The Big Lead

How new Los Angeles Lakers owner Mark Walter made his fortune

The Los Angeles Lakers are set to have a new majority owner, Mark Walter. Here's a look at how he made his fortune.

By Divij Kulkarni

Mark Walter, Owner and Chairman, Los Angeles Dodgers speaks during the unveiling ceremony at Dodger Stadium.
Mark Walter, Owner and Chairman, Los Angeles Dodgers speaks during the unveiling ceremony at Dodger Stadium. / Jayne Kamin-Oncea-Imagn Images
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It was announced on Wednesday that Jeanie Buss and the Buss family will be selling their majority stake in the Los Angeles Lakers. The man buying the NBA's most legendary franchise is Mark Walter, CEO of TWG Global, one of the world's most prominent financial minds.

Walter has been a minority owner of the Lakers since 2021, when he bought Phil Anschutz's 26% stake in the franchise. His company manages assets worth an estimated $330 billion, and Walter's net worth is substantial as well.

RELATED: Magic Johnson breaks silence on Buss family selling Lakers for $10 billion

Walter isn't new to sports fans in Los Angeles. He's been the primary owner of the LA Dodgers and brought two World Series titles to the city. But how did he get to this point?

Los Angeles Dodgers president Stan Kasten chairman and controlling owner Mark Walter and manager Dave Roberts.
Los Angeles Dodgers president Stan Kasten chairman and controlling owner Mark Walter and manager Dave Roberts. / Kirby Lee-Imagn Images

Mark Walter's Background And How He Amassed His Fortune

Walter was born and raised in Cedar Rapids, Iowa, where he graduated from Jefferson High School. He earned his Bachelor's degree in Business from Creighton University and subsequently graduated from Northwestern University's Pritzker School of Law in 1985.

Following law school, Walter briefly worked with a law firm and then for First Chicago Capital Market.

His first foray into business came when he co-founded the Liberty Hampshire Company, an investment management and personal financing company. During this time, he was introduced to Peter Lawson-Johnston II, a descendant of the Guggenheim family, by J. Todd Morley.

RELATED: Lakers' next owners include a name familiar to Dodgers fans: reports

The three would go on to start Guggenheim Partners, which now boasts $330 billion worth of assets under management. The Guggenheim Partners later founded TWG Global, in which Walter owns a 21% stake and is the CEO. A majority of his wealth has been amassed through this.

Aside from this, Walter has a personal stake in Beyond Meat. He has also purchased several commercial and historic buildings in Crested Butte, Colorado.

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