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The former mathematician claimed his fortune grew out of a $1,000 real-estate investment in a West Los Angeles apartment building with partner Frank Mariani, an aerospace engineer and co-worker.
Buss purchased Cooke’s entire Los Angeles sports empire in 1979, including a 13,000-acre ranch in Kern County. Buss’ love of basketball was the motivation for his purchase, and he immediately worked to transform the Lakers — who had won just one NBA title since moving west from Minneapolis in 1960 — into a star-powered endeavor befitting Hollywood.
"One of the first things I tried to do when I bought the team was to make it an identification for this city, like Motown in Detroit," he told the Los Angeles Times in 2008. "I try to keep that identification alive. I’m a real Angeleno. I want us to be part of the community."
Buss’ plans immediately worked: Johnson, Abdul-Jabbar and coach Paul Westhead led the Lakers to the 1980 title. Johnson’s ball-handling wizardry and Abdul-Jabbar’s smooth inside game made for an attractive style of play evoking Hollywood flair and West Coast sophistication.
Riley, the former broadcaster who fit the L.A. image perfectly with his slick-backed hair and good looks, was surprisingly promoted by Buss early in the 1981-82 season after West declined to co-coach the team. Riley became one of the best coaches in NBA history, leading the Lakers to four straight NBA finals and four titles, with Worthy, Michael Cooper, Byron Scott and A.C. Green playing major roles.
Overall, the Lakers made the finals nine times in Buss’ first 12 seasons while rekindling the NBA’s best rivalry with the Boston Celtics, and Buss basked in the worldwide celebrity he received from his team’s achievements. His womanizing and partying became Hollywood legend, with even his players struggling to keep up with Buss’ lifestyle.
Johnson’s HIV diagnosis and retirement in 1991 staggered Buss and the Lakers, the owner recalled in 2011. The Lakers struggled through much of the 1990s, going through seven coaches and making just one conference finals appearance in an eight-year stretch despite the 1996 arrivals of O’Neal, who signed with Los Angeles as a free agent, and Bryant, the 17-year-old high schooler acquired in a draft-week trade.
Shaq and Kobe didn’t reach their potential until Buss persuaded Jackson, the Chicago Bulls’ six-time NBA champion coach, to take over the Lakers in 1999. Los Angeles immediately won the next three NBA titles in brand-new Staples Center, AEG’s state-of-the-art downtown arena built with the Lakers as the primary tenant.
After the Lakers traded O’Neal in 2004, they hovered in mediocrity again until acquiring Gasol in a heist of a trade with Memphis in early 2008. Los Angeles made the next three NBA finals, winning two more titles.
Through the Lakers’ frequent successes and occasional struggles, Buss never stopped living his Hollywood dream. He was an avid poker player, frequently participating in high-stakes tournaments, and a fixture on the Los Angeles club scene well into his 70s, when a late-night drunk-driving arrest in 2007 — with a 23-year-old woman in the passenger seat of his Mercedes-Benz — prompted him to cut down on his partying.
Buss owned the NHL’s Kings from 1979-87, and the WNBA’s Los Angeles Sparks also won two league titles under Buss’ ownership. He also owned Los Angeles franchises in World Team Tennis and the Major Indoor Soccer League.
Buss’ six children all have worked for the Lakers organization in various capacities for several years. Jim Buss, the Lakers’ executive vice president of player personnel and the second-oldest child, has taken over much of the club’s primary decision-making responsibilities in the last few years, while daughter Jeanie runs the franchise’s business side.
Jerry Buss still served two terms as president of the NBA’s Board of Governors and was actively involved in the 2011 lockout negotiations, developing blood clots in his legs attributed to his extensive travel during that time.
Associated Press writer Andrew Dalton contributed to this report.
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