Meet the Lakers’ New Billionaire Owner Mark Walter: Wealth and Background Revealed!

According to reports by ESPN’s Shams Charania, the Buss family is set to sell the majority stake of the Los Angeles Lakers to Mark Walter, with the deal valuing the franchise at an estimated $10 billion. This transaction is poised to be the highest-ever sale value for a sports franchise in the U.S., outstripping the valuation of any other American sports team by nearly $4 billion.

Jeanie Buss will continue her role as the Lakers’ governor and will manage the team’s operations for several more years, although the strategic future direction of the team will predominantly rest with Walter.

So, who exactly is Mark Walter? Here’s what you need to know about the imminent majority owner of the Lakers.

Mark Walter’s Path to Lakers Ownership

Walter initially acquired a minority interest in the Lakers in 2021 by purchasing a 26% share from Phil Anschutz, as reported by ESPN’s Ramona Shelburne. This acquisition also included an option for first refusal should the Buss family decide to sell their 66% majority stake, setting the stage for Walter to elevate his ownership to a controlling stake about four years later.

Mark Walter: Business Background and Wealth

Born in Cedar Rapids, Iowa, Walter spent his early years in the Midwest, nurturing a fondness for the Chicago Cubs. He remained in the region for his education, obtaining a Bachelor’s degree in business from Creighton University and a law degree from Northwestern University in 1985.

After law school, Walter worked at a law firm before joining First Chicago Capital Markets. He later left to co-found Liberty Hampshire Company, a firm specializing in investment management and personal finance.

During this period, Walter met J. Todd Morley and Peter Lawson-Johnston II, a Guggenheim family descendant. Together, they founded Guggenheim Partners, which manages over $330 billion in assets. Walter is also a major stakeholder and CEO of TWG Global, a diversified holding company.

Though Walter is known for his privacy, an insider described him to The Los Angeles Times in 2012 as “one of the great financial minds of our time.”

Estimating Mark Walter’s Fortune

Estimates of Walter’s wealth vary significantly. Forbes places his net worth at $6.1 billion this year, whereas Bloomberg’s assessment is considerably higher, estimating his wealth at $12.5 billion.

Mark Walter’s Extensive Sports Ownership Portfolio

Apart from finance, Walter has heavily invested in sports. He is best known for his role in leading Guggenheim Baseball Management’s purchase of the Los Angeles Dodgers in 2012 for a then-record $2.15 billion, holding a 27% stake in the team. His leadership has seen the Dodgers reach the postseason consistently, bag two World Series titles, and sign star players like Shohei Ohtani, Mookie Betts, and Freddie Freeman.

Beyond baseball, Walter’s commitment extends to women’s sports, owning a sixth of the Los Angeles Sparks and the Professional Women’s Hockey League. The league’s championship trophy is named the Walter Cup in his honor.

Walter also holds stakes in Chelsea FC and the Cadillac Formula 1 team.

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