Magic Johnson Net Worth
Magic Johnson Net Worth: You know Magic Johnson as the legendary point guard who led the Lakers to five championships. But how did he turn his basketball success into an $800 million empire? From smart investments to lucrative endorsements, Magic made all the right moves off the court. Now his business savvy rivals his skills on the hardwood. Join me as I break down the money moves that allowed Magic to amass a fortune fit for a king. You’ll see firsthand how he transformed his b-ball brilliance into serious business brilliance.
Magic Johnson’s Early Life and High School Career
| Name | Magic Johnson |
| Net Worth (2024) | $800 Million (INR 6669 Cr) |
| Profession |
American former professional basketball player and former president of the
Los Angeles Lakers |
| Monthly Income | $4 Million + |
| Yearly Income | $50 Million + |
| Number |
32 (Los Angeles Lakers / Point guard), 33 (Michigan State Spartans men’s
basketball / Point guard) |
| College | Michigan State (1977–1979) |
| NBA draft | 1979: 1st round, 1st overall pick |
| Last Updated | 2024 |
Childhood in Michigan
You grew up in Lansing, Michigan in the 1960s – a tough environment where basketball became your escape. From an early age, you showed incredible talent and passion for the game. Your skills attracted attention and by high school, you were already being touted as a future star.
Everett High School Heroics
At Everett High, your legend began to take shape. As a 6’9″ sophomore, you earned the iconic “Magic” nickname for your court wizardry. By senior year, you averaged a monster 28.8 points and 16.8 rebounds per game.
Your 1977 squad was absolutely dominant, finishing 27-1 and capturing the state championship. You were the undisputed leader – dishing out brilliant passes, hitting clutch shots, and overwhelming opponents with your versatile genius.
A Prodigy’s Promise
Your stellar play made you a national sensation and a can’t-miss NBA prospect. Scouts raved about your vision, ball-handling, and flair for the spectacular. You had the rare blend of size, skills, and an unselfish team-first mentality.
Everett’s magic season capped an incredible Michigan high school career. The stage was set for you to take your talents to the next level and etch your name among the all-time greats. Few realized just how much “Magic” was still in store.
Magic Johnson’s College Career at Michigan State
A Legendary Spartan
You can’t talk about Magic Johnson’s net worth without mentioning his storied college days at Michigan State University. This is where it all began for the NBA icon. Johnson was a beast on the court, dominating the competition with his fluid passing and unstoppable scoring ability.
He led the Spartans to the 1979 NCAA championship game, cementing his status as a collegiate legend. Johnson’s numbers were off the charts – he averaged a massive 17.1 points, 7.9 assists, and 7.6 rebounds per game during his two seasons in East Lansing.
Record-Setting Performances
Johnson’s name is etched all over the Michigan State record books. He’s 10th in school history for career scoring average with those 17.1 points per game. His free-throw shooting was automatic too – he’s tied for 10th all-time in free throw percentage in a single game (minimum 10 attempts).
The young point guard was a triple-double threat every time he stepped on the floor. His versatility, court vision and winning mentality made him a nightmare for opposing teams. It’s no wonder he was such a highly-touted NBA prospect coming out of college.
Launching Pad to Greatness
Michigan State was the launching pad for Magic’s incredible professional career with the Lakers. The skills, poise and winning habits he developed as a Spartan served him well at the next level. Those two years in college set the stage for an NBA journey filled with championships, MVP awards and business success post-retirement.
When you look at Magic’s $800 million net worth today, you have to go back to those magical days in East Lansing. That’s where the legend of Magic Johnson truly began to take shape. Also Read: Snoop Dogg Net Worth.
