Gerald Hatten Buss reshaped the landscape of professional sports ownership through his 1979 acquisition of the Los Angeles Lakers. Far from a traditional sports executive, he brought a background in chemistry and a lucrative real estate portfolio to the arena, transforming the Lakers into a global brand defined by the entertainment-focused Showtime era.
Early Development and Academic Training
Born in Salt Lake City in 1933, Buss experienced a nomadic childhood before moving to Los Angeles at age nine and later to Kemmerer, Wyoming. His early employment included manual labor at the Kemmerer Hotel and the Union Pacific Railroad. He utilized a scholarship to complete a Bachelor of Science degree at the University of Wyoming in just two and a half years. By 1957, at the age of 24, he had secured both an MS and a PhD in physical chemistry from the University of Southern California.
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Buss initially pursued a career in science, working for Arthur D. Little and the Bureau of Mines, alongside an aerospace role at McDonnell Douglas. To supplement his academic salary, he purchased his first apartment building in West Los Angeles for $1,000 in 1959. This investment proved successful, leading to a partnership with Frank Mariani under the firm Mariani-Buss Associates. By 1979, the firm managed approximately 700 properties across Nevada, California, and Arizona. His diverse interests also included producing the 1974 film Black Eye and owning a Playboy Club in Phoenix.
Sports Franchise Management
On May 29, 1979, Buss executed a $67.5 million deal to acquire the Los Angeles Lakers, the Los Angeles Kings, The Forum, and a Sierra Nevada ranch. Under his leadership, the Lakers secured 10 NBA championships featuring players like Magic Johnson and Kobe Bryant. He also operated the WNBA’s Los Angeles Sparks, winning two titles. In 1999, he relocated these franchises to the Staples Center, having previously sold The Forum. His influence on the sport was formally recognized with his 2010 induction into the Naismith Memorial Basketball Hall of Fame.
Philanthropic Contributions
Buss maintained a long-term connection to his alma mater, USC, where he served on the College Board of Councilors. In 2008, he provided $7.5 million to the Department of Chemistry to establish graduate scholarships and endowed chairs in honor of professors Sidney Benson and David Dows. Beyond academic support, he practiced internal philanthropy by ensuring that long-term employees, such as Walt Hazzard, remained on the payroll throughout their careers despite health challenges.
Fast facts
- Born: 1933, Salt Lake City
- Died: 2013, Los Angeles
- Education: University of Wyoming, University of Southern California
- Lakers Championship Wins: 10
- Hall of Fame Induction: 2010
- Key Real Estate Purchase: 1979, Pickfair
- Burial Site: Forest Lawn Memorial Park
Questions readers ask
How did Jerry Buss acquire the Lakers?
He purchased the team, along with the Los Angeles Kings and The Forum, from Jack Kent Cooke for $67.5 million in 1979.
What was the professional background of Jerry Buss?
He was an entrepreneur and real estate investor who originally trained as a physical chemist, holding a PhD from the University of Southern California.
Achievements
- Affiliated with University of Southern California
- Educated at University of Wyoming and University of Southern California
