Dr. Jerry Buss had a fortune of $600 million as an American entrepreneur and owner of a professional sports club. Because he owned the Los Angeles Lakers, Jerry Buss had a substantial fortune. Los Angeles Sparks, NHL Los Angeles Kings, and NBA Los Angeles Lakers were all formerly under his ownership until he sold them all (soccer).
As a modern-day owner, Dr. Jerry Buss, who died on Monday at the age of 80, had a profound impact on professional sports, and he was a businessman who treated everyone with dignity and respect.
Starting From Scratch
When it came to the American Dream, Jerry Buss was the quintessential example. As a child of the Great Depression who was raised in poverty in Wyoming, Gerald Hatten “Jerry” Buss was well-versed in the struggles of working-class life and began working at an early age.
As a child, Buss would rise at 4:30 a.m. three hours before school to dig trenches for his stepfather’s plumbing firm.
Buss worked at a nearby hotel for two bucks a day in high school. After leaving school to work for the railroad, he returned to school and earned a bachelor’s and a doctorate in physical chemistry from the University of California, Los Angeles.
To buy a 14-unit rental property in West Los Angeles, Buss used the money he earned from his first job and a $100,000 bank loan after graduating from USC in 1959.
After 18 years, Buss had built a $350 million real estate empire from a $6,000 investment.
A well-known doctor, Dr. Jerry Buss.
Instead of detracting from the All-Star Weekend’s sports entertainment extravaganza, which he unquestionably created, Dr. Jerry Buss waited until the conclusion of the weekend to take his final breath, true to his character.
He didn’t want to draw attention to himself. He had only one goal in mind: to win. He also went in with a fury.
The Los Angeles Lakers have reached the NBA Finals 16 times and won 10 titles under Kobe Bryant’s ownership. It seemed like Dr. Jerry Buss, a native of Wyoming, was living the American Dream.
On this day, we’re remembering him, as well as all he’s done for the city of Los Angeles and the sport. He will be remembered as one of the greatest sports businessmen in Los Angeles, if not the world, thanks to Dr. Jerry Buss.
JB, keep up the battle and rest in peace. It’s possible that this will allow him to invest in one of the greatest NBA teams ever: the Boston Celtics.
The Los Angeles Times reports that in 1979, Buss paid billionaire Jack Kent Cooke $67.5 million for the Lakers, the Kings, the Forum sports arena, and even a California property. Some of the greatest basketball players of all time have graced the roster of the Los Angeles Lakers. Before Buss’ death, Forbes valued the Lakers at $1 billion.
He was “a visionary owner whose impact on our league is significant,” as former NBA commissioner David Stern phrased it in a 2013 interview with the New York Times.
Exactly how much money does the Buss Family Trust have in it?
How much money does the Buss family have? The Buss brothers and sisters own 66% of the Los Angeles Lakers and are reportedly worth billions. If the franchise were put up for sale today, the Buss family would almost certainly get more than $4 billion, but a bidding battle may push it much higher.
Family of Jerry (Wife and Kids)
Dr. Jerry Buss is a contented husband and father. JoAnn Mueller was his wife from 1957 until 1972, during which time he had four children: Johnny in 1957, Jim in 1959, and Jeanie in 1961. Janie was born in 1964. He had two additional children, Karen Demel Joey in 1985 and Jesse in 1988, with a different girlfriend.
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