How much is Magic Johnson worth?

How Magic Johnson Accumulated a Net Worth of $650 Million

How much is Magic Johnson worth?

As of January 2019, retired American professional basketball legend Earvin “Magic” Johnson Jr. has a projected net worth of $600 million.

This astounding figure is enough to rank him as one of the most successful athletes after retirement and one of the wealthiest African Americans today.

How did he do it? After discovering he had contracted HIV, Johnson ventured into entrepreneurship and introduced popular brands to ethnically diverse neighborhoods through Magic Johnson Enterprises.

He formed partnerships with Starbucks (before it was cool), AMC Theaters, T.G.I. Fridays, and 24 Hour Fitness. In addition, he invested in urban real estate as well as companies providing services to under-served markets in the U.

S through his Yucaipa-Johnson and Canyon-Johnson funds. He has awarded at least $1.1 million to community-based organizations focusing on HIV/AIDS awareness and prevention.

Inspiring, right? Here is the full story of exactly how Magic Johnson accumulated a net worth of over $600 million.

Net Worth$600 Million
NameEarvin “Magic” Johnson Jr.
Age60
BornLansing, Michigan
Birth DateAugust 14, 1959
Source of WealthBasketball Player, Entrepreneur
CountryUnited States

Basketball Career

Born in August, 1959 in Lansing, Michigan, Earvin “Magic” Johnson always had a natural admiration for basketball from a tender age. Even before he joined high school (Everett High School), he had already resolved to play basketball as his career.

Although the school was predominantly white and featured certain instances of racism, he was still able to perform well and graduate successfully in 1977. By this time, Magic Johnson was in high demand by some reputable and competitive universities.

He would later join Michigan State University, where he led his team to a tournament championship during the 1978-’79 season.

Throughout his impressive performances both in high school and college, someone was watching closely: the Los Angeles Lakers. Soon, he was drafted to the first overall pick by the LA Lakers in 1979.

His skills and ability to distribute the ball with impeccable speed resulted in his moniker: “Magic” Johnson. He used these skills to drive the team to the 980 NBA Finals in his rookie year, which they went on to eventually win.

Within just two years, he had won both the NBA and NCAA championship, subsequently becoming one of the most popular and highly-valued players in the league.

To prove that he was not just a “one season wonder,” Magic Johnson would go on to win 5 more NBA championships over the next few decades, in addition to numerous other awards and accolades.

Unfortunately, as he increased in age, his performance started to decline in subsequent years. In 1991, he made a public announcement of his HIV status and his wish to retire from the sport as a result.

Since then, he has resolved to more recreational basketball and coaching and is a well-known philanthropist.

Magic Johnson Enterprises

Magic Johnson formally retired from professional basketball in 1996. This marked the beginning of his next chapter in life: entrepreneurship. Back then, NBA players were not as highly paid as they are now.

Despite the fact that Magic Johnson had 5 NBA championships and at least 10,000 career assists in his record, he only walked away with approximately $18 million from the NBA and a few extra millions from endorsements. The first thing he did was to buy a 4.

5 percent stake in the LA Lakers for $10 million, which turned out to be a lucrative investment in the long run. By 2010, his stake had risen in value to $50 million, so he sold it and started Magic Johnson Enterprises.

Through Magic Johnson Enterprises, the basketball legend progressed to make even more profitable investments. In 1998, he had also partnered with Starbucks to avail the coffee chain in economically-disadvantaged neighborhoods.

You only have to look at the success of Starbucks today to realize the wisdom of that investment.

A few days after selling his stake in Lakers, Magic also sold his 50 percent share in Starbucks, bringing his total revenue from the two deals to a reported $100 million.

Under the same Magic Johnson Enterprises umbrella, Johnson also invested in Magic Johnson Theaters. He used the same principle as before, putting up theaters in less-fortunate neighborhoods.

Of course, this turned out to be a massive success as well.

But perhaps his most significant investment was in the Los Angeles Dodgers, which also involved a number of partners to purchase in 2012 for a whooping $2 billion.

Magic Johnson also teamed up with a Century City investment fund – Canyon Capital Realty Advisors – to form Canyon-Johnson Urban Funds that develops properties in under-served urban neighborhoods.

