Wednesday evening marked a seismic shift in Los Angeles basketball. Reports confirmed that the Buss family, long regarded as NBA royalty, has sold its majority stake in the Los Angeles Lakers. The family, led by the late Dr. Jerry Buss, purchased the team in 1979 and oversaw 11 NBA championships, cementing their legacy as one of the most successful ownership groups in league history.
While the sale signals the end of an era, Lakers fans may take some comfort in the credentials of the team’s new owner, Mark Walter. The billionaire investor brings proven experience in the sports world along with the financial resources to absorb luxury tax penalties and build a championship contender in a major market.
So just how much financial firepower does Walter bring to the table? Here’s a closer look at his net worth offers some perspective.
What Is Mark Walter’s Net Worth?
After years of quietly establishing control over sports in Los Angeles, Walter has seemingly added the Lakers to an already stacked portfolio.
Back in 2022, Walter purchased a 26% stake in the franchise, a deal that included a right of first refusal. This clause gave him the first opportunity to buy additional shares, effectively preventing the Buss family from selling to any other buyer.
It was a strategic move that laid the groundwork for this moment.
BREAKING: The Buss family is entering an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the CEO and chairman of diversified holding company TWG Global, sources tell ESPN. Jeanie Buss will continue to serve in her role as Governor after the sale. pic.twitter.com/1Da6LDD7TJ
– Shams Charania (@ShamsCharania) June 18, 2025
Now, the estimates on Walter’s net worth differ significantly. While Forbes listed his net worth at $6.1 billion, Bloomberg’s estimate is more than twice this number at $12.5 billion.
How Did the Los Angeles Lakers’ New Owner Make His Fortune?
Walter initially practiced law and worked at First Chicago Capital Markets. However, his entrepreneurial spirit soon led him to co-found Liberty Hampshire Company, an investment management and personal financing firm.
It was during this period that a pivotal introduction to J. Todd Morley, who then connected him with Peter Lawson-Johnston II (a descendant of the prominent Guggenheim family), laid the groundwork for their next venture.
Together, the trio launched Guggenheim Partners, a financial services titan that today manages an estimated $330 billion in assets. Walter’s influence extends further through TWG Global, a diversified holding company spun out of Guggenheim, where he serves as CEO and holds a 21% ownership stake.
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Walter’s investment acumen isn’t limited to the financial sector. He has made substantial inroads into professional sports, most notably as the controlling owner of the Los Angeles Dodgers. In 2012, his Guggenheim Baseball Management group acquired the team for a then-record $2.15 billion.
With a 27% stake, Walter has largely adopted a hands-off ownership style, a strategy that has coincided with remarkable success for the Dodgers. Since 2013, the team has consistently reached the postseason, secured two World Series titles, and attracted a roster of elite talent, including Japanese sensation Shohei Ohtani.
That track record should give Lakers fans plenty of optimism as the franchise turns the page on a historic chapter. Walter isn’t just stepping in with deep pockets. He brings a wealth of experience from across the sports world. He owns a share of the Los Angeles Sparks, holds full ownership of the Professional Women’s Hockey League, and has ties to global powerhouses like Chelsea FC and the Cadillac Formula 1 team.
With the Buss era now in the rearview, the Lakers appear to be in the hands of an owner who understands both business and winning.
