Magic Johnson Net Worth ( Update 2023)

Magic Johnson Net Worth is estimated to be around $622 million according to various sources. He has earned his wealth through his successful career as a professional basketball player, entrepreneur, and philanthropist. Johnson played for the Los Angeles Lakers for 13 seasons, winning five NBA championships and three Most Valuable Player (MVP) awards. After retiring from basketball, he went on to become a successful entrepreneur, owning various businesses such as Magic Johnson Enterprises, which focuses on promoting and supporting minority-owned businesses.

Overview

Birth name Earvin Johnson Jr.
Nickname Magic
Age 63
Date of Birth 14 August 1959
Place of Birth Lansing, Michigan, U.S.
Nationality American
Profession Chairman and CEO of Magic Johnson Enterprises and entrepreneur
Son Andre Johnson
Wife Cookie Johnson
Zodiac sign Leo
Net Worth $622 million
Daughters Earvin Johnson III / EJ Johnson and Elisa Johnson
Mother Tongue English
Religion Christianity
Father Earvin Johnson Sr.
Mother Christine Johnson
Siblings Larry and Michael Johnson, Pearl, Quincy, Evelyn, Kim, Lois, Yvonne, and Mary Johnson

Magic Johnson Career

Magic Johnson had a highly successful and influential career, primarily in the realm of professional basketball. Here are the key highlights and milestones of his career:

College Career: Magic Johnson played college basketball for Michigan State University from 1977 to 1979. In his sophomore season, he led the Spartans to the NCAA Championship, earning the Most Outstanding Player award for his performance.

NBA Career: Magic Johnson was selected by the Los Angeles Lakers as the first overall pick in the 1979 NBA Draft. His arrival in the NBA coincided with a revival of the Lakers’ fortunes. Johnson played primarily as a point guard and quickly made an impact with his exceptional passing, court vision, and versatility.

Showtime Lakers Era: Magic Johnson became an integral part of the Los Angeles Lakers “Showtime” era, which dominated the NBA during the 1980s. With teammates like Kareem Abdul-Jabbar and James Worthy, Johnson led the Lakers to multiple NBA Championships. He helped redefine the point guard position with his fast-paced, flashy style of play.

NBA Championships: Over the course of his career, Magic Johnson won five NBA Championships with the Lakers. The titles came in 1980, 1982, 1985, 1987, and 1988. Johnson played a pivotal role in these championship runs, often delivering clutch performances in key moments.

Individual Achievements: Magic Johnson accumulated numerous accolades and individual achievements throughout his career. He was a 12-time NBA All-Star, won three NBA Most Valuable Player (MVP) awards (1987, 1989, 1990), and earned nine All-NBA First Team selections. Johnson’s exceptional playmaking skills and leadership on the court earned him a place among the greatest players in NBA history.

Retirement and Comeback: In 1991, Johnson announced his retirement from basketball after being diagnosed with HIV. However, he made a brief comeback during the 1995-1996 season, playing 32 games for the Lakers and showcasing his enduring skills.

Post-Basketball Career: Following his retirement, Magic Johnson ventured into various business and entrepreneurial ventures. He has become a successful businessman, owning stakes in numerous companies and being actively involved in urban development projects. He has also worked as a television commentator and analyst, sharing his insights and expertise on the game.

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Magic Johnson’s Salary and Income

Magic Johnson is a former professional basketball player, entrepreneur, and sports executive. While I don’t have access to Magic Johnson’s current financial details, here are some key aspects of his income and earnings during his career:

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NBA Salary: As a highly successful basketball player, Magic Johnson earned significant salaries during his time in the NBA. He played for the Los Angeles Lakers from 1979 to 1991 and again in 1996. During his career, he signed multiple contracts that included substantial salaries. However, it’s important to note that specific salary details for each season may vary.

Business Ventures: Magic Johnson has been involved in various business ventures that have contributed to his income. He is known for his entrepreneurship and has invested in multiple sectors, including real estate, restaurants, movie theaters, and other business ventures. His success as a businessman has helped diversify his sources of income.

