Jerry Buss, best known for his ownership of the Los Angeles Lakers basketball team, was also a member of the real estate community. He made is money through his ownership of residential apartment complexes, hotels, and office buildings.
His partnership in Mariani-Buss Associates with Frank Mariani created the wealth so that he could be able to own the Lakers. He will be remembered.
Buss had incredible foresight and intuition. With money he saved working in aerospace, Buss wisely invested $1,000 in some undervalued California real estate in the 1960’s. His work ethic and business savvy led to the huge success of Mariani-Buss Associates. By 1979, Buss had more than enough to buy the package of the Lakers, L.A. Kings, the Forum, and a 13,000-acre ranch, which he purchased from Jack Kent Cooke for just shy of $70 million.
Using his knowledge of business, chemical reactions and combinations, Buss created championships on the basketball court. The Lakers have won 10 NBA Titles since Buss took over the organization, pulling the Lakers to within one championship of tying the mighty Boston Celtics for 17 NBA Championships all-time.
Dr. Jerry Buss had neither Gladwell’s 10,000-hours in the field, nor an accumulative advantage, the idea that the ‘rich get richer.’ Instead, Buss became successful through an improbable combination of hard-work, motivation, intuition, timing, location, and management skills. via the Hoop Doctor
Read More On Jerry Buss’s passing:
I didn't realize that Jerry Buss accumulated so much of his wealth through real estate. This story not only honors his lifetime achievements, but it's also a good example of the fact that real estate has historically been a solid investment option (despite the ups and downs we're seeing right now).
Wow, savvy guy with a multi-faceted legacy. Hard work and smarts pay off in all areas of life – including real estate!
Thanks for sharing this to us, your blog is really great we can learn something to it, keep up the good work my friend.