Dr. Jerry Buss, an American entrepreneur and professional sports club owner, amassed a wealth of $600 million. Long-term ownership of the Los Angeles Lakers contributed greatly to Jerry Buss’s total worth. In addition, he previously controlled the Los Angeles Sparks of the WNBA, the Los Angeles Kings of the NHL, and the Los Angeles Lakers of the NBA (soccer).
He will be remembered as a businessman who treated everyone with dignity and respect, had a significant impact on professional sports, and was one of the most prosperous owners of our time.
How Does Jerry Buss Earn a Living?
Jerry Buss was a successful American businessman who began his career in Washington, D.C. as a chemist for the Bureau of Mines (presently known as the Mine Safety and Health Administration). After a brief spell in the aerospace sector, Buss began teaching in the Chemistry department at the University of Southern California. Buss, on the other hand, opted to augment his income as a teacher by entering the real estate market.
Buss decided to concentrate his time and energy to building his real estate empire shortly after achieving considerable success in the industry. Buss co-founded Mariani-Buss Associates with his business partner Frank Mariani. Included among his most significant real estate assets were the Playboy Club in Phoenix and the Chrysler Building in Detroit. Buss also created a film in 1974. Consequently, it is plausible to argue that prior to 1979, Buss earned the vast bulk of his income through real estate investments and only a minor portion from his teaching job.
The Early Years of Jerry Buss
During the height of the Great Depression, Jerry Buss was reared by his single mother in Kemmerer, Wyoming, where he was born in Salt Lake City. The Greatest Show on Earth is his most well-known fictional work. One of the earliest memories of a small child is standing in a bread line for meals.
Jerry was awarded a scholarship to the University of Wyoming, where he completed his degree in just two and a half years. Jerry received his Master’s and Doctorate in Chemistry from the University of Southern California at the age of 24.
Jerry Buss’s Career History.
After graduation, he worked as a chemist and temporarily in the aerospace business before becoming a chemistry professor at the University of Southern California. While still employed as a teacher at USC, Jerry began investing in Los Angeles real estate in order to augment his teacher’s pay.
His side business quickly grew so prosperous that he was able to quit teaching and devote himself entirely to real estate. It was inevitable that Jerry Buss would earn a substantial fortune.
Possession of a Sporting Team
In 1979, Jerry invested a total of $67.5 million to acquire the Los Angeles Lakers, Sacramento Kings, and Forum sports facility. In other words, this is the equal of $213 million in current dollars. The Lakers won their first NBA title under Jerry’s direction less than a year after acquiring the most expensive sports team ever. With a market worth of over $1 billion, the Los Angeles Lakers are one of the most successful and well-known sports franchises in history.
In 2002, when the WNBA modified its structure to permit each team to have its own owner, Buss bought the Sparks. Since 2006, the squad has been owned by a third party. In addition, Buss purchased the LA Lazers of the Major Indoor Soccer League. The Forum in New York also hosted a Lazers event. Three years later, in 1990, both the league and the franchise went out of business.
The Basketball Hall of Fame inducted him in 2010 for his services to the sport. 1983 saw Buss receive the Golden Plate Award from the American Academy of Achievement in recognition of his services to society.
Jerry Buss’ Personal Life:
In 1972, John Buss and JoAnn Mueller separated after producing four children, Johnny, Jim, Jeanie, and Janie. Joey and Jesse were two other offspring of Karen Demel and Buss. The Lakers were a family affair for him; when he passed away in 2010, all of his children were worked there. During his tenure as owner of the Los Angeles Lakers, Buss had multiple young girlfriends at the same time. After 15 years of an on-again, off-again relationship with Puppi Buss, who claimed that Buss was the father of her kid, the two reached an out-of-court settlement in 1990, but the contents of the settlement were kept confidential.
On May 29, 2007, two California Highway Patrol officers observed Buss driving his gold Mercedes on the wrong side of the road in Carlsbad in northern San Diego County and issued him a citation for driving under the influence of alcohol. After failing a field sobriety test and submitting to a blood test, Buss was arrested and charged with driving under the influence of alcohol.
Dr. Jerry Buss Is Still a Topic of Conversation.
Dr. Jerry Buss waited until after All-Star Weekend to pass away in order to avoid overshadowing the weekend’s sports entertainment spectacle, which he undoubtedly produced.
- In actuality, he abhorred the spotlight and avoided it like the plague. He was just concerned with winning.
- This was accomplished in the most terrible manner.
- In his 34 years as owner of the Los Angeles Lakers, he took the team to the NBA Finals 16 times and to 10 titles.
- As a child, Dr. Jerry Buss had large eyes and a large heart.
- We join together as a community to honour his life, his services to Los Angeles, and his indelible legacy on baseball. Dr. Jerry Buss was one of the greatest owners in Los Angeles, if not all of sports.
- Never Give Up, and Rest in Peace! JB.