Mark Walter is set to become the new majority owner of the Los Angeles Lakers, finalizing a landmark agreement that values the iconic NBA franchise at an unprecedented $10 billion. The deal, as reported by ESPN, marks the most expensive sale of a professional sports team in U.S. history—and it places Walter, already a significant force in the world of sports ownership, squarely at the helm of the Lakers' future.

But with “Mark Walter” spiking as a trending search, the question on many fans' minds is simple: Who is Mark Walter?

Lakers Sale Details: Jeanie Buss Stays in Charge—For Now

The sale ends nearly half a century of Buss family control. Dr. Jerry Buss purchased the Lakers in 1979 for just $67.5 million, launching an era that produced 11 championships and some of the sport’s most iconic moments. Under the agreement, the Buss family will retain a minority stake—just over 15%—and Jeanie Buss will remain team governor and operator “for at least a number of years,” according to sources familiar with the deal.

Walter, who already owns a 26% minority stake in the team after acquiring it from Phil Anschutz in 2021, exercised his right of first refusal to buy the remaining shares. The deal was approved by a majority vote among the Buss siblings.

Endorsed by franchise legend Magic Johnson and current Dodgers manager Dave Roberts, the sale is being welcomed by many in L.A. sporting circles.

"Job well done to my sister Jeanie Buss for striking an incredible deal and picking the right person to carry on the @Lakers legacy and tradition of winning - Mark Walter, my business partner and friend! Mark Walter is the best choice and will be the best caretaker of the Laker brand. The proof is in the pudding on what he’s been able to accomplish with the LA Dodgers. Mark has been nothing short of a winner notching 2 World Series and 11 NL West divisional titles in the last 12 years!"

Who Is Mark Walter?

Mark Walter, 64, is a billionaire investor and executive known for avoiding the spotlight even as he shapes the future of major sports franchises. Born in Cedar Rapids, Iowa, Walter attended Creighton University before earning his law degree from Northwestern University in 1985. He began his career in finance and eventually co-founded Guggenheim Partners—a financial services firm that now manages more than $330 billion in assets.

Today, Walter serves as CEO and Chairman of TWG Global, a diversified holding company spun out of Guggenheim. TWG Global has become the engine behind Walter’s expanding empire of sports investments.

A business insider once described Walter as “one of the great financial minds of our time,” according to The Los Angeles Times.

How Rich Is Mark Walter?

Mark Walter’s net worth is estimated between $6.1 billion and $12.5 billion, depending on the source. Forbes estimates his wealth at $6.1 billion, while Bloomberg puts it significantly higher at $12.5 billion.

Much of that wealth comes from his financial ventures—but his savvy sports acquisitions have only amplified his profile.

Walter’s Sports Empire

Walter is already deeply embedded in professional sports through a broad and growing portfolio:

• Los Angeles Dodgers – Walter led Guggenheim Baseball Management's $2.15 billion purchase of the Dodgers in 2012. He owns 27% of the team and has overseen a period of unmatched success, including two World Series titles and 11 consecutive postseason appearances.
• Chelsea FC – Walter holds a stake in the English Premier League club as part of a U.S.-led investment group.
• Los Angeles Sparks – He is one of six co-owners of the WNBA’s Sparks.
• Professional Women’s Hockey League (PWHL) – Walter is the primary owner and funder. The championship trophy, the Walter Cup, bears his name.
• Cadillac Formula 1 – Through TWG Motorsports, Walter owns teams in the expanding F1 circuit.

From baseball and basketball to women’s hockey and European football, Walter’s influence spans sports, continents, and leagues.

What This Means for the Lakers

While Walter prefers to remain behind the scenes, his track record suggests he prioritizes winning, financial stability, and high-caliber talent. Dodgers fans have seen the results firsthand, as Walter consistently funded competitive rosters that included megastars like Shohei Ohtani and Mookie Betts.

That same winning ethos could soon shape the next era of Lakers basketball.

The Lakers are currently led by superstar Luka Dončić, who was given advance notice of the sale, according to ESPN. With Jeanie Buss still in charge operationally and Walter supplying the long-term vision and resources, L.A. fans may be witnessing a carefully planned leadership transition aimed at blending legacy and innovation.

Looking Ahead

Mark Walter's acquisition of the Lakers isn't just a business transaction—it’s a seismic shift for one of the NBA’s most storied franchises. With deep financial resources, a multi-sport ownership pedigree, and the endorsement of Lakers royalty like Magic Johnson, Walter is poised to usher in a new era of Lakers basketball—quietly, but powerfully.

If history is any indication, winning is likely to follow.