Earvin “Magic” Johnson Jr. is a retired basketball star, businessman, and philanthropist worth approximately five hundred million dollars.
Johnson began his basketball career in 1979 with the Los Angeles Lakers soon signing, what was then, the highest paying contract in sports history. Magic went on to win five NBA championships and is argued as one of the best point guards to play the game. . Johnson’s basketball achievements include three MVP awards and twelve All-Star Game appearances. He is near the top of many lists for all time great players of the game. While also making money on endorsement deals throughout his playing years, Johnson earned $18 million in regular salary from basketball.
In 1991 Johnson was diagnosed with HIV which forced him into an early retirement from the game. However, he made returns to basketball as a player for both the U.S. Olympic team and the Lakers. His honesty in announcing he had contracted the disease led to a greater awareness about HIV and has helped push research forward towards a cure.
Johnson has transformed his basketball wealth into a wide reaching busniness empire with an emphasis on bringing investment into urban communities. His investments have ranged from commercial and residential real estate to television programming. Johnson has had success in the past by partnering with large, name brand companies such as Starbucks and helping to expand their reach into minority and underserved markets. He has recently become a part owner of the Los Angeles Dodgers.
Magic Johnson Net Worth
So how much is Magic Johnson worth? It is estimated that his diversified portfolio has brought in excess of five hundred million.
Magic has been a noted philanthropist throughout his life. His Magic Johnson Foundation has committed to transform Urban America through HIV/AIDS awareness programs, Empowerment Centers, and scholarships.
Magic Johnson Earnings:
- Professional Basketball
- Yucaipa Johnson- Private Equity Fund
- Canyon Johnson – Real Estate Fund
- Apire- Television Network
- Investments in Best Buy, T.G.I.F. Restaurants, Starbucks, and Gyms
- Inner City Broadcasting Corp.
- Media Company – owns Vibe, Uptown, and Soul Train brands