Endorsements and Sponsorships: Magic Johnson has been a highly marketable figure throughout his career. He has secured numerous endorsements and sponsorship deals with prominent brands, which have provided additional income. These endorsements range from sportswear companies to financial institutions and other consumer brands.

Broadcasting and Analysis: Following his retirement from playing basketball, Magic Johnson transitioned into broadcasting and analysis. He has served as a television commentator and analyst for NBA games, including working with ESPN and TNT. Such roles have likely provided him with income in the form of salaries and contracts.

Sports Ownership: Magic Johnson has been involved in sports ownership, particularly with the Los Angeles Dodgers baseball team. He was a part-owner of the team, which he later sold his stake in for a significant profit. Ownership in sports franchises can be a lucrative investment and a source of income.

Magic Johnson Car Collection

Magic Johnson car collection
Magic Johnson car collection

Rolls-Royce Phantom: Magic Johnson has been seen driving a Rolls-Royce Phantom, which is known for its luxurious features, elegant design, and high-end craftsmanship.

Mercedes-Benz S-Class: Johnson has been spotted with various models from the Mercedes-Benz S-Class lineup, known for their comfort, advanced technology, and performance.

Range Rover: Magic Johnson has been seen driving a Range Rover, a luxury SUV that offers a combination of off-road capability and upscale amenities.

Bentley Continental GT: Johnson has been seen in a Bentley Continental GT, a grand touring car that combines luxury, power, and refinement.

Cadillac Escalade: As a prominent figure in the basketball world, Magic Johnson has had associations with Cadillac and has been seen driving a Cadillac Escalade, a large luxury SUV known for its spaciousness and upscale features.

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Magic Johnson Real Estate

Magic Johnson house tour
Magic Johnson house tour

Magic Johnson has made significant investments in real estate throughout his career, leveraging his wealth and business acumen. While specific details about his real estate holdings may not be publicly available, here are some notable aspects of Magic Johnson’s real estate ventures:

Urban Redevelopment: Magic Johnson has been involved in urban redevelopment projects, particularly in underserved communities. He has focused on revitalizing urban areas by investing in commercial and residential properties, aiming to create economic opportunities and improve living conditions.

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Commercial Properties: Johnson has invested in various commercial properties, including shopping centers, theaters, and restaurants. He has been involved in the development and management of these properties, leveraging his business expertise and brand recognition.

Hotel Investments: Magic Johnson has made investments in the hospitality sector, including hotel properties. He has partnered with established hotel brands to develop and operate upscale hotels in different locations, catering to both business and leisure travelers.

Real Estate Development: Johnson has been involved in real estate development projects, collaborating with development firms to create mixed-use properties and residential complexes. These developments often incorporate retail spaces, residential units, and amenities, contributing to the revitalization of neighborhoods.

Affordable Housing: As part of its commitment to community development, Magic Johnson has shown an interest in affordable housing initiatives. He has been involved in projects aimed at providing safe and affordable housing options for low-income individuals and families.

Magic Johnson Investment

Magic Johnson has been involved in various investment ventures throughout his career, leveraging his success as a basketball player and his business acumen. While I don’t have access to his specific investment portfolio or the latest details, here are some areas where Magic Johnson has made notable investments:

Business Ventures: Magic Johnson is known for his entrepreneurial spirit and has made investments in various industries. He has partnered with companies and invested in sectors such as sports teams, restaurants, movie theaters, technology, and real estate. His business ventures have allowed him to diversify his investments and expand his financial interests.

Sports Ownership: Magic Johnson has been involved in sports ownership, particularly with the Los Angeles Lakers and the Los Angeles Dodgers. He was a part-owner of the Lakers and played a significant role in the team’s success both on and off the court. He also had an ownership stake in the Dodgers, which he later sold for a significant profit.

