Walter was part of David Geffen's bid to buy the Los Angeles Clippers in 2014, when the team went for sale after former owner Donald Sterling was banned by the NBA for racist remarks. However, the team eventually went to Steve Balmer, who acquired the Clippers for $2 billion.

The billionaire slated to takeover the controlling interest in the Los Angeles Lakers has built a career leading businesses investing in everything from sports franchises to artificial intelligence.

Since 1979, the Los Angeles Lakers have been owned by the Buss Family. Under the Buss Family, Los Angeles has been transformed into one of the most successful organizations in sports. But on Wednesday,