NBA Legend Magic Johnson Enters Elite Club of Billionaires

By: Fatima Roshni Image credit: Getty Images

One of the eminent NBA personalities, former star player Magic Johnson, with a 13-season career as part of the Lakers franchise, held prominence as one of the greatest point guards in the league.

In respect to his career achievements of 5 championship wins, 3 Finals MVPs, 3 MVPs, 12 All-Star appearances, and more, the 905 NBA games legacy of Mr. Johnson is quite interesting to look upon.

From his career to businesses, Johnson, with an estimated $2.1 million of net worth, joins other popular NBA athletes including Michael Jordan and LeBron James, in the billionaires list.

As stated by Forbes, Johnson's billions of earnings hold much prominence to his business ventures, including ownership, besides his endorsements as well as the earnings of his professional NBA career.

As for his endorsement deal as part of his professional career, Johnson, after rejecting a lucrative deal from Nike said to be $5 billion, partnered with Converse, earning $100,000 per year.

In his recent appearance on All The Smoke podcast, Johnson stated, "My family didn't come from money; that's one thing that hurts us sometimes. When you don't come from money, you don't know."

Stating on the deal's relevance today, "I didn't even know what stocks [were] at that time. So, I passed on the stocks. Can you imagine? 45 years, $5 billion that stock would have been worth today."

Johnson's investments with major brands including Starbucks, Burger King, 24 Hour Fitness, and the life insurance company EquiTrust hold a majority partnership that is worth over $14.5 billion.

Magic Johnson Enterprises, an investment company owned by the Hall of Famer, controls several subsidiaries including Magic Johnson Productions, Theatres, and Entertainment, worth $700 million.

The former NBA legend, however, has made a recent investment as part of the ownership of an NFL team, the Washington Commanders, alongside Josh Harris and others, investing around $240 million.

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