Real Estate: Magic Johnson has made substantial investments in real estate, including commercial properties, residential developments, and urban redevelopment projects. His real estate investments have focused on revitalizing underserved communities and creating economic opportunities.

Technology and Media: Johnson has shown an interest in the technology and media sectors. He has invested in tech companies and media ventures, capitalizing on the evolving digital landscape and the potential for growth in those industries.

Philanthropic Investments: Magic Johnson has also made philanthropic investments, supporting charitable causes and initiatives. He has been involved in projects aimed at improving education, healthcare, and economic development in underserved communities.

Magic Johnson Brand

Magic Johnson wearing a black T-shirt and take a football
Magic Johnson wearing a black T-shirt and take a football

Magic Johnson’s brand is multifaceted and encompasses various aspects of his career and personal endeavors. Here are some key elements that contribute to the Magic Johnson brand:

Basketball Legacy: Magic Johnson’s brand is rooted in his legendary basketball career. As one of the greatest players in NBA history, he is known for his exceptional skills, leadership, and showmanship on the court. His success as a player has solidified his status as a basketball icon.

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Entrepreneurship: Magic Johnson is renowned for his business acumen and entrepreneurial ventures. His brand extends beyond basketball to encompass his success as a businessperson. He has made significant investments, formed partnerships, and developed a diverse portfolio of ventures in various industries, including sports, real estate, hospitality, and media.

Community Empowerment: Magic Johnson has been committed to empowering underserved communities, particularly in urban areas. His brand reflects his dedication to creating opportunities, revitalizing neighborhoods, and promoting economic development. He has championed initiatives focused on job creation, affordable housing, and educational programs, contributing to his reputation as a community leader.

Philanthropy and Advocacy: Johnson’s brand also includes his philanthropic efforts and advocacy work. He has been actively involved in charitable endeavors, supporting causes related to HIV/AIDS awareness, education, healthcare, and social justice. His commitment to giving back and making a positive impact has resonated with fans and the public.

Leadership and Influence: Magic Johnson’s brand is associated with leadership and influence. He has served as a role model for aspiring athletes, entrepreneurs, and individuals striving for success. His ability to excel in different domains, combined with his charisma and magnetic personality, has garnered him respect and admiration from a wide range of audiences.

Media Presence: Johnson has maintained a media presence throughout his career, appearing in television shows, documentaries, and interviews. His brand has been further enhanced by his eloquence, wit, and ability to articulate his perspectives and experiences.

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Conclusion

Magic Johnson’s net worth stands as a testament to his unparalleled achievements as a basketball player and his subsequent success as an entrepreneur. From his illustrious basketball career with the Los Angeles Lakers to his shrewd business ventures, Johnson has solidified his status as one of the wealthiest individuals in sports.

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Magic Johnson Net Worth – FAQ’s

What other business ventures has Magic Johnson been involved in?

Magic Johnson has been involved in various business ventures, including the formation of Magic Johnson Enterprises (MJE), investments in real estate, restaurants, movie theaters, sports franchises, and partnerships with companies like Starbucks.

How did Magic Johnson’s partnership with Starbucks contribute to his net worth?

Magic Johnson’s partnership with Starbucks allowed for the expansion of Starbucks stores in urban communities, creating opportunities for minority-owned businesses. This partnership proved to be financially lucrative for Johnson.

What is Magic Johnson’s involvement in community development?

Magic Johnson has been actively involved in community development efforts through his business ventures. He has focused on revitalizing underprivileged areas and creating opportunities for economic growth and job creation.

Has Magic Johnson been involved in philanthropic activities?

Magic Johnson has been involved in philanthropy, particularly in areas such as HIV/AIDS awareness and education. Through the Magic Johnson Foundation, he has supported initiatives to improve the lives of underserved communities.

Does Magic Johnson still have endorsement deals?

While specific details may vary, Magic Johnson has been involved in endorsement deals throughout his career. His credibility and reputation make him an attractive spokesperson for numerous brands.

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