How much did Jerry Buss pay for the Lakers?
3 min read
Asked by: Michael Henderson
The gamble worked out historically well for Buss. The $24 million he purchased for the Lakers and Kings would be $95.57 million in today’s money. 43 years later, the combined purchase of both teams would be a fraction of the Lakers’ current valuation of $5.5 billion.
How much did Jerry Buss sell the Kings for?
$10 million
The breakdown of the sale to the real estate magnate/PhD chemist Buss is quite hilarious in retrospect: $43.5 million US for the Forum, $14 million for the Lakers and $10 million for the Kings.
How did Jerry Buss make his money?
The majority of Jerry Buss’ net fortune came from his ownership of the Los Angeles Lakers basketball franchise. He was also the previous owner of the WNBA’s Los Angeles Sparks, the NHL’s Los Angeles Kings, and the NBA’s Los Angeles Lakers (soccer).
Does Jerry bus still own the Lakers?
Buss owned other professional sports franchises in Southern California.
| Jerry Buss | |
|---|---|
| Known for | Owner of the Los Angeles Lakers and Los Angeles Sparks |
| Spouse(s) | JoAnn Mueller (divorced) |
| Partner(s) | Karen Demel |
| Children | 6, including Johnny Jim Jeanie |
How did Jerry Buss make his money before Lakers?
Saving money from his first job out of USC, in 1959, Buss recruited four other investors to purchase a 14-unit rental apartment in West Los Angeles for a $6,000 down payment and $100,000 loan from the bank. Eighteen years later, Buss turned this $6,000 down payment into a $350 million real estate empire.
What is Lakers owner worth?
$500 million
In 2022, Jeanie Buss’ net worth is estimated to be $500 million, according to Celebrity Net Worth.
How much was Dr Buss worth?
Dr Jerry Buss Net Worth
| Net Worth: | $600 Million |
|---|---|
| Date of Birth: | Jan 27, 1933 – Feb 18, 2013 (80 years old) |
| Gender: | Male |
| Profession: | Chemist, Businessperson, Real estate entrepreneur, Professional Poker Player, Philanthropist |
| Nationality: | United States of America |
How rich is the Buss family?
Jeanie Buss is the daughter of late Los Angeles Lakers owner Jerry Buss and the President and controlling owner of the team. Jeanie Buss has a net worth of $500 million. She began her career at the age of 19 when she became the general manager of the Los Angeles Strings, a professional tennis team.
How much did Dr Buss sell the Lakers for?
In the days since Buss’ death, amid the accolades and remembrances, people might forget he almost lost out on the deal that made him the king of Southern California sports. A deal that made him considerably richer, his $67.5-million investment turning into a sports property now valued by Forbes at $1 billion.
How much is the Lakers franchise worth?
Every team in the league is worth at least $1.5 billion, per Forbes’ estimates.
List of NBA team values for 2021-22 season.
| Ranking | Team | Estimated value |
|---|---|---|
| 1. | Knicks | $5.8 billion |
| 2. | Warriors | $5.6 billion |
| 3. | Lakers | $5.5 billion |
| 4. | Bulls | $3.65 billion |
How did Jeanie Buss get rich?
A daughter of Jerry Buss, who owned the Lakers and other sports businesses, she entered the family business as general manager of the Los Angeles Strings professional tennis team at 19. She later bought the Los Angeles Blades professional roller hockey team.
Does Magic Johnson own the Lakers?
You’ve got to chase your dreams.” His dreams were realized in June 1994, when he became part owner of the team after purchasing 4.5 percent for a reported $10 million. In 2010, he sold his stake in the NBA team for an undisclosed sum to Dr. Patrick Soon-Shiong, a longtime Lakers season-ticket holder.
Is LeBron James a billionaire?
LeBron James has officially become a billionaire, according to Forbes. This makes James the first active NBA player to reach the milestone, and the second NBA player to reach billionaire status, joining retired basketball star Michael Jordan.
Who is the richest NBA player?
Michael Jordan
Michael Jordan reacts after being introduced as part of the NBA 75th Anniversary Team during the 2022 NBA All-Star Game on February 20, 2022 in Cleveland, Ohio. Photo by Tim Nwachukwu. Michael Jordan’s net worth is projected to be $1.5 billion, making him the world’s wealthiest basketball player.
