Quick Facts

James Hatten Buss, alias Jim Buss, is a co-owner and former Executive Vice President of the Los Angeles Lakers of the National Basketball Association. He is Jerry Buss’s second son. Apart from his managerial responsibilities, he is well-known for his passion for horseback riding.

Jim was the president of the Los Angeles Lazers prior to entering the basketball business. Additionally, let us take a closer look at the co-owner of the illustrious Los Angeles Lakers. To begin, let’s take a look at some quick facts regarding Jerry Buss’s second son.

How much is the Net Worth of Jim Buss?

Following Jim’s father’s death, Jerry’s 600 million$ estate and additional assets were distributed equally among the Buss siblings by their family trust. Jim Buss has yet to share additional information about his earnings. BUSS’S NET WORTH IS APPROXIMATELY $150 MILLION.

He earns the majority of his money through his basketball training career. Jim is currently living a luxury lifestyle and is thoroughly enjoying himself. However, information about personal assets such as a bungalow, bank balance, and many others is not currently available.

Childhood, Family, and Education

Jim Buss was born in Los Angeles County, California, on November 9th, 1959, to Jerry Buss and JoAnn Mueller. Jerry, Jim’s father, was an entrepreneur, chemist, philanthropist, and investor. Additionally, he owned a majority of the NBA’s “Los Angeles Lakers” professional basketball franchise.Jim was the second of the Buss family’s six children.

Johnny Buss, the eldest, Jeanie Buss, Janie Buss, and stepbrothers Joey Buss and Jesse Buss are the five siblings. Jim’s father and mother divorced in 2012, and his father died in 2013 from kidney failure caused by an unidentified type of cancer. Following his father’s death, the Los Angeles Lakers’ controlling ownership was divided equally among his six children.

Jim received his schooling at the University of Southern California, where he majored in mathematics. He then dropped out of college and spent his youth at racetracks, where he trained thoroughbreds, a horse breed that is ideally suited for horse racing. At the age of 20, James enrolled in the jockey school.

What is the Professional Career of Jim Buss?

Jim partnered with his best friend to invest in a small firm. Unfortunately, his friend’s death in a vehicle accident in 1988 left him sad and destitute, and their firm failed as a result. Soon after, James was appointed president of his father’s indoor soccer team, the Los Angeles Lazers, in 1985, following the resignation of his brother, Johnny.

He reduced annual losses from one million to half a million dollars. The squad, however, disbanded in 1989. After inheriting a half-dozen thoroughbreds from his father, he became a horse trainer.

He sold his horse racing stock, which had become increasingly unprofitable during 1997. Soon afterwards, he urged his son to join the Lakers, which he acquired in 1979 and transformed into one of the most profitable and popular franchises in sports.

Collaboration with the Lakers

Buss began his career with the Lakers in 1998 as an apprentice to Mitch Kupchak, Jerry West’s general manager and assistant. He remarked in an interview for the November 1998 issue of Sports Illustrated that evaluating basketball skills is not difficult and that the judgments of professional scouts and bar patrons are similar.

He then complimented the Lakers scout, but his remarks sparked outrage. Jim continued to study the business of basketball from his father, West, and subsequently Mitch Kupchak, who became general manager in 2000. Later that year, the organization promoted Jim to vice president of player personnel.

However, his father’s initial plan was for Buss to oversee basketball operations and his sister Jeanie to serve as vice president of the Lakers’ business operations. During the 2005 NBA season, Jim was a vocal proponent of picking high school player Andrew Bynum, a decision that required confirmation from his father.

Jim reportedly revealed that he fell in love with Bynum after observing his workout for five minutes. He was also instrumental in rehiring Phil Jackson as coach of the Los Angeles Lakers.  He was the only immediate family member present during Jackson’s welcome-back news conference.

Jim remained by Andrew Bynum’s side while he battled his ailments and immaturity. Additionally, he resisted Kobe Bryant’s request to trade Bynum. After Jackson’s retirement, the Lakers association named Brian Shaw as his replacement. However, Jim hired Mike Brown over Shaw without consulting the Laker’s top player Kobe Bryant.

Shaw, who is widely respected, made an unusual radio interview in which he condemned Jim for his treatment during the hiring process. The offseason was marked by an NBA player lockout, during which the Lakers parted ways with nearly two dozen workers with a combined 100 years of experience in basketball operations.