Some of the projects under the funds include condominiums in Oakland, a retail and residential complex in Chicago, redevelopment of a previous rail yard in Boston, and the $28 million One Santa Fe residential, office, and retail complex in downtown Los Angeles.

Johnson plays a major role in presenting proposals to neighborhood residents and public officials. Despite his retirement from NBA in 1996, the tall Magic Johnson is still highly influential.

He dresses professionally, smiles easily, and is very patient. He prefers being called by his first name – Earvin – instead of his moniker while conducting business.

Richard Riordan, former mayor of Los Angeles, commended Johnson’s financiers for teaming up with the former athlete in the Dodgers deal, citing his influence in both the game and industry.

He also added that his star power would help efforts to revive the Dodgers brand.

Current Life

Owing to the massive wealth he has accumulated for himself from his successful basketball career and business endeavors, Magic Johnson lives a pretty comfortable lifestyle.

His net worth has allowed him to own luxury homes in different areas of California that are valued at tens of millions of dollars.

Additionally, he owns a fleet of luxury cars such as Ferrari, BMW, and so on, as well as a private jet.

He is involved in a lot of charity work and has founded his own philanthropic foundation called Magic Johnson Foundation that deals primarily with HIV/AIDS awareness and helping its victims.

His own infection resulted from being physically involved with numerous women. He has a son with Melissa Mitchell, who grew up with his mother but under great care of his father as well.

He also has a son and an adopted daughter with his wife, Earlitha Kelly, with whom he wedded in 1991 in a private wedding.

10 Awesome Magic Johnson Quotes on Success

  1. You don’t have to be Magic to be special. You’re already special, you’re you
  2. Ask not what your teammates can do for you. Ask what you can do for your teammates.
  3. You’re the only one who can make the difference. Whatever your dream is, go for it.
  4. I’m a big believer in dreaming. If you don’t dream it, you can’t become it.
  5. I’m at peace with myself. The main thing is not letting people dictate what I do or what I am.
  6. When you are a successful business person, you are only as good as your team. No one can do every deal alone.
  7. I never think that there’s something I can’t do, whether it’s beating my opponent one on one or practicing another hour because something about my game is just not right.
  8. To me, everything is wonderful. Life is wonderful.
  9. Life doesn’t stop because something happens to you.
  10. Just celebrate the life you had, not the life you could’ve had.

Источник: https://moneyinc.com/magic-johnson-accumulated-net-worth-500m/

Magic Johnson Net Worth

How much is Magic Johnson worth?

Earvin “Magic” Johnson Jr. is an American retired professional basketball player and former president of the Los Angeles Lakers of the NBA. He played point guard for the Lakers for 13 seasons. After winning championships in high school and college, Johnson was selected first overall in the 1979 NBA draft by the Lakers.

As of 2021, Magic Johnson’s net worth is approximately $600 million, and he’s one of the richest athletes in the world.

Early Life

Earvin Johnson Jr. was born on the 14th of August, 1959, in Lansing, Michigan. Johnson is the son of Earvin Sr. and Christine Johnson. 

His mother spent many hours after work each night cleaning their home and preparing the next day’s meals, while his father did janitorial work at a used car lot and collected garbage, all while never missing a day at General Motors. 

Career 

Johnson was drafted first overall by the Los Angeles Lakers in 1979. He ended up signing a  25-year $25-million contract with the Lakers. Johnson performed exceedingly well in the 1981–82 season and averaged 18.6 points, 9.6 rebounds, 9.5 assists, and a league-high 2.7 steals per game. 

He averaged 18.3 points, 12.6 assists, and 6.2 rebounds per game in the 1984–85 regular season and led the Lakers into the 1985 NBA Finals. 

His great form continued over the next few years and he scored 22.5 points, 12.8 assists, and 7.9 rebounds per game in the 1988–89 NBA season. 

An incident in 1991 changed his life forever; he was diagnosed with HIV infection. He publicly announced his diagnosis and decided to retire. In spite of his retirement, he was chosen to compete in the 1992 Summer Olympics for the US basketball team. 