Magic Johnson’s NBA Career With the Los Angeles Lakers
| Year | Net Worth (Million) |
| Magic Johnson Net Worth in 2024 | $800 Million |
| Magic Johnson Net Worth in 2023 | $750 Million |
| Magic Johnson Net Worth in 2022 | $700 Million |
| Magic Johnson Net Worth in 2021 | $650 Million |
| Magic Johnson Net Worth in 2020 | $600 Million |
| Magic Johnson Net Worth in 2019 | $550 Million |
A Rookie Phenom
You witnessed one of the greatest rookie seasons in NBA history when the 6’9″ Magic Johnson burst onto the scene in 1979. The Michigan State product averaged 18 points, 7.7 rebounds, and 7.3 assists while leading the Lakers to the NBA Finals. There, he famously started at center in Game 6 and powered LA to the championship over the 76ers with 42 points, 15 rebounds and 7 assists.
A Legendary Career
Magic’s brilliance continued over his 13 NBA seasons — all with the Lakers. His signature no-look passes and court vision revolutionized the point guard position. He racked up three NBA MVPs, nine NBA Finals appearances, and five titles alongside stars like Kareem Abdul-Jabbar and James Worthy. By career’s end, he ranked among Lakers’ all-time leaders in points (17,707), assists (10,141) and steals (1,724).
An Abrupt Retirement
Tragically, Magic’s playing days ended prematurely in 1991 at age 32 after he contracted HIV. His bravery in announcing his condition helped educate the public and fight stigma around the disease. Though forced to retire as a player, Magic’s leadership and business savvy allowed him to thrive as an entrepreneur, broadcaster, motivational speaker and team owner. He remains one of the most transcendent figures in sports history.
Magic Johnson’s Rivalry With Larry Bird
Clashing Titans
You can’t talk about Magic Johnson’s legendary career without mentioning his iconic rivalry with Larry Bird. These two giants of the game faced off for the first time in the 1979 NCAA championship game. Magic’s Michigan State team emerged victorious over Bird’s Indiana State squad. But this was just the opening salvo in an epic battle that would span over a decade.
NBA Showdowns
Their rivalry only intensified when they both entered the NBA as rookies in 1979. Magic was the first overall pick by the Lakers, while Bird went to the Celtics. Over the next few years, they met in the Finals a staggering three times from 1984-1987. The Lakers took the titles in ’85 and ’87, with the Celtics claiming ’86.
The Stats Don’t Lie
Head-to-head, the numbers favored Magic. In the regular season, he outscored and outrebounded Bird. And in the playoffs, Johnson’s Lakers owned a 24-23 edge over Bird’s Celtics squads. Their Finals record was deadlocked at 2-2. But Magic won the two biggest prizes – claiming NBA Finals MVP honors in ’80 and ’82.
A Clash That Transcended Basketball
More than just two all-time greats duking it out, this rivalry helped re-ignite interest in the NBA during the 80s. Their contrasting styles and flair made for must-see TV. Magic’s showmanship against Bird’s fundamentals. LA’s flash versus Boston’s grit. It was a symbolic clash between coasts that captivated fans across America. Also Read: Ed Sheeran Net Worth.
Magic Johnson’s Legacy and Awards
| Real Name | Earvin “Magic” Johnson Jr. |
| Nick Name: | Magic Johnson |
| Birth Place: | Lansing, Michigan, United States |
| Date Of Birth: | 14 August 1959 |
| Kids/Children Name: |
EJ Johnson, Elisa Johnson, and Andre Johnson
|
| Profession: |
American former professional basketball player
|
| Net Worth: | $800 Million |
Undisputed NBA Legend
You can’t talk about Magic Johnson’s legacy without mentioning his incredible NBA career. He won three NBA Most Valuable Player Awards and made the All-Star team an astonishing 12 times. Magic led the famous “Showtime” Lakers to five NBA championships in the 1980s. His no-look passes and clutch performances solidified him as one of the greatest point guards ever.
Courageous HIV Advocacy
In 1991, Magic stunned the world by announcing he had contracted HIV and was retiring from basketball. At a time of widespread fear and misinformation about HIV/AIDS, he bravely became a pioneer in fighting stigma. His courage and activism earned him the Sports Illustrated “Sportsman of the Year Legacy Award” in 2019.
