It has been all change at the Lakers in the last few years – and we’re not talking about LeBron leaving for Philadelphia (or a commute from New York, if the rumors are to be believed).
Not even a year after Mark Walter bought the franchise from the Buss family for a reported $10 billion, the biggest team in basketball has new owners, again.
Bob Iger and Josh Kushner agreed to take the Lakers off of Walter’s hands for a cool $12.5 billion. Not bad business for Mark Walter, and now those two can claim to own one of the most prestigious and wealthy teams in the whole of sports, and one that is a feature on all the best California sports betting apps.
The start of the new NBA season is still a little way off, but hoops fans will understandably be keen to know more about the new owners of the Lakers. How did Bob Iger make his money? What other business interests does he have? And what is the net worth of one of sports’ newest money men?
How Much is Bob Iger Worth?
Bob Iger may be an incredibly wealthy individual, thanks to his background in the entertainment industry, but he is not part of the billionaire class of NBA owners.
Many sports team owners across the major league can now boast of having that much money, but it is estimated that Bob Iger has a net worth of around $600 million.
Much of his wealth comes from the share options he has accrued during his time with Disney, as well as consultancy work and the real estate he and his wife have invested in over the years.
Early Life of Bob Iger
Unlike his new co-owner at the Lakers, Bob Iger was not born into money. He was born in New York City to a father who was a WW2 veteran and later worked in advertising, and a mother who worked in a high school.
After attending high school on Long Island, Iger graduated magna cum laude from Ithaca College with a degree in Television and Radio.
How Iger Made Money in the Movie Business?
Iger started his entertainment career at the Ithaca College television station before joining ABC in 1974. He started off working menial jobs before climbing the ladder in a series of junior production roles. Iger showed an aptitude for the programming and business side of TV, ultimately becoming head of ABC Entertainment.
Iger’s ability to spot a good TV show continued to gain him fans higher up in the business, and he was made the president of ABC’s parent company before Disney swooped in to acquire the network in 1995. Four years later, Iger moved to the Disney side of the business, becoming president there, before being named CEO in 2005.
At the time of Iger’s appointment, Disney was experiencing a lean time, but he turned things around by making a number of very important – and profitable – decisions. Iger can be credited with bringing Pixar into the fold, as well as acquiring the rights to Marvel before the incredible success of the MCU series.
Disney would also acquire Lucasfilm, home to the Star Wars movies, and 21st Century Fox under Iger’s stewardship.
After all this success, Iger retired in 2021, only to be lured back just a year later to save Disney once again. He only took a relatively small salary, but made his millions from shares and stock options, making him one of the highest-paid executives in the entertainment business.
Iger’s Previous Involvement in Sports
Iger retired from Disney for the second time earlier this year, although he is still retained as an advisor. But his involvement in sports goes back further than his part in the Lakers buyout. In 2024, alongside his wife Willow Bay, Iger acquired a controlling interest in Angel City FC of the NWSL.
Partnership with Josh Kushner
Bob Iger first became involved with Josh Kushner when he first retired from Disney. Kushner is the younger brother of Jared Kushner and made money from the business set up by his successful grandfather and father, who were involved in real estate in New Jersey and later New York.
Kushner set up venture capital firm, Thrive Capital, in 2009, and Iger developed a relationship with him there in an advisory role.
Iger became a venture partner before leaving when he rejoined Disney. He has since continued as an advisor after retiring from the entertainment giant for a second time this year.
Kushner has previously been a minority owner at both the Memphis Grizzlies and the Miami Heat, but had joined with Iger to look into being part of the proposed NBA expansion team in Las Vegas. Becoming owners of the Los Angeles Lakers must have been too good an opportunity to turn down, however.
Lakers Future With Bob Iger
As Iger is not a billionaire, it is most likely that he is acting as the public face of a number of other investors in the Lakers, but he is expected to play a major role in the franchise’s future.
With Kushner taking a controlling owner position, Iger is more suited to participating in the ownership group.
Iger’s experience in entertainment and sports – as well as a lifetime of doing business in Hollywood – makes co-owning arguably the most show business sports team on the planet a natural next move. He may already be 75 years old, but Bob Iger shows no sign of slowing down after retiring from Disney.
He is now a very public face of a Californian cultural icon and will be using all his skills and talent to bring more success and profitability to the Lakers in the coming years.
