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Home BIOGRAPHY

What Does The Buss Family Own? How Did The Buss Family Get Rich?

Gluck BG by Gluck BG
April 28, 2022
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Buss Family

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The Lakers have been owned by the Buss family since 1979, when the late Jerry Buss bought the team. Jeanie is currently the team’s controlling owner and president.

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How Did The Buss Family Get Rich?

In 1959, Jeff Buss used money saved from his first job after graduating from USC to buy a 14-unit rental property in West Los Angeles for a $6,000 down payment and a $100,000 bank loan.

Buss transformed this $6,000 down purchase into a $350 million real estate empire eighteen years later.

What Does The Buss Family Own? How Did The Buss Family Get Rich?
Photo Credit: C-Suite Quarterly

From the beginning, Buss had a vision: to turn going to a basketball game into an all-out entertainment event.

As a result, the term “sports entertainment” was coined.

What Does The Buss Family Own?

Buss introduced entertainment elements to his newly-purchased Great Western Forum that no other sports owner had considered.
He introduced cheerleaders (the now-famous Laker girls), added music and fanfare during commercial breaks, introduced a house band to play live music (which still exists and performs at STAPLES Center during player warm-ups) and provided a complete entertainment experience to anyone with a ticket to the game.

Tags: buss family businessbuss family membersbuss family net worthbuss family ownershipbuss family sell lakersbuss family treebuss family trustbuss family trust net worthbuss family winning timebuss family worth
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