Ronnie Lester, Assistant General Manager, whose contract with the company was not renewed after 24 years, highlighted how great firms do not treat their employees in this manner. Additionally, CBSSports.com said that NBA executives are normally circumspect, and Lester’s public criticism demonstrated how firmly he believed the Lakers were in the wrong.

Jim expressed concern that the season would be canceled as a result and commented, “They had to do what they had to do.” It is not enjoyable, there is no doubt about that.” During the 2011–12 NBA season, Jim agreed to acquire Chris Paul from the New Orleans Hornets in exchange for Pau Gasol and Lamar Odom. However, NBA commissioner David Stern blocked the transaction.

The next NBA season, the Lakers acquired Steve Nash in exchange for Dwight Howard. The arrival of Howard signaled the start of the Lakers’ new dynasty. With a salary of $100 million, everyone assumed the Lakers would be title contenders. Brown, though, was released by the organization following a 1–4 start. His dismissal after five games was the NBA’s third-fastest coaching change.

The Lakers decided against re-hiring Jackson and instead hired Mike D’Antoni as coach in a unanimous vote by Buss, his father, and Mitch Kupchak. Jerry Buss’s 66 percent managerial ownership of the Los Angeles Lakers was transferred to his six children via a trust in 2013, with each kid receiving an equal vote.

Jerry’s succession plan called for Jeanie to take over as Lakers governor and team representative at NBA Board of Governors meetings. After the season, the Lakers were unable to re-endorse Howard. He signed with the Houston Rockets after declining the Lakers’ offer of $30 million.

Jim’s sister Jeanie remarked that she would feel more secure in her business relationship with Buss if she had a better understanding of the basketball decision-making process. During the 2013–2014 NBA season, Jeanie was named Lakers president, where she oversaw the team’s basketball operations with Jim.

He retained his position as Executive Vice President of basketball operations for the Lakers. Magic Johnson, a former Lakers player and part-owner who was also close to Jim’s father, highlighted how Buss needed to set aside his ego and seek assistance in recruiting free agent players versus rival clubs.

Jim endorsed Bryant to a two-year agreement worth $48.5 million during the same season, even before he recovered from an injury. According to the Los Angeles Times, the acquisition was one of the worst decisions made by the Lakers.

Jim Buss’s dismissal

In January 2014, Jim made a promise to his siblings that he would resign if the Lakers did not contend for the Western Conference title in three to four years. According to his sister Jeanie, he was retained due to his self-imposed deadline and the expectation that he would lead the Lakers.

Jim was, however, fired as head of the Lakers’ basketball operations on February 21, 2017, despite remaining a part-owner of the team per their father’s will. Jim was terminated as a trustee of the Buss family trust and was removed from the Laker’s board of directors following a disagreement with his sister Jeanie over ownership.

Who is Jim Buss married to?

Jim is typically reserved and avoids the limelight. As a result, his private life is rarely known to the public. According to reports, Jim married in 1983 and divorced months later for unavoidable circumstances.

They adopted their son Jager Buss jointly and continued to live together as a result of a social worker monitoring the couple during the adoption process. In 1985, the couple divorced, and Jim was awarded exclusive custody of their son.

Additionally, he has two daughters, Micaela Buss and Milahna Buss. None of the sources have divulged information about Jim’s associates.

Social Media

Buss is not a social media user. His hashtags, on the other hand, are highly active.

 FAQs

How much is the Buss family worth?

The Buss siblings have billions of dollars between them and a 66% stake in the Lakers franchise. If the team is put on the market today, the Buss family would likely get upwards of $4 billion, although a bidding war could bring it even higher.

Did he own the Lakers?

Jim is a part-owner of the Lakers, along with his five siblings.

Why did he leave the Lakers?

After a dispute with his sister Jeanie over ownership of the team, he was removed from the Lakers board of directors.

How long did Jim Buss own the Lakers?

Jim has owned the Lakers for almost 3 years.

How much is Jim Buss’s L.A. house worth?

According to sources, Jim Buss’s L.A. house is worth $10.95 million.

Did Jim Buss select Luol Deng for the Los Angeles Lakers?

Yes, Jim Buss and Mitch Kupchak’s administration selected Luol Deng for the Los Angeles Lakers.

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