What does Magic Johnson own?

For many followers, Magic Johnson’s internet price is simply the tip of the iceberg in relation to pertinent details about the NBA legend. Each on and off the courtroom, Johnson has had a captivating and vital life that has made him part of the material of America. In different phrases, he’s excess of simply one of many greatest point guards in NBA history.

Who’s Magic Johnson?

Throughout his life, Magic has gone from athlete to activist to entrepreneur to being among the many richest MLB owners. The caveat is that people of various generations know Magic in numerous methods. Let’s look past Magic Johnson’s internet price and check out all features of his life and profession that the typical individual might not find out about. 

What’s Magic Johnson’s internet price?

As of 2023, Magic Johnson’s internet price is estimated at round $640 million. Amongst present and former NBA gamers, solely Michael Jordan and LeBron James are price extra.

Nevertheless, lower than 10% of his internet price might be credited to his enjoying profession. Most of Magic’s $640 million has been earned by means of entrepreneurial ventures after he retired from enjoying basketball.

How a lot did Magic Johnson make as a participant?

By most estimates, Magic Johnson made lower than $40 million as a participant throughout his NBA profession. In fact, that also made him one of many highest-paid gamers of his technology. Magic Johnson’s longest contract was signed early in his profession and set a brand new bar for professional athletes.

In 1981, Magic and the Lakers agreed to a 25-year, $25 million contract, which on the time was the most important contract in professional sports activities historical past. In fact, his profession wouldn’t be that lengthy and that wouldn’t be the final contract he signed. Nevertheless it’s vital to know that Magic did increase the bar for professional athletes financially.

What number of Championships did Magic Johnson win?

What do Magic Johnson’s rings seem like? Effectively, it will depend on which one as a result of he has a number of.

Magic has been a champion his total life, beginning with the 1979 nationwide championship he received whereas at Michigan State, incomes Last 4 Most Excellent Participant honors within the course of. Whereas within the NBA, Magic led the Lakers to 5 championships, all between 1980 and 1988, creating a dynasty in Los Angeles.

In three of these NBA titles, Magic received Finals MVP honors. Only for good measure, Magic received one other championship in 1992, incomes a Gold Medal on the Olympics as a part of the Dream Workforce.

That’s a minimum of seven championships that Magic received as a participant throughout his profession. Thus far, Magic is only one of seven individuals to have received a university nationwide championship, an NBA title, and an Olympic Gold medal, placing him in elite firm that features Michael Jordan and Bill Russell.

When did Magic Johnson get HIV?

In November 1991, the world realized that Magic Johnson had been identified with HIV. Magic examined constructive for HIV throughout a routine bodily he was present process previous to the beginning of the 1991-92 NBA season.

Following the prognosis, Magic instantly retired from professional basketball. Nevertheless, he performed within the 1992 NBA All-Star Sport and took part within the 1992 Olympics with the Dream Workforce.

Did Magic Johnson unretire?

In the course of the second half of the 1995-96 season, Magic Johnson returned to the Lakers as a participant. This got here after a short and unsuccessful stint because the workforce’s coach in 1994. Magic’s HIV prognosis inspired him to keep up a rigorous exercise routine to assist combat the illness.

Magic has indicated that if he knew the whole lot about HIV after he was identified on the time he was identified, he might not have retired within the first place. His return in 1996 gave him the prospect to rectify a small a part of that. He ended up enjoying 32 video games for the Lakers, averaging 14.6 factors, 6.9 assists, and 5.7 rebounds per recreation. Magic even recorded the ultimate triple-double of his profession throughout his return in 1996.

What did Magic Johnson do after retiring from basketball?

What hasn’t Magic Johnson achieved since retiring from basketball? As talked about, he briefly coached the Lakers after which had a short comeback in 1996. However he additionally immersed himself on this planet of enterprise, finally working a conglomerate referred to as Magic Johnson Enterprises that’s price tons of of tens of millions of {dollars}, which is why Magic himself is price roughly $640 million. 

Magic’s enterprise ventures have included a manufacturing firm, investments in meals and beverage franchises, and becoming a member of possession teams for a number of professional sports activities groups. He’s additionally been a tireless advocate for HIV schooling. At occasions, he’s been a motivational speaker and even a talk-show host. 

Magic has additionally stayed near the Lakers and helped to mentor present NBA gamers along with spending two years because the president of basketball operations for the Lakers between 2017 and 2019. Throughout that point, the Lakers signed LeBron James and traded for Anthony Davis, the pair that finally led Los Angeles to the 2020 NBA championship, which was received after Magic resigned from his place.

Does Magic Johnson like films?

Presumably, Magic Johnson has an amazing love for films. One in every of his first ventures after retiring in 1992 was a sequence of film theaters referred to as Magic Johnson Theaters. Magic’s thought was to construct high-quality multiplexes in city areas to assist foster financial progress.

The preliminary success of Magic Johnson Theaters inspired different corporations, together with Outdated Navy, to open shops in related areas. These days, Magic is not concerned within the every day operations of Magic Johnson Theaters. Nevertheless, the theaters which can be nonetheless open proceed to be branded as Magic Johnson Theaters regardless of being owned by AMC Theaters.

Is Magic Johnson within the restaurