Jeanie Buss directly owns an 11% stake in the Lakers which she inherited when her father passed. This is the main source of Buss net worth, which is estimated to be between $600-$700 million.
Jeanie began her career while still a teenager when she became general manager of pro Tennis team the Los Angeles Strings. Eventually her father, Jerry, would make her President of the Great Western Forum (Lakers former home stadium). After his passing and a brief legal battle with her siblings she became the President of the Lakers assuming sole control over all business matters.
What did Jeanie Buss inherit from her father?
When Dr Buss died in 2013 he owned 66% of the Lakers franchise. His six children, including Jeanie, inherited the family trust that controlled the Lakers shares. This means that Jeanie and her siblings each inherited 11% of the Lakers. Although Buss was a generally successful business man, the Lakers was the main asset of value he owned at his death and forms the vast majority of the family’s portfolio.
The 11% share in the Lakers that Jeanie owns, combined with the other 45% owned by her siblings gives the Buss family majority control over the Lakers.
The other 44% of the LA Lakers is owned by Mark Walter & Todd Boehly (26%) and Ed Roski (8%). Mark and Todd, who founded private equity firms Guggenheim Partners and Eldridge together, bought their 27% stake in the Lakers from AEG founder Phil Anschutz in 2021.
Ed Roski is a billionaire real estate mogul who owns over 100 million square feet of commercial property. He bought his 8% stake in the Lakers in 1998. This was in conjunction with Phil Anschutz as they exercised an option that was granted on June 14, 1996, in conjunction with the Lakers’ agreeing to become a tenant in the new Staples Center (now Crypto.com Arena), a $300-plus million, 20,000-seat downtown facility that will also house L.A. Arena’s primary property, the Kings, and the Clippers. As reported by the LA Times at the time.
How much are the LA Lakers worth?
NBA Franchise values are hard to pin down, because so few change hands. Their value is not always in sync with what profit they are likely to generate. Owning a big North American Sports Franchise is an elite club, very rich people are prepared to pay a lot of money for the kind of social access that can bring.
We can look at the recent cases of the Houston Rockets, sold for $2.2billion in 2017 and the Phoenix Suns sold in late 2022 at a valuation of $4 billion.
Given the Lakers history, giant fanbase, huge local market and all around global appeal the Lakers are probably one of the top 3 valuable NBA teams. With the New York Knicks and the Golden State Warriors vying for the other top spots. Many financial websites report that the Lakers would be worth north of $6 billion. Therefore Jeanie Buss’ 11% stake is worth around $660 million. In reality if the Buss family ever decided to sell their majority stake in one of the most recognised sports brands in the world, a total valuation of $10 billion wouldn’t be a shock.