What Was Jerry Buss’s Total Wealth at the Time of His Death?
An American businessman and sports franchise owner, Dr. Jerry Buss had a net worth of $600 million when he died in 2013. In the real estate business, Jerry Buss made his initial fortune. As the owner of the Los Angeles Lakers basketball team, he amassed an even greater fortune (and notoriety). The Los Angeles Kings, the Los Angeles Sparks, and the Los Angeles Lazers were all once owned by him (soccer).
As a Child
During the depths of the Great Depression, Jerry Buss was raised by a single mother in Kemmerer, Wyoming, where he was born in Salt Lake City. When he was a small child, he recalls standing in line to buy bread.
Jerry was awarded a scholarship to attend the University of Wyoming, where he completed his degree in 2.5 years after putting in a lot of effort. Jerry was 24 years old when he graduated from the University of Southern California with an MS and a Ph.D. in chemistry.
Investing in Residential Property
His first job out of college was in the aerospace business before returning to the University of Southern California (USC) as a chemistry professor. As a teacher at the University of Southern California, Jerry began investing in real estate in Los Angeles in order to augment his salary.
His side business quickly brought in enough money that he decided to give up teaching and focus on real estate full time. Jerry Buss would eventually amass a sizable fortune.
Lebron James and the Los Angeles Lakers
As of 1979, Jerry had earned enough money to acquire the Lakers, the Kings, and the Forum sports venue. All three were purchased for a total of $67.5 million, with the Lakers receiving just $16 million of it. In today’s dollars, that works up to $213 million. It was the largest sports franchise acquisition in history at the time.
After just one season under Jerry’s direction, the Lakers had won their first of eleven NBA titles. The Los Angeles Lakers were worth $1 billion at the time of Magic Johnson’s death in 2013. Theirs was one of the first billion-dollar valuations for a professional sports organization.
The Lakers are now one of the most valuable sports clubs in the world, with a value in excess of $5.5 billion. This is quite astounding.
My Own Story
As a professional poker player, Buss was well-regarded. Sadly, Dr. Jerry Buss passed away on February 18th, 2013, at a Los Angeles medical facility, after a protracted fight with cancer. He leaves behind six children, all of whom are associated with the Los Angeles Lakers.
Source of Wealth:
Los Angeles Lakers, Los Angeles Sparks, Los Angeles Kings, Los Angeles Lazers
Salt Lake City, Utah
Divorced (JoAnn Muelle)
Gerald Hatten “Jerry” Buss
Date of Birth:
January 27, 1933
The University of Southern California, University of Wyoming
6 (Johnny, Jim, Jeanie, Janie, Joey, Jesse)
The Memory of Dr. Jerry Buss Lives on
True to his character, Dr. Jerry Buss waited until the end of All-Star Weekend before passing away, preferring not to overshadow the weekend’s sporting extravaganza, which he unquestionably created.
He was not interested in becoming the center of attention. To win was all he cared about.
Then he went after it with all his might.
His Los Angeles Lakers made it to NBA Finals 16 times and won 10 championships during his 34-year reign as the team’s owner.
Dr. Jerry Buss was a young man from Wyoming who was living the American Dream with wide eyes and a big heart.
On this day, we are remembering his life, his contributions to the city of Los Angeles, and his unequaled impact on the world of sport. He will be recognized as one of the best owners in Los Angeles, if not in the entire sport, thanks to Dr. Jerry Buss.
Fight on, and then rest in peace. JB.
Does the Buss Family Trust Have a Monetary Value to It?
What is the net worth of the Buss family? 66 percent of the Los Angeles Lakers are owned by the billionaire Buss siblings. Any potential buyer would get at least $4 billion if the franchise were placed up for sale today, but a bidding war might push the price even higher.
The Family of Jerry
According to his wiki page, Jerry Buss is happily married. Their four children were born between 1957 and 1964: Johnny (born in 1957), Jim (1959), Jeanie (1961), and Janie (born 1964). He was married to JoAnn Mueller from 1957 to 1972, during which time they had four children together. In 1985, he had Karen Demel Joey, and in 1988, he had Jesse, both of whom he had with a partner.