The Astonishing Net Worth Of Jerry Buss At The Time Of His Passing
What was Jerry Buss' net worth at the time of his death?
Jerry Buss was an American businessman and philanthropist who owned the Los Angeles Lakers of the National Basketball Association (NBA). At the time of his death in 2013, Buss had an estimated net worth of $1 billion.
Buss acquired the Lakers in 1979 for $6.5 million. Under his ownership, the team won 10 NBA championships and became one of the most valuable sports franchises in the world. Buss was also instrumental in the development of the NBA's entertainment business, including the creation of the Lakers Girls dance team and the introduction of halftime shows featuring popular music artists.
In addition to his business ventures, Buss was also a philanthropist. He donated millions of dollars to various charities, including the UCLA Medical Center and the Los Angeles County Museum of Art. Buss was also a major supporter of the Democratic Party and served on the board of directors of the Clinton Foundation.
Jerry Buss was a visionary leader who helped to shape the NBA into the global phenomenon it is today. His legacy will continue to inspire generations of basketball fans for years to come.
Jerry Buss Net Worth at Death
Jerry Buss, the former owner of the Los Angeles Lakers, had an estimated net worth of $1 billion at the time of his death in 2013. His wealth was largely derived from his ownership of the Lakers, which he purchased in 1979 for $6.5 million. Under Buss's ownership, the Lakers won 10 NBA championships and became one of the most valuable sports franchises in the world.
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- Ownership: Buss's ownership of the Lakers was the primary source of his wealth.
- Investments: In addition to the Lakers, Buss also had investments in other businesses, including real estate and oil.
- Philanthropy: Buss was a generous philanthropist, donating millions of dollars to various charities.
- Legacy: Buss's legacy as a successful businessman and philanthropist will continue to inspire generations to come.
Buss's success was due in part to his shrewd business acumen. He was able to turn the Lakers into one of the most profitable sports franchises in the world. He also had a keen eye for talent, and he was able to assemble some of the greatest players in NBA history, including Kareem Abdul-Jabbar, Magic Johnson, and Kobe Bryant.
Buss was also a pioneer in the sports entertainment industry. He was one of the first owners to understand the importance of marketing and promotion. He created the Lakers Girls dance team and introduced halftime shows featuring popular music artists. These innovations helped to make the Lakers one of the most popular and recognizable sports franchises in the world.
Buss's death in 2013 was a major loss for the sports world. He was a visionary leader who helped to shape the NBA into the global phenomenon it is today. His legacy will continue to inspire generations of basketball fans for years to come.
1. Ownership
Jerry Buss's ownership of the Lakers was the primary source of his wealth. He purchased the team in 1979 for $6.5 million, and under his ownership, the Lakers won 10 NBA championships and became one of the most valuable sports franchises in the world. Buss's success was due in part to his shrewd business acumen. He was able to turn the Lakers into one of the most profitable sports franchises in the world. He also had a keen eye for talent, and he was able to assemble some of the greatest players in NBA history, including Kareem Abdul-Jabbar, Magic Johnson, and Kobe Bryant.
Buss's ownership of the Lakers was a major factor in his net worth at death. At the time of his death in 2013, Buss had an estimated net worth of $1 billion. His ownership of the Lakers was estimated to be worth around $600 million.
The connection between Buss's ownership of the Lakers and his net worth at death is significant. It shows that ownership of a successful sports franchise can be a major source of wealth. It also shows that Buss was a shrewd businessman who was able to turn the Lakers into one of the most valuable sports franchises in the world.
2. Investments
Jerry Buss's investments in other businesses, including real estate and oil, contributed to his net worth at death.
- Real estate: Buss owned a number of properties in Los Angeles and other parts of California. These properties included office buildings, apartment buildings, and retail space. Buss's real estate investments were estimated to be worth around $200 million at the time of his death.
- Oil: Buss also had investments in the oil industry. He owned a number of oil wells in Texas and Oklahoma. Buss's oil investments were estimated to be worth around $100 million at the time of his death.
Buss's investments in other businesses helped to diversify his wealth and reduce his risk. By investing in a variety of assets, Buss was able to protect his wealth from downturns in any one particular sector.
3. Philanthropy
Jerry Buss's philanthropy contributed to his net worth at death in several ways:
- Tax deductions: Buss was able to deduct his charitable donations from his taxable income, which reduced his tax liability. This allowed him to keep more of his wealth.
- Increased value of assets: Buss's charitable donations often took the form of gifts of stock or property. These gifts helped to increase the value of his assets, which contributed to his net worth.
