Jerry Buss Net Worth
Entrepreneur and owner of a professional sports team in the United States, Dr. Jerry Buss had a fortune of $600 million. Having owned the Los Angeles Lakers basketball team for so long contributed significantly to Jerry Buss‘ net worth. Also, he owned the Los Angeles Sparks of the WNBA, the Los Angeles Kings of the NHL, and the Los Angeles Lakers of the NBA in the previous (soccer).
He will be remembered as a businessman who treated everyone he met with dignity and respect, and who had a huge impact on professional sports, and who was one of the most successful owners of our time.
How does Jerry Buss make his money?
Jerry Buss was a successful American businessman who began his career as a chemist with the Bureau of Mines in Washington, D.C. (presently known as the Mine Safety and Health Administration). After a brief stint in the aerospace industry, Buss began working as a professor at the University of Southern California’s Chemistry department. Buss, on the other hand, decided to enter the real estate market in order to supplement his job as a teacher.
Soon after, Buss found great success in the real estate business and decided to devote his time and energy to expanding his empire in the field. Mariani-Buss Associates was founded by Buss and his business partner Frank Mariani. His most valuable real estate assets included Phoenix’s Playboy Club and the Chrysler Building in Detroit. In 1974, Buss also made a film. Accordingly, it’s safe to say that up until 1979, Buss made the vast majority of his money through real estate investments and only a small amount through his teaching career.
Early life of Jerry Buss
Jerry Buss was raised by a single mother in Kemmerer, Wyoming during the height of the Great Depression, where he was born in Salt Lake City. The Greatest Show on Earth is his best-known work of fiction. One of a young child’s earliest memories is of waiting in a bread line for food.
A scholarship to the University of Wyoming, where Jerry finished his degree in just 2.5 years, was made possible by Jerry’s unwavering focus. At the age of 24, Jerry had already earned a Master’s and a Doctorate in Chemistry from the University of Southern California.
Jerry Buss’s professional life.
Houses And Real Estate:
After graduating, he worked as a chemist and briefly in the aerospace industry before returning to the University of Southern California as a chemistry faculty member. Jerry began investing in Los Angeles real estate while still employed as a teacher at USC in order to supplement his teacher’s salary with additional income.
His side business soon became so profitable that he was able to give up teaching and devote all of his time and energy to real estate. It was only a matter of time before Jerry Buss amassed a sizable fortune.
ownership of a sports team
A total of $67.5 million was spent on buying the Los Angeles Lakers, Sacramento Kings and Forum sports complex by Jerry in 1979. This is the equivalent of $213 million in today’s money, to put it another way. Lakers won their first NBA championship under Jerry’s leadership less than a year after the most expensive sports franchise acquisition ever. Los Angeles Lakers have a market capitalization of over $1 billion, making them one of the most successful and well-known sports franchises ever.
After the WNBA changed its structure to allow each team to have its own owner in 2002, Buss purchased the Sparks. As of 2006, the team had been sold to a third-party buyer. Additionally to that, Buss purchased the Major Indoor Soccer League team, the LA Lazers. New York’s The Forum hosted a Lazers concert as well. Three years later, in 1990, the league went out of business as well as the team.
In 2010, he was inducted into the Basketball Hall of Fame for his contributions to the sport. To honour his contributions to society, Buss was awarded the American Academy of Achievement’s Golden Plate Award in 1983.
Jerry Buss’s Private Life:
John Buss and JoAnn Mueller divorced in 1972 after a marriage that had produced four children, Johnny, Jim, Jeanie, and Janie. Karen Demel and Buss had two more children, Joey and Jesse. Lakers were a family affair for him; all of his kids were employed there when he died in 2010. At one point or another during his time as Los Angeles Lakers owner, Buss had several young girlfriends at the same time. After 15 years of having an on-again, off-again relationship with Puppi Buss, who claimed that Buss fathered her son, the two came to an agreement out of court in 1990, but the terms of the agreement were not made public.
For driving under the influence of alcohol on May 29, 2007, two California Highway Patrol officers spotted Buss driving his gold Mercedes on the wrong side of the road in Carlsbad in Northern San Diego County and issued him a summons. The arrest of Buss came after he failed a field sobriety test, was subjected to a blood test, and was charged with driving under the influence of alcohol.
Dr. Jerry Buss is still being talked about.
For the sake of not overshadowing the weekend’s sports entertainment show, which he unquestionably created, Dr. Jerry Buss waited until after All-Star Weekend to pass away.
In fact, he loathed being in the limelight and avoided it like the plague. He only cared about winning.
This was done in the most brutal of ways.
In his 34 years as the owner of the Los Angeles Lakers, he led the team to the NBA Finals on 16 occasions and won 10 championships.
When Dr. Jerry Buss was just a kid, he had wide eyes and a big heart.
As a community, we come together to celebrate his life, his contributions to Los Angeles, and his indelible mark on the sport of baseball. One of the greatest owners in Los Angeles, if not the entire sport, was Dr. Jerry Buss.
Don’t Give Up and May You Rest in Peace! JB.