From Iowa to NBA Powerhouse: How Mark Walter Quietly Built a $330 Billion Empire—and Now Owns the Lakers
In a move that has sent shockwaves through the sports and business worlds alike, Mark Walter, a soft-spoken billionaire from Cedar Rapids, Iowa, is now the majority owner of one of the most iconic franchises in sports history: the Los Angeles Lakers.
While the headlines celebrate the massive $10 billion valuation and the historic transfer of control from the Buss family, the real story is how Walter—a lawyer turned financial titan—quietly ascended from the Midwest to become one of the most influential figures in American sports ownership.
Humble Beginnings in the Heartland
Mark Walter was born and raised in Cedar Rapids, Iowa. After graduating from Jefferson High School, he earned a degree in Business from Creighton University. He then attended Northwestern University’s Pritzker School of Law, graduating in 1985.
It was an unassuming start for someone destined to run a financial empire. Walter’s early career was conventional: he practiced law briefly and then worked for First Chicago Capital Markets. But ambition and vision soon led him elsewhere.
Building a Financial Giant
Walter co-founded Liberty Hampshire Company, an investment and personal finance firm. It was there he met Peter Lawson-Johnston II, heir to the Guggenheim family fortune, and J. Todd Morley. Together, they launched Guggenheim Partners—now a global investment juggernaut managing over $330 billion in assets.
Under Walter’s leadership, Guggenheim flourished by quietly acquiring underpriced assets and making strategic plays in industries ranging from insurance to entertainment. Later, Walter became the CEO of TWG Global, a firm linked to Guggenheim and focused on sports, media, and real estate ventures.
Entering the World of Sports
Walter is no stranger to the Los Angeles sports scene. He acquired controlling interest in the Los Angeles Dodgers in 2012, helping revitalize the franchise and guide them to multiple playoff runs and two World Series titles. That move not only won the hearts of fans but also demonstrated Walter’s savvy in building sports brands into financial assets.
His involvement with the Lakers began in 2021, when he purchased a 26% stake from Phil Anschutz, making him a minority owner. Fast forward to 2025, and Walter has now acquired a controlling share of the Lakers after the Buss family decided to sell—a monumental shift in NBA ownership.
A Different Kind of Owner
Walter’s approach contrasts with the flamboyant styles of many modern sports owners. He rarely grants interviews, avoids the spotlight, and lets results speak for themselves. But his influence is undeniable.
“He’s a quiet force,” said one league executive. “He’s not here for the cameras—he’s here to win.”
And Walter does win. His leadership in the Dodgers’ resurgence and his financial empire’s growth reflect a pattern of meticulous strategy, long-term planning, and understated but powerful influence.
What’s Next for the Lakers?
