An American retired professional basketball player, Magic Johnson has snagged three NBA MVP Awards, twelve All-Star games, and nine NBA Finals appearances. He became a two-time inductee into the Basketball Hall of Fame in the years 2002 and 2010. He was rated the greatest NBA point guard of all time in 2007 by ESPN. Johnson is well known as a motivational speaker and an advocate of HIV/AIDS prevention and safe sex. With all of that well-deserved attention and sheer hard work, Magic Johnson has a net worth of USD 650 million. His real-life experiences have given strength to millions and have provided value to life and humanity.
Magic Johnson Net Worth in 2020
|Net worth||USD 650 million|
|Full Name||Earvin “Magic” Johnson Jr.|
|Born||August 14, 1959|
|Birth Place||Lansing, Michigan|
|Source of Wealth||American Professional Basketball Player, Entrepreneur|
|Playing career||1979–1991, 1996|
|Height||6 ft 9 in (206 cm)|
|Weight||In kilograms: 98 kg; In pounds: 215 lbs|
Magic Johnson Properties
The multi-millionaire businessman Magic Johnson is currently living a luxurious lifestyle. He bought a house in Dana Point, Los Angeles which is of worth around USD 7.6 million. The property features seven bedrooms and 7.5 bathrooms. Another property is located in Beverly Hills.
Magic Johnson has teamed up with a Century City investment fund to form Canyon-Johnson Urban Funds to develops properties that include condominiums in Oakland, redevelopment of a previous rail yard in Boston, a retail and residential complex in Chicago, and the USD 28 million One Santa Fe residential, retail complex, and office in downtown Los Angeles.
Magic Johnson Cars
Magic Johnson has an expensive car collection standing in his parking of different brands, such as BMW comes with a price tag of USD 51,250 and Ferrari with an average price of USD 252,800. Other expensive assets include H2 Hummer of worth USD 59,880 and GMC Truck of value 33,500.
What Contributed To Magic Johnson Net Worth?
With an outstanding net worth of USD 650 million Magic Johnson has made hefty dollars throughout his investments and business ventures. He walked away with his basketball career with only USD 18 million approximately as that time NBA players were not handsomely paid as compared to today’s generation NBA players.
According to reports, Johnson also earns from his Instagram account around USD 3,601.5 to USD 6,002.5 per sponsored post.
Magic Johnson Endorsements List
Dwyane Wade’ from endorsement deals has a lot contributed to his bank balance. He publicly endorsed Phil Angelides, Barbara Clinton, Hillary Clinton, Barack Obama, and Wendy Greuel in their campaign which also includes other lucrative agreements.
According to some sources, the charges around USD 2 million to USD 15 million per brand endorsements deals. Till date, he has endorsed brands like Converse which added USD 2 million and Campofrio USD 3 million and many more to his net worth.
Business Ventures and Investments
With an astounding net worth of USD 650 million even after retirement is enough to showcase how much the Magic Johnson was interested in business ventures and investments. This made him the most successful athletes after retirement and is now ranked as one of the wealthiest African Americans today. His portfolio includes 13 24-Hour Fitness chains and 31 Burger Kings in the Southeast. Check the details below:
- Johnson invested in the companies providing services to under-served markets and urban real estate in the U.S through his Canyon-Johnson and Yucaipa-Johnson funds.
- He formed partnerships with Starbucks (previously owned over 105 outlets), 24 Hour Fitness, T.G.I. Fridays, and AMC Theaters.
- In 1994, Johnson purchased a 4.5 per cent stake in the LA Lakers for USD 10 million of whose value raised up to USD 50 million by 2010. Later on, he sold it and made 5 times profit.
- After few days of selling the stake in LA Lakers, Magic then sold 50 per cent share in Starbucks which added USD 100 million in his bank balance from both the deals.
- Involved in the business of insurance (himself owns an insurance company), theatres, restaurants, and healthcare, football as well as baseball teams.
- Johnson has also created a pre-paid MasterCard named as “the Magic Card” that help low-income people to how to save money and participate in electronic commerce.
Magic Johnson is a great businessman not only on-field but also personally. He is patient, dress up professionally and always carry an effervescent smile on his face which is quite attractive.
Magic Johnson Enterprises
Magic Johnson ventured into entrepreneurship after formally retired from professional basketball in the year 1996. He launched a business empire and named it as “Magic Johnson Enterprises” and is now valued over USD 1 billion.
The Magic Johnson Enterprises includes a movie studio, Magic Johnson Theaters and a promotional marketing company. Over the years, Magic Johnson Enterprises has continually invested ownership in many lucrative businesses such as restaurants in the United States, the Los Angeles Lakers, movie theatres and Burger King Locations.
Product Lines in Magic Johnson Enterprises:
- Clear Health Alliance which provides healthcare to HIV/AIDS patients
- Magic Johnson Bridgescape Academies which helps high school dropouts to get diplomas
- ASPiRE, a TV network
Foundations and Charity Work
Magic Johnson got retirement from basketball career after knowing about his HIV diagnosis in the year 1991. It became a major news story in the United States and many articles praised him as a hero. U.S. President George H. W. Bush said for him Magic Johnson is a hero and is a hero for anyone who loves sports.
Magic then launched a foundation under his name “Magic Johnson Foundation” which has helped the society in the following terms:-
- support HIV/AIDS research efforts
- give love and care to people who are affected by HIV & AIDS
Johnson stated that his aim was to teach others not to “discriminate against people who have HIV and AIDS” and it’s very important to educate all people about what HIV is about.
Magic Johnson has actively participated in many campaigns and has supported various charitable organizations such as:
- Boys & Girls Club of America,
- Keep a Child Alive,
- Celebrity Fight Night Foundation,
- Barbara Davis Center for Childhood Diabetes
- The Miami Project
- Buoniconti Fund To Cure Paralysis
- Charity Folks
- Ludacris Foundation of Ludacris
- Muhammad Ali Parkinson Center
These past two days have been two of the best days of my life giving out thousands of turkeys to some great families that deserve to have a Happy Thanksgiving yesterday in Tampa, Florida and today in Miami. pic.twitter.com/wR6c7QyTXg
— Earvin Magic Johnson (@MagicJohnson) November 23, 2019
Early Life and Career
Magic Johnson was born in Lansing, Michigan on August 14, 1959, to Earvin Sr. and Christine. He did his schooling from Everett and graduated from Michigan State in 1979.
He joined the basketball team in high school where he scored a triple-double, 36 points, 16 assists, and 18 rebounds.
Magic Johnson’s basketball career has spanned over 13 years from 1979 to 1991, and later another year during 1996. He has played for only one team in the NBA and that is Los Angeles Lakers. His contribution helped the Lakers to win 5 championship titles in 1980, 1982, 1985, 1987 and 1988.
Later in 1992, Johnson got enrolled in the US basketball team titled “The Dream Team” for the Summer Olympics Magic which bagging a gold medal with a record 8-0.
The American basketball player has numerous records in his name. He won 3 NBA MVP awards, NBA assists leader 4 times, NBA steals leader 2 times as well as 1-time NBA free-throw percentage leader.
Magic Johnson Personal Life
The NBA star Magic Johnson has been married to Cookie Johnson since 1991 and has one son EJ Johnson who is a gay and a star on the reality show Rich Kids of Beverly Hills. The couple adopted a daughter in 1995 and named her Elisa. Magic has a son Andre Johnson from his relationship with Melissa Mitchell, who was born in 1981 and worked as a marketing director in Magic Johnson Enterprises. Andrew was raised by his mother and use to visit Johnson each summer.
Magic Johnson Social Accounts
Magic Johnson Social Accounts