- Magic Johnson is such an interesting subject in NBA history
- He is now retired but his dominance on the court still reigns
- His legacy transcends as the best point guard of the game to date
In the history of the NBA, Magic Johnson net worth is such an interesting subject.
Although he is now retired, his dominance on the court still reigns. Life events for him and his family also inspire and teach many. As a professional basketball player in the US, his legacy transcends as the best point guard of the game to date.
He is remembered as the first batch of black American players to win an NBA Championship back in 1979. His success on the court goes beyond to his investments which now lives on. His story is empowering and it gives hope to the hopeless.
MAGIC JOHNSON BIOGRAPHY
|Full Name||Earvin ‘‘Magic’’ Johnson Jr.|
|Place of birth||Michigan|
|Source of wealth||NBA/Media|
MAGIC JOHNSON NET WORTH
As of 2023, Magic Johnson net worth is $700 million. A sizeable share of his wealth stems from investments he made using the proceeds of his NBA earnings. The Los Angeles Lakers picked Johnson in the 1979 NBA Draft and offered him a 25-year, $25 million deal with the Lakers.
Shortly after retiring as a player, Magic delved into coaching which also earned him a lot of money. Then, he had been thinking of ways to earn from business and this is when he approached Jerry Buss, a former LA Lakers owner who passed on unfortunately. Buss always supported Johnson in his career even his retirement as a Lakers player.
Before his death, he helped Johnson acquire a 4% stake in the LA Lakers for $10 million and he rose to the position of executive director. Johnson also gave a hand to several businesses among them, a production company, Magic Johnson Entertainment and a recording label, Magic Johnson Music.
Today, the 64-year-old runs Magic Johnson Enterprises, a business conglomerate with a $700 million wealth portfolio. Its businesses include a movie theatre chain called Magic Johnson Theaters, a promotional organisation called Magic Johnson Productions, and a production company called Magic Johnson Entertainment. He also owns Aspire, a cable network TV and Sodexo-Magic, a contract food service that he runs.
Bill Russell inspired the retired American NBA player to start playing basketball from an early age. Born in Michigan to parents of humble means, Johnson always dreamt of giving his parents a better life and basketball was his way out. He became the best junior high player at Everret High School even with its reported cases of racism.
Michigan State, which was near home, ultimately won his college admissions decision. He was told by coach Jud Heathcote that he could play point guard, and he saw this as a big step towards being selected in the NBA draught.
The Los Angeles Lakers selected Johnson first overall in the 1979 NBA Draft. Johnson remarked that the opportunity to play with Kareem Abdul-Jabbar crowned his NBA career. Abdul-Jabbar was, until 2023, the NBA All-time scorer, a position that Lakers’ player LeBron James now holds. In the 1981–82 season, Johnson excelled, averaging 18.6 points, 9.6 rebounds, 9.5 assists, and a league-high 2.7 steals per game.
He led the Lakers to the 1985 NBA Finals while averaging 18.3 points, 12.6 assists, and 6.2 rebounds per game during the regular season in 1984–85. Before the 1991–1992 NBA season, a positive HIV/AIDs test nearly ruined Magic Johnson net worth. It is then that he disclose his positive status publicly and announced his retirement.
Magic Johnson is a family man and a husband to Cookie Johnson. The couple has three kids; two sons Andre and EJ and a daughter Elisa. Cookie is an embodiment of family love. She stuck by Johnson’s side in 1992 when he went public about his positive HIV status.
Cookie was at the time heavily pregnant with EJ but she was a discordant partner. This means that she was and still is negative. The public ridicule the family went through, overrode Magic Johnson net worth but he survived it.
With his to-die-for wealth portfolio, Johnson owns a $138million superyacht Aquila. It has a state-of-the-art cinema room and nightclub which he hires out for $1 million weekly. Besides this multi-million yacht, he also owns a fleet of sleek cars which correctly define Magic Johnson net worth. They include the following:
- Mercedes-Benz SL450
- Bentley Continental V8
- Lincoln Mark LT Pickup Truck
- Rolls Royce Phantom Drophead Coupe
- Lincoln Navigator
- Cadillac Escalade
- Which NBA player is a billionaire?
LeBron James, Los Angeles Lakers player.
- How many times did Magic Johnson retire?
He retire three times in his NBA career.
- How did Magic Johnson get so rich?
He invested in multiple sectors of the economy.
- Why was Magic forced to retire?
His public revelation that he was HIV positive had some people force him to retire
- Why did Magic Johnson stop playing basketball?
His HIV-positive status triggered his retirement
You must be logged in to post a comment Login