Mark Walter: The billionaire behind the $10 billion LA Lakers deal
AP Los Angeles Dodgers co-owner Mark Walter (right) talks with manager Don Mattingly prior to their baseball game against the San Diego Padres. (File AP Photo/Mark J. Terrill, File)
Mark Walter, the billionaire financier behind the record-breaking $10 billion deal to acquire a majority stake in the Los Angeles Lakers, is the CEO of TWG Global and a co-founder of Guggenheim Partners, an investment firm managing over $325 billion in assets.
Walter is no stranger to the sports world - he already owns stakes in the Los Angeles Dodgers, Chelsea FC, and the WNBA's Sparks. His expanding portfolio and deep pockets make him one of the most influential figures in global sports ownership.
In addition, TWG holds ownership stakes in the Billie Jean King Cup tennis tournament and the Cadillac Formula One team, further expanding its global sports footprint.
Walter also owns the Professional Women's Hockey League (PWHL), where the champion team each year is awarded the Walter Cup, a trophy named after him.
ALSO READ: Buss family to sell Lakers to Mark Walter in record-breaking $10 billion deal
According to ESPN, Walter first entered the Lakers ownership group in 2021 by purchasing Phil Anschutz's 26% stake in the team. As part of that deal, Walter secured the right of first refusal should the Buss family decide to sell their 66% controlling stake. That strategic move positioned him as the frontrunner for future ownership. Nearly four years later, Walter is now set to acquire majority control of the Lakers at a staggering $10 billion deal, capitalizing on the opportunity built into his initial investment. Although Jeanie Buss will continue to serve as the Lakers' governor and oversee day-to-day operations for the foreseeable future, the long-term future of the franchise now rests in the hands of Walter. According to a source cited by ESPN, the Buss family will retain a minority stake in the Lakers, just over 15%, for a period of time following the sale.
Walter has an estimated net worth of $12.4 billion, according to the Bloomberg Billionaires Index, while Forbes places his wealth at $6.1 billion. He is the CEO of Guggenheim Partners, a global financial services firm managing over $300 billion in assets. Walter co-founded the firm in the late 1990s by merging his Chicago-based investment company, Liberty Hampshire, with the Guggenheim family office.
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