He made a comeback as a player by re-joining the Lakers during the 1995–96 NBA season. In February, he scored 15 points, along with 10 rebounds and 13 assists in a victory against the Atlanta Hawks. He averaged 14.6 points, 6.9 assists, and 5.7 rebounds per game in 32 games in the season. He then retired for good following the season.

As of 2021, Magic Johnson’s net worth is $600 million. 

Highlights

Here are some of the best highlights of Magic Johnson’s career:

  • He won a championship and an NBA Finals Most Valuable Player Award
  • Johnson became a two-time inductee into the Basketball Hall of Fame

Favorite Quotes from Magic Johnson 

“Everyone thought I was going to die a year later, they didn’t know. So I helped educate sports, and then the world, that a man living with HIV can play basketball. He’s not going to give it to anybody by playing basketball.” – Magic Johnson

“Being able to touch so many people through my businesses and make money while doing it, is a huge blessing.” – Magic Johnson

“As an athlete, I understood the value of my health insurance. I knew that in my profession, injuries were common and could happen at any time.” – Magic Johnson

“Any guy who can maintain a positive attitude without much playing time certainly earns my respect.” – Magic Johnson

“I really want people to know that I’ve worked hard, very hard, to get to where I am today.. this didn’t just happen overnight. I started in business over 25 years ago and have found a way to build on what I’ve learned through every partnership and opportunity.” – Magic Johnson

“I tell people to look at me and understand that everybody first told me that I couldn’t be a 6-foot, 9-inch point guard, and I proved them wrong. Then they told me I couldn’t be a businessman and make money in urban America, and I proved them wrong. And they thought I couldn’t win all these championships, and I proved them wrong there as well.” – Magic Johnson 

3 Life Lessons from Magic Johnson 

Now that you know all about Magic Johnson’s net worth, and how he achieved success; let’s take a look at some of the best lessons we can learn from him: 

1. Make Some Time for Yourself 

If you don’t make the time for yourself to get inspired, no one around you will ever be inspired.

2. Have Discipline 

Have the discipline to clean out all the energy-draining people in your life. You really do rise or fall to the level of your associations.

3. Limits

Doing huge dreams we have never done can be frightening. Yet when we push to the edges of our limits, our limits expand.

Summary

Magic Johnson is a retired American professional basketball player, counted among the greatest basketball players of all time. Johnson is famous for his powerful arms, agility, and speed that helped him become one of the most formidable players in the world during the 1980s. 

As of 2021, Magic Johnson’s net worth is estimated to be $600 million. 

What do you think about Magic Johnson’s net worth? Leave a comment below

Источник: https://wealthygorilla.com/magic-johnson-net-worth/

Magic Johnson [2021 Update]: Early Life, Net Worth, Stats & Rings

How much is Magic Johnson worth?

Earvin “Magic” Johnson Jr. is an American former professional basketball player and president of the Los Angeles Lakers of the National Basketball Association (NBA).

He was one of the best point guards of all time and is also considered as one of the greatest basketball players in the history of the NBA. 

wise, his career achievements consist of three NBA MVP Awards, nine NBA Finals appearances, twelve All-Star games, and ten All-NBA First and Second Team nominations.

Magic Johnson Smiling

With so much going on and so much to look forward to, why did he abruptly retire from basketball?

Before we go into details, here are some quick facts below.

Quick Facts

Full NameEarvin Johnson Jr.
Birth Date14 August 1959
Birth PlaceLansing, Michigan, U.S.
Zodiac SignLeo
Nick NameMagic Johnson, Buck, E.J.

, the Deejay, Tragic

ReligionChristianity
NationalityAmerican
EthnicityAfrican American
Father’s NameEarvin Johnson Sr.

Mother’s NameChristine Johnson
Siblings6 siblings and 3 half-siblings
EducationEverett High School; Michigan State University
Age61 years old
Height6 ft. 9 in.

