Jerry Buss, the owner of the Los Angeles Lakers since 1979, passed away at 80 years old due to an undisclosed form of cancer, according to the Los Angeles Times. Buss was born on January 27, 1933 in Salt Lake City. Before becoming one of the most successful sports owners of all time, Buss had earned a B.S. in chemistry from the University of Wyoming in two and a half years. After that, he achieved an M.S. and Ph. D in physical chemistry from the University of Southern California (USC). He was a professor at USC until entering real estate, which he did until buying the Lakers and Kings.
Buss is credited with ushering in the Showtime Lakers, when the Lakers drafted Earvin "Magic" Johnson with the first overall pick in the 1979 NBA draft and paired him with Hall of Fame center Kareem Abdul-Jabbar. During Buss' tenure as Lakers' owner, he won 10 NBA titles and transformed the Lakers into one of the NBA's premier teams in terms of accomplishments and exposure. Buss also owned the Los Angeles Sparks of the WNBA, winners of two titles and the Los Angeles Kings of the NHL, last year's Stanley Cup champions.
When Buss purchased the Lakers, Kings, and the Great Western Forum, an indoor arena in Inglewood, California he spent $67.5 million. The Lakers alone are now the NBA's most valuable team, worth $900 million according to Forbes. In the 34 years Buss owned the Lakers, they reached the NBA Finals 16 times.
In addition to his chemistry, real estate and sports career, Buss was also a professional poker player, finishing third in the 1991 World Series of Poker seven-card stud event, and second in the World Poker Tour Freeroll invitational.
Jerry Buss' son Jim now runs the Lakers basketball operations and his daughter Jeanie, is in charge of the business side. Jeanie Buss is also engaged to former Lakers' head coach Phil Jackson, who won five titles during Buss' tenure. Six children survive Buss. He fathered John, Jim, Jeanie and Janie with his ex-wife Joann Mueller, whom he divorced in 1968, and had two more children, Joey and Jesse, with then-girlfriend Karen Demel.
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