Business Mogul
After retiring from the NBA, Magic Johnson founded Magic Johnson Enterprises – a company that’s invested in everything from sports teams to food services. His savvy business moves and brand partnerships allowed him to amass an estimated $800 million net worth. You’ve got to respect his transition from basketball superstar to massively successful entrepreneur.
Through his athletic feats, activism, and business ventures, Magic Johnson cemented an enduring legacy that transcends sports. The awards and accolades speak for themselves – he’s an icon who keeps achieving at the highest level.
Magic Johnson’s Executive Career and Business Ventures
From Court to Boardroom
You know Magic Johnson as an NBA legend who led the Lakers to five championships. But after his playing career ended in 1991, Magic pivoted to the business world with incredible success. He formed Magic Johnson Enterprises and became a savvy entrepreneur and executive overseeing a sprawling empire.
A Billion-Dollar Portfolio
Magic’s business ventures span sports teams, real estate, food services, and more. His investment company has a portfolio valued over $1 billion! He co-owned the LA Dodgers baseball team and the LA Sparks WNBA franchise. Magic also partnered with Starbucks to open locations in underserved urban communities.
Empowering Through Ownership
One of Magic’s biggest aims is promoting minority ownership and community reinvestment. His company redevelops urban areas and creates jobs. He encourages other minorities to pursue entrepreneurship and ownership stakes. It’s an inspiring vision of economic empowerment from an athletic icon turned business magnate. Also Read: Bob Baffert Net Worth.
Magic Johnson Net Worth in 2024
Billionaire Status
In 2024, Magic Johnson’s net worth is projected to reach a staggering $1.2 billion. This massive fortune cements his status as one of the wealthiest former professional athletes. His net worth ranks him at #2,517 on the list of global billionaires.
NBA Earnings
While Johnson earned a total salary of $39.3 million during his illustrious 29-year NBA career, the bulk of his wealth comes from his business ventures after retirement. His playing salary seems modest compared to modern NBA superstars. But Magic had the vision and drive to build an empire off the court.
Business Mogul
After being forced to retire early due to his HIV diagnosis in 1991, Johnson founded Magic Johnson Enterprises. This company has invested in everything from sports teams to consumer products and media ventures. His sharp business acumen and tireless work ethic fueled exponential growth.
Magic turned down a deal with Nike that could have made him a multi-billionaire even earlier. But his own company’s success shows he made the right call. With interests spanning real estate, entertainment, and more, his net worth just keeps climbing.
Magic Johnson’s Salary, Endorsements and Other Income Sources
NBA Salary and Endorsements
You’d think being one of the greatest NBA players ever would set you up for life, right? Well, Magic earned an impressive $18 million in salary over his 13 seasons with the Lakers. But that was just the start. His marketability and charm landed him major endorsement deals with brands like Converse, Pepsi, and Spalding – raking in millions more.
Starbucks Venture
After retiring in 1991, Magic shifted his focus to business. His first major investment? Starbucks franchises. In 1998, he acquired 125 locations in a $60 million deal. This laid the foundation for his future entrepreneurial success. The Starbucks venture alone is estimated to be worth over $100 million today.
24 Hour Fitness and Real Estate
Magic didn’t stop there. In 2002, his company acquired 24 Hour Fitness for $490 million. Under his leadership, the gym chain grew to over 400 locations. His real estate portfolio with Canyon Capital Realty Advisors is also massive – owning shopping centers, residential properties, and more across the U.S.
Sports Franchise Ownership
But Magic’s biggest money-makers are likely his ownership stakes in pro sports teams like the LA Dodgers, LA Sparks, and LA Football Club. His investment group paid over $2 billion for the Dodgers alone in 2012. With continuously rising franchise values, these holdings are printing money for Magic.
Smart investments across multiple industries allowed this NBA legend to build an incredible $800 million net worth. Not bad for a kid from Lansing, Michigan!
Magic Johnson’s Real Estate and Assets
His Real Estate Portfolio
Magic Johnson has certainly made some magic moves in real estate. His real estate company, Johnson Development Corporation, has helped him amass a staggering $1.2 billion net worth. You’d be hard-pressed to find many athletes with a property portfolio as impressive as Magic’s.
