How rich is Magic Johnson Today: What is Her Net Worth

Publish date: 2024-05-04

Magic Johnson Jr. is a retired American basketball player and entrepreneur with a $620 million net worth. After winning high school and collegiate basketball championships, he was selected first overall by the Los Angeles Lakers in the 1979 NBA Draught. He was the Lakers’ point guard for 13 seasons. In his debut season, he won the NBA Championship and the NBA Finals Most Valuable Player Award. Johnson was the Lakers’ previous president of basketball operations.

Who is Magic Johnson?

Magic Johnson was born in Lansing, Michigan on August 14, 1959. His father, Earvin Sr., was a GM assembly line worker, and his mother, Christine, was a school caretaker. Magic developed an early interest in basketball after seeing his heroes, such as Earl Monroe. Johnson enrolled at Everett High School and joined the basketball team as soon as he could. When he was 15, he achieved a triple-double with 36 points, 18 rebounds, and 16 assists, earning him the nickname “Magic” from a local sportswriter. His senior year, when he led his team to the state championship, cemented his reputation.

Johnson received offers from every major university but chose to stay close to home and attend Michigan State University. Magic guided his team to the NCAA championship game in 1979 when they faced Indiana State University and its top player Larry Bird. Their match became the most-watched college basketball game ever televised, launching one of the sport’s greatest rivalries. Michigan State went on to upset Indiana, and Johnson was voted the Final Four’s Most Outstanding Player.

How many houses and cars does Magic Johnson have?

Johnson stands about 6.9 feet tall. As a result, one thing all of his automobiles have in common is that they are large luxury cruisers. These vehicles range from prestigious American names like Lincoln to German automotive behemoths like Rolls Royce. Mojo is also a devoted father, prepared to give his son EJ Johnson a Mercedes-Benz AMG G63 SUV valued at more than $135,000.

How much does Magic Johnson make annually?

Johnson’s annual pay is projected to be $50 million.

How many businesses does Magic Johnson own?

Magic’s retirement has not been peaceful. In retirement, he founded Magic Johnson Enterprises, which is now worth over $1 billion and has earned Magic a personal net worth of $600 million. Magic Johnson Enterprises is the parent corporation of Magic Johnson Theatres, a film studio, and a promotional marketing firm. Magic bought 5% of The Lakers for $10 million in 1994, which he sold to billionaire Patrick Soon-Shiong in 2010 for a reputed $50-60 million. Johnson also sold his Starbucks franchise for $75 million in 2010.

Magic and a group of partners paid $2 billion to buy the Los Angeles Dodgers from Frank McCourt on March 27, 2012. More information can be found here: Magic Johnson acquires the Los Angeles Dodgers for $2 billion.

Johnson purchased a controlling stake in EquiTrust Life Insurance Company in 2015, which oversees $14.5 billion in annuities, life insurance, and other products. In 2023, Magic was part of an investor group led by Josh Harris that paid $6.05 billion for the NFL’s Washington Commanders. Magic Johnson is an investor in aXiomatic eSports, Team Liquid’s parent company.

How many Investments does Magic Johnson have?

Johnson and his wife own a property in Beverly Hills’ gated community of Beverly Park. In addition, the pair owns a Tuscan-style beach villa in Dana Point, Orange County, California. The couple used to own a home in Napili, Hawaii, but it was too far away for their children to visit, so they traded it in for the beach property around 75 miles south of Beverly Hills.

Johnson’s Bel-Air residence, which he lived in from 1981 to 1990, was listed for $14.5 million in 2022 before being reduced to $11.5 million in 2023. Magic Johnson paid $600,000 for the house the year after winning his first NBA title and later sold it for $2 million.

How many Endorsement deals has Magic Johnson?

Magic has numerous endorsement deals, most notably with Nike, Starbucks, 24-Hour Fitness, and T.G.I. Fridays, and AMC Theatres.

How many charities has Magic Johnson donated to?

Magic Johnson has donated to the following charities, which are listed on this website:

How many Philanthropy works has Magic Johnson supported?

Magic Johnson founded the Magic Johnson Foundation in 1991 as a single-disease organization dedicated to raising funds for community-based HIV/AIDS education and prevention programs.

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