(or 206 cm)

Weight220 pounds (or 100 kg)
Body BuildMuscular
Hair ColourNone
Eye ColourBrown
MarriedYes
SpouseEarlitha “Cookie” Kelly
ChildrenAndre Johnson (from the previous partner), Earvin III Johnson, Elisa Johnson (Adopted)
ProfessionRetired Basketball Player; Former Coach
Position in teamPoint Guard, Power Forward, and Shooting Guard
ShootsRight
Jersey Number#32
AffiliationsLos Angeles Lakers
Net Worth$630 million
Social Media: @MagicJohnson

Instagram: @magicjohnson

MerchFunko POP, Jersey
Last Update2021

Where is Magic Johnson from? Early Childhood and Education

Magic was born on 14 August 1959 in Lansing, Michigan, U.S. He is the son of Earvin Sr., who was a General Motors assembly worker, and Christine Johnson, who was a school janitor. He has six siblings and three half-siblings, all of whose name is unknown.

His parents would work day and night to provide for their children; it is said to have influenced Magic’s work ethic. He also came from an athletic family as both his parents used to play basketball when they were in high school. Magic’s nationality is American, and his ethnicity is African American. He follows Christianity.

Magic Johnson on the Court.

When transferring to a high school, Magic was hoping to be enrolled at Sexton High School, but he was sent to Everett High School, which was predominantly white. Because of it, he had to face quite a lot of incidents of racism. He quotes in his autobiography, My Life:

“As I look back on it today, I see the whole picture very differently. It’s true that I hated missing out on Sexton. After the few months, I was miserable at Everett. But being bused to Everett turned out to be one of the best things that ever happened to me. It got me my own little world and taught me how to understand white people, how to communicate and deal with them.”

Magic was nicknamed as Magic as a 15-year-old sophomore when he recorded a triple-double of 36 points, 18 rebounds, 16 assists when playing for Everett High School.

Many top-ranked colleges recruited him, but he decided to play close to home. Because he could play the point guard position, he chose Michigan State University. He graduated with a communication studies major.

How tall is Magic Johnson | Age, Height, and Physical Appearance

Magic is 61 years old, and since he was born on 14 August, his zodiac sign is Leo. And from what we know people of this sign are known for being talented, focused and goal-oriented among other signs.

Moreover, Magic stands 6 feet and 9 inches tall (or 206 cm) (tallest point guard in league history) and weighs about 220 pounds (or 100 kg). His brown eyes compliment his smooth skin, not to mention his muscular body structure. 

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Magic Johnson | Career

After thirteen years of playing professional basketball, Magic has accomplished a lot throughout his career. Here is his career in detail.

High School Career

In his final senior high school season, he led Everett to a 27-1 win-loss record and averaged 28.8 points and 16.8 rebounds per game. He took his team to an overtime victory in the state championship game.

Overall, he had two All-State selections, was named the best high school player ever of Michigan and the 1977 McDonald’s All-American team.

Where did magic johnson go to college? College Career

During his freshman year, Magic averaged 17.0 points, 7.9  rebounds, and 7.4 assists per game. He led the Spartans (Michigan State basketball team) to a 25-5 record, the Big Ten Conference title, and a berth in the 1978 NCAA Tournament.

During his second year, Spartans defeated Indiana State 75-64 (team led by future Boston Celtics star Larry Bird), and he was voted Most Outstanding Player of the Final Four. Overall, throughout his college life, he averaged 17.1 points, 7.6 rebounds, and 7.9 assists per game.

Rookie Season

Magic was selected first overall in the 1979 NBA draft by the Los Angeles Lakers. In his first season, he averaged 18.0 points, 7.7 rebounds, 7,3 assists per game, was selected to the NBA All-Rookie Team and was named an NBA All-Star Game starter.

He was the only rookie to win the NBA Finals MVP award and became one of four players to win NCAA and NBA championships consecutively.

1980-1982

Early on in the 1980-1981 season, he suffered torn cartilage in his left knee and had to miss 45 games. Overall in the season, he averaged 18.6 points, 9.6 rebounds, 9.5 assists, and a league-high 2.7 steals per game and was voted a member of the All-NBA Second Team.

During the championship series against the Sixers, he averaged 16.2 points on .533 shooting, 10.8 rebounds, 8.0 assists, and 2.5 steals per game.

