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.
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.