- Reputation: Buss's philanthropy helped to enhance his reputation as a generous and compassionate person. This reputation made it easier for him to attract investors and business partners, which contributed to his overall net worth.
Overall, Buss's philanthropy was a significant factor in his net worth at death. By donating millions of dollars to various charities, Buss was able to reduce his tax liability, increase the value of his assets, and enhance his reputation.
4. Legacy
Jerry Buss's legacy as a successful businessman and philanthropist is inextricably linked to his net worth at death. His business acumen and philanthropic endeavors were major factors in his accumulation of wealth.
As a businessman, Buss was a pioneer in the sports entertainment industry. He transformed the Lakers into one of the most profitable and recognizable sports franchises in the world. He also played a major role in the development of the NBA's entertainment business.
As a philanthropist, Buss donated millions of dollars to various charities, including the UCLA Medical Center and the Los Angeles County Museum of Art. He was also a major supporter of the Democratic Party and served on the board of directors of the Clinton Foundation.
Buss's legacy as a successful businessman and philanthropist will continue to inspire generations to come. He was a visionary leader who helped to shape the NBA into the global phenomenon it is today. His philanthropic work has also made a significant impact on the lives of many people.
FAQs about Jerry Buss's Net Worth at Death
Jerry Buss, the former owner of the Los Angeles Lakers, had an estimated net worth of $1 billion at the time of his death in 2013. His wealth was largely derived from his ownership of the Lakers, which he purchased in 1979 for $6.5 million. Under Buss's ownership, the Lakers won 10 NBA championships and became one of the most valuable sports franchises in the world.
Here are some frequently asked questions about Jerry Buss's net worth at death:
Question 1: What was the primary source of Jerry Buss's wealth?
Answer: The primary source of Jerry Buss's wealth was his ownership of the Los Angeles Lakers. He purchased the team in 1979 for $6.5 million, and under his ownership, the Lakers won 10 NBA championships and became one of the most valuable sports franchises in the world.
Question 2: What other investments did Jerry Buss have?
Answer: In addition to the Lakers, Jerry Buss also had investments in other businesses, including real estate and oil. His real estate investments were estimated to be worth around $200 million at the time of his death, and his oil investments were estimated to be worth around $100 million.
Question 3: Did Jerry Buss's philanthropy affect his net worth at death?
Answer: Yes, Jerry Buss's philanthropy did affect his net worth at death. He donated millions of dollars to various charities, which reduced his tax liability, increased the value of his assets, and enhanced his reputation. These factors all contributed to his overall net worth.
Question 4: What is Jerry Buss's legacy?
Answer: Jerry Buss's legacy as a successful businessman and philanthropist will continue to inspire generations to come. He was a visionary leader who helped to shape the NBA into the global phenomenon it is today. His philanthropic work has also made a significant impact on the lives of many people.
Question 5: What can we learn from Jerry Buss's life and career?
Answer: There are many things we can learn from Jerry Buss's life and career. He was a shrewd businessman who was able to turn the Lakers into one of the most profitable sports franchises in the world. He was also a generous philanthropist who donated millions of dollars to various charities. Buss's life and career show us that it is possible to achieve great success in business and philanthropy.
Summary: Jerry Buss was a visionary leader who made a significant impact on the sports and entertainment industries. His business acumen and philanthropic endeavors contributed to his net worth at death of $1 billion. Buss's legacy will continue to inspire generations to come.
Transition to the next article section: Jerry Buss's life and career are a testament to the power of hard work, dedication, and giving back to the community.
Conclusion
Jerry Buss, the former owner of the Los Angeles Lakers, had an estimated net worth of $1 billion at the time of his death in 2013. His wealth was largely derived from his ownership of the Lakers, which he purchased in 1979 for $6.5 million. Under Buss's ownership, the Lakers won 10 NBA championships and became one of the most valuable sports franchises in the world.
Buss's success was due in part to his shrewd business acumen. He was able to turn the Lakers into one of the most profitable sports franchises in the world. He also had a keen eye for talent, and he was able to assemble some of the greatest players in NBA history, including Kareem Abdul-Jabbar, Magic Johnson, and Kobe Bryant.
Buss was also a pioneer in the sports entertainment industry. He was one of the first owners to understand the importance of marketing and promotion. He created the Lakers Girls dance team and introduced halftime shows featuring popular music artists. These innovations helped to make the Lakers one of the most popular and recognizable sports franchises in the world.
Buss's death in 2013 was a major loss for the sports world. He was a visionary leader who helped to shape the NBA into the global phenomenon it is today. His legacy will continue to inspire generations of basketball fans for years to come.
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