He averaged 16.8 points, 10.5 assists, and 8.6 rebounds per game during the 1982–83 NBA season and received his first All-NBA First Team nomination. Lakers lost to the Sixers that season, and he averaged 19.0 points on .403 shooting, 12.5 assists, and 7.8 rebounds per game.

1983-1987

Magic’s fifth season, he averaged a double-double of 17.6 points and 13.1 assists, as well as 7.3 rebounds per game. He averaged 18.0 points on .560 shooting, 13.6 assists, and 7.7 rebounds per game during the NBA finals.

Here, the Lakers reached the Finals for the third time in a row but lost to the Boston Celtics. Johnson scored 18.3 points, 12.6 assists, and 6.2 rebounds per game in the 1984-85 regular season and led the Lakers into the 1985 NBA Finals, where they again faced the Celtics.

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This time, the Lakers won, and Magic averaged 18.3 points on .494 shooting, 14.0 assists, and 6.8 rebounds per game in the championship series.

Johnson scored a career-high of 23.9 points in the following season, as well as 12.2 assists and 6.3 rebounds per game, and won his first MVP award in the regular season. In the NBA Finals, the Lakers met the Celtics for the third time. The Lakers won the game 107-106.

Magic Dribbling a Basketball

1987-1991

In 1988, the Lakers won their fifth and final NBA championship of Magic’s career, and he averaged 21.1 points on .550 shooting, 13.0 assists, and 5.7 rebounds per game.

In the 1989-90 season, he averaged 22.3 points, 11.5 assists, and 6.6 rebounds per game. During the last championship series of his career in 1991, he averaged 18.6 points on .431 shooting, 12.4 assists, and 8.0 rebounds per game.

Dream Team

In the Barcelona 1992 Summer Olympics, Magic, including Michael Jordan, Charles Barkley, and Larry Bird, was chosen to compete for the US basketball team. This team was dubbed as the “Dream Team.” The team won the gold medal with an 8-0 record. Magic averaged 8.0 points per game during the Olympics, and his 5.5 assists per game were second on the team.

Post Basketball

Magic came back to the NBA as coach of the Lakers near the end of the 1993-94 NBA season. He has written a book on safe sex, runs several businesses, and worked for NBC as a commentator. He has hosted a number of charity events. 

Magic Johnson | Net Worth

Magic owns a conglomerate company and is involved in various business endeavors. 

As of 2020, Magic Johnson’s net worth is approximately $600 million, making him one of the richest athletes in the world.

How many kids do Magic Johnson have? Personal Life

In 1981, Magic had a son, Andre Johnson, from his previous partner Melissa Mitchell. Although his mother raised Andre, he is still close with his father and was later a marketing director at Magic Johnson Enterprises.

In 1991, Magic married Earlitha “Cookie” Kelly. They have a son Earvin III (EJ), who was born in 1992, and an adopted daughter Elisa in 1995. He lives in Beverly Hills and has a vacation home in Dana Point, California.

He has written an autobiography called My Life.

HIV Announcement

Before the 1991-92 NBA season, Magic found out that he had HIV. HE made the knowledge public on 7 November 1991 and made a statement that he would retire immediately. He also stated that his wife Cookie and their unborn son (EJ) did not have HIV.

Social Media Presence

account: 5 million followers

Instagram account: 2.5 million followers

Why did Magic Johnson retire?

Magic Johnson announced that he had HIV and would be retiring from the NBA immediately.

Does Magic Johnson still own Starbucks?

While Magic owned Starbucks stores, he sold his 105 Starbucks franchises back to the company in 2010.

How did magic johnson get HIV?

Magic Johnson acknowledged that he got HIV through having numerous sexual partners during his playing career.

What businesses does Magic Johnson own?

Magic Johnson owns Magic Johnson Enterprises. His company invests in theatres, real estate, health clubs and even a promotional marketing company.

How many rings does Magic Johnson have?

Magic Johnson had won five NBA championship rings with Los Angeles Lakers in 1980, 1982, 1985, 1987 and 1988.

Is Magic Johnson a billionaire?

As of 2020, Magic Johnson’s net worth is approximately $600 million.

Источник: https://playersbio.com/magic-johnson/

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