American entrepreneur, investor, chemist, and philanthropist Gerald Hatten Buss passed away on February 18, 2013. He was born on January 27, 1933. He was the team’s majority owner when the Los Angeles Lakers dominated the NBA during the 1980s during the Showtime era, winning 10 championships. The Naismith Memorial Basketball Hall of Fame inducted him as a member for his contributions to the game. Other Southern California professional sports teams were owned by Buss.
Jerry Buss’ Net Worth
|Net Worth:||$600 Million|
|Date of Birth:||Jan 27, 1933 – Feb 18, 2013 (80 years old)|
|Profession:||Chemist, Businessperson, Real estate entrepreneur, Professional Poker Player, Philanthropist|
|Nationality:||United States of America|
At the time of his death in 2013, Dr. Jerry Buss, an American businessman, and owner of professional sports teams were worth an estimated $600 million. This is where Jerry Buss made his first significant fortune.
He went on to become the Los Angeles Lakers owner, where he amassed an even greater fortune and gained even more notoriety. He also formerly owned the Los Angeles Lakers, Los Angeles Kings, and Los Angeles Sparks of the Women’s National Basketball Association (soccer).
Early Life and Career
Born in Salt Lake City, Jerry Buss spent his formative years in Kemmerer, Wyoming with his single mother during the Great Depression. When he was very young, he remembered standing in a bread line for food.
Jerry attended the University of Wyoming on scholarship and completed his degree in two and a half years. Jerry graduated from USC with a master’s and a doctorate in chemistry before he turned 24.
Aside from his many other accomplishments, Buss was also a skilled professional poker player. Dr. Jerry Buss passed away from cancer on February 18, 2013, at a hospital in Los Angeles. With six kids, all of whom are big Lakers fans, he leaves behind a legacy that will live on.
Real Estate Investments
After finishing his education, he went into the chemical industry and the aerospace sector for a while before deciding to return to academia and teach chemistry at USC. To supplement his salary as a teacher at USC, Jerry began investing in real estate in the Los Angeles area.
Jerry’s side business soon became so profitable that he was able to quit his day job as a teacher and devote himself fully to the real estate industry. Jerry Buss was destined to amass enormous wealth over time.
Buss spent months in a hospital in 2012 due to an undisclosed intestinal issue. By the time he turned 80 on January 27, 2013, he had missed all but one Lakers game of the 2012–13 season due to health problems. It was reported that Buss had been battling cancer since 2012 on February 14th, 2013, just four days before he passed away.
He was 80 years old when he passed away on February 18, 2013, due to kidney failure after being treated for cancer at Cedars-Sinai.In a televised memorial service held at the Nokia Theatre L.A. Live, across the street from the Staples Center where the Lakers play, hundreds of Buss’ friends, colleagues, and family members paid tribute to him on February 21. On February 22, 2019, Buss was laid to rest in a private ceremony attended by family and close friends at Forest Lawn Memorial Park (Hollywood Hills).
“The NBA has lost a visionary owner whose influence on our league is incalculable and will be felt for decades,” NBA commissioner David Stern said of Buss. Kobe Bryant, the guard for the Los Angeles Lakers, has called Buss “the greatest owner in sports history,” saying, “His impact is felt worldwide.”
In a trust arrangement, Buss gave his six children controlling interest in the Lakers and gave each child one-eleventh of the team’s voting power. Jeanie, his daughter, took over for him as Lakers governor and as the team’s representative at NBA Board of Governors meetings as part of his planned succession. On March 27, 2017, his daughter took over as Laker’s president. In his honor, the $2,500 Seven Card Stud tournament at the 2013 World Series of Poker drew 246 players.
American chemist, real estate investor, poker player, and businessman Gerald Hatten “Jerry” Buss passed away on February 18, 2013. From 1979 until his death in 2013, Buss was the sole owner of the Los Angeles Lakers basketball team.