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Gerald Hatten Buss (January 27, 1933 – February 18, 2013) was an American businessman, investor, chemist, and philanthropist. He was the majority owner of the Los Angeles Lakers professional basketball team in the National Basketball Association (NBA), winning 10 league championships that were highlighted by the team's Showtime era during the 1980s. He is a member of the Naismith Memorial Basketball Hall of Fame as a contributor. Buss owned other professional sports franchises in Southern California.
Early life and business career[edit]
Born in Salt Lake City, Buss was raised by his divorced mother, Jessie. His father, Lydus, was an accountant who went on to teach statistics at Berkeley.[1] When he was nine years old, he moved with his mother to Los Angeles; they moved to Kemmerer, Wyoming, three years later when she remarried.[2] Buss earned a scholarship to the University of Wyoming,[3] graduating with a B.S. degree in two and a half years in 1953. He then returned to Los Angeles and attended the University of Southern California (USC), where he earned an M.S. and Ph.D. in physical chemistry in 1957 at the age of 24.[4] Buss started as a chemist for the Bureau of Mines (now the Mine Safety and Health Administration);[5] he then briefly worked in the aerospace industry and was on the faculty of USC's chemistry department.

Buss originally went to invest in real estate in order to provide an income so he could continue teaching. His first investment in the 1960s was $1,000 in a West Los Angeles apartment building.[6] Finding great success in the real estate business, he, along with longtime business partner, Frank Mariani, formed real estate investment company, Mariani-Buss Associates.[7]

In 1974, Buss produced a movie named Black Eye starring former gridiron star Fred "the Hammer" Williamson. In 1979, Jerry purchased Pickfair Mansion in Beverly Hills from the estate of Mary Pickford.[4]

He was an owner of the Phoenix location of the Playboy Club. In 1987, Buss sold the Pickfair, the 42-room Beverly Hills estate once owned by silent-screen stars Mary Pickford and Douglas Fairbanks, to Hollywood mogul Meshulam Riklis and Pia Zadora.[8]

Sports team ownership[edit]
Buss became an owner of the Los Angeles Strings in World Team Tennis. He purchased the Los Angeles Lakers of the NBA along with the Los Angeles Kings hockey team of the NHL, The Forum (all for a then-record combined $67.5 million for those three properties[9]), and a large ranch from Jack Kent Cooke in 1979.[10] Buss later sold his controlling interest in the Kings to Bruce McNall in 1988 (who made headlines that year by trading for Wayne Gretzky from the Edmonton Oilers), retaining ownership of the Lakers and The Forum. He then reached a major advertising agreement with Great Western Bank for the naming rights to The Forum, resulting in the official name of the building being changed to the Great Western Forum.

Later, when the WNBA was formed in 1996, Buss took charge of operating that league's Los Angeles franchise, the Los Angeles Sparks. Eventually, all three teams moved into a more modern arena in downtown Los Angeles, the Staples Center, which opened in 1999. As part of the deal to move the Lakers into Staples Center, Buss sold the Great Western Forum (which was later reverted to its original name).

The Lakers were very successful under Buss' ownership, winning ten NBA championships with such players as Kareem Abdul-Jabbar, Magic Johnson, James Worthy, Shaquille O'Neal, Kobe Bryant and Pau Gasol, and with coaches Pat Riley and Phil Jackson. He inspired the Lakers' Showtime era with his vision that basketball games must be entertaining.[11] The Sparks also experienced their share of success, winning two WNBA championships with such players as Lisa Leslie, Tamecka Dixon and DeLisha Milton-Jones.

In 2002, when the WNBA was restructured to give its teams individual owners, Buss took ownership of the Sparks. He sold the team in 2006. Buss also owned the Los Angeles Lazers of the Major Indoor Soccer League. The Lazers also played in The Forum. The team folded in 1989 and the league folded three years later.

His contributions to basketball were recognized by his induction into the Basketball Hall of Fame in 2010.[12]
Poker player[edit]
Buss was a high-stakes cash game poker player for many years, but later in life was more active in tournament games. His best finishes included third in the 1991 World Series of Poker seven-card stud event and second place in the 2003 World Poker Tour Freeroll invitational. He also appeared in the GSN series High Stakes Poker and the NBC late-night series Poker After Dark.[13]