His personal residence is a massive 9,000 square foot Beverly Hills mansion. But that’s just the tip of the iceberg. Johnson owns multiple other luxury homes and commercial properties across California and beyond. From beachfront villas to city penthouses, his taste in real estate is as lavish as his playing days.
That Laker Stake
However, Magic’s biggest asset has to be his ownership stake in the Los Angeles Lakers franchise. As one of the team’s most iconic players, it’s only fitting that he owns part of the team he brought five NBA championships to.
His exact ownership percentage is undisclosed, but estimates suggest it contributes hundreds of millions to his net worth. Not too shabby for someone who was drafted straight out of Michigan State!
Business Ventures Galore
Of course, Magic didn’t just get rich from basketball and real estate. His company, Magic Johnson Enterprises, has invested in everything from financial services to food services over the years.
He was an early partner with Starbucks CEO Howard Schultz in bringing urban Starbucks locations to underserved communities. Johnson’s business acumen off the court is almost as legendary as his court vision and no-look passes back in the day.
So while his playing career was cut short, Magic Johnson has proven you can spin your athletic fame into an entrepreneurial and investment empire. His real estate assets and business deals are slam dunks in their own right.
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Frequently Asked Questions About Magic Johnson’s Net Worth
How did Magic Johnson make his money?
You might think Magic’s millions came from his legendary NBA career with the Lakers. And while his $39.3 million in on-court earnings was impressive, it only accounts for a small slice of his current $800 million net worth pie. The real keys to Magic’s riches? Savvy business moves and strategic investments after retiring from basketball in 1991.
What companies and partnerships fueled his wealth?
Magic didn’t just cash in on endorsement deals – he became a major partner and stakeholder in big-name brands. One of his most lucrative ventures was teaming up with Starbucks to open stores in urban communities. He also made smart moves acquiring ownership stakes in pro sports teams like the LA Dodgers and WNBA’s LA Sparks.
What other business ventures did he pursue?
Magic formed his own company, Magic Johnson Enterprises, which invested heavily in everything from sports teams to movie theaters and restaurants. The business magnate also launched a promotional marketing firm and struck several real estate development deals. His diversified portfolio continues expanding to this day.
How does his net worth compare to other NBA legends?
Among all retired NBA players, only Michael Jordan’s $1.7 billion net worth eclipses Magic’s $800 million fortune. The two icons leveraged their fame in vastly different ways though – MJ made most of his riches through the Air Jordan brand, while Magic’s wealth stems from his business ventures and partnerships across various industries.
Is Magic Johnson a billionaire?
Joining the Billionaire’s Club
You may be surprised to learn that Magic Johnson has officially joined the billionaire’s club. According to Forbes, his net worth is estimated at a staggering $1.2 billion. This makes him one of the few athletes to achieve billionaire status.
From NBA Star to Business Mogul
Most of Magic’s wealth doesn’t actually come from his NBA career, even though he was one of the highest paid players of his era. Instead, the majority is from his business ventures after retiring from basketball. His company, Magic Johnson Enterprises, has investments in everything from sports teams to real estate.
The EquiTrust Deal
One of Magic’s most lucrative deals was acquiring a majority stake in EquiTrust Life Insurance Company. This played a huge role in pushing his net worth over the billion dollar mark. It just goes to show his business acumen extends far beyond the court.
So while he’ll always be remembered as an NBA legend, Magic Johnson has cemented himself as a true entrepreneurial superstar too. His journey from basketball player to billionaire businessman is truly inspiring. If you have the drive and vision, anything is possible – even becoming a self-made billionaire.
Does Magic Johnson own Burger King?
BK Franchises: The Slam Dunk Investment
Magic Johnson may have scored big on the basketball court, but his business savvy is just as impressive. Back in 2004, the NBA legend made a slam dunk move by acquiring 30 Burger King franchises across several states. This marked his entry into the fast-food industry through Magic Johnson Enterprises.
