.
Educational background and honors
Jeanie Buss graduated magna cum laude from the University of Southern California's Marshall School of Business in 1985. Her father insisted that she complete her education as a condition of becoming the owner of a Los Angeles string orchestra. Reflecting on this, Bass emphasized the importance of education and credits it with providing her with valuable lessons that contributed to her success.
Hollywood Investment Company
Living in Los Angeles, it's no surprise that Bass got into show business. She serves as an executive producer on the Hulu documentary “Legacy: The True Story of the Los Angeles Lakers,” which chronicles the rise and success of the Lakers and the family's internal struggle for control after the death of Jerry Buss. Bass expressed the importance of sharing her father's story with a new generation and highlighted his unique contribution to the world of sports.
Additionally, Buss is collaborating with Mindy Kaling on a Netflix workplace comedy inspired by her time with the Lakers. The series, which has been ordered for ten episodes and will be written by “Modern Family's” Elaine Ko, will explore the dynamics of NBA ownership and family drama.
Real estate venture capital
In 2020, Bass purchased an oceanfront condo in Playa del Rey for $2.6 million. The 2,200-square-foot property has four bedrooms, three bathrooms and stunning ocean views from balconies and terraces. The purchase comes a year after she sold her Mediterranean-style home in Playa Vista for $2.575 million, underscoring her active involvement in the real estate market.
Personal life and future plans
Bass, who is now engaged to actor and comedian Jay Mohr, continues to break barriers and set new standards in the sports industry. She has publicly stated her commitment to keeping the Lakers in the Buss family to honor her father's legacy. “I'm not going anywhere. That's exactly what my dad asked me to do. This team is not for sale,” she told the Los Angeles Times.
in 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, Bass continues to make significant inroads in the sports world and beyond. Her story has inspired many, emphasizing the importance of persistence, education and innovation in success.