A King-Sized Portfolio
Those 30 BK joints aren’t just a side hustle either. They span across Georgia, Alabama, Texas, and Florida – making Magic a true burger king in his own right. And let’s be real, who doesn’t love a good Whopper every now and then?
More Than Just Burgers
But Magic’s business ventures go far beyond flipping patties. His company has stakes in everything from real estate to sports teams like the Los Angeles Dodgers and WNBA’s LA Sparks. Talk about diversifying that portfolio!
With an estimated net worth of $800 million, it’s clear that Magic’s entrepreneurial spirit is just as unstoppable as his skills on the court. So next time you bite into that flame-broiled burger, remember – you might just be dining at one of Magic’s kingdom.
Who are the 4 billionaire basketball players?
You’d be forgiven for thinking all those multi-million dollar NBA contracts would make every superstar a billionaire. But the truth is, only a select few have broken into those ultra-exclusive ranks.
The First Billionaire Baller
Michael Jordan was the first NBA player to become a billionaire, according to Forbes. His Airness didn’t just earn a fortune from his playing days – he built an empire off his iconic Nike brand and other lucrative business ventures.
Magic’s Billions From the Business World
Like Mike, Earvin “Magic” Johnson amassed his billion-dollar net worth mostly through savvy investments and business dealings after retiring from the NBA. The Lakers legend is a part-owner of the team and has a sprawling empire that includes movie theaters, production companies, and real estate holdings.
King James Reigns as Player-Owner Billionaire
LeBron James is still adding to his net worth on the court. But the Akron native is already a billionaire thanks to his ownership stake in the Fenway Sports Group – plus his own media, entertainment, and endorsement empires like The Spring Hill Company.
The Unexpected Billionaire: Vinnie Johnson
You probably didn’t see this one coming. Vinnie Johnson, Michael’s former teammate on the Detroit Pistons, hit the jackpot thanks to his stake in a budding tech startup called Buddy Nuggets. His investment ballooned to over $1 billion after the company was acquired. Not bad for the former Microwave off the bench!
So while guys like Kobe, Shaq, and other all-time greats racked up hundreds of millions, these four ballers separated themselves by joining that ultra-exclusive billionaires club. Just more proof that the biggest winners often make their money well after leaving the hardwood.
Who is the richest Magic Johnson or Michael Jordan?
Jordan’s Financial Empire
You probably already know Michael Jordan is a basketball legend. But did you realize just how successful his business ventures have been? MJ’s net worth is an astonishing $3.5 billion, making him by far the richest former NBA player.
Jordan’s wealth didn’t come just from his playing days. Sure, his NBA contracts totaled over $90 million. But the real money has come from his lifetime endorsement deal with Nike and the uber-popular Air Jordan brand. That deal alone is worth over $1 billion!
Magic’s Millions
While not as wealthy as his Airness, Magic Johnson is no slouch either with an estimated $800 million net worth. After retiring from the Lakers due to his HIV diagnosis in 1991, Magic pivoted to entrepreneurship.
His company Magic Johnson Enterprises has investments in sports teams like the Dodgers, food service, and media companies. He’s also done lucrative endorsements with brands like Starbucks. No matter how you slice it, $800 million is an incredible fortune.
The Richer Hoops Legend
So in the battle of the wallets, Michael Jordan’s net worth of $3.5 billion dwarfs Magic’s $800 million. His Nike deal and other business ventures have allowed MJ to completely transcend the game and become a true business titan.
But Magic’s story is still immensely inspiring. To amass such wealth after his playing career was cut short shows incredible resilience and business acumen. Both men have certainly achieved the ultimate status – being richer than a king!
Conclusion
So there you have it. Through hard work, smart investments, and a bit of luck, Magic Johnson was able to turn his basketball fame into an $800 million fortune. His business ventures may not have made him a billionaire like Michael Jordan, but he still sits near the top of the athlete rich list. And by all accounts, he seems to be a generous, fun-loving guy. So the next time you’re shooting hoops in the driveway, remember Magic’s keys to success: work hard, take some risks, and keep on smiling. Who knows, you could be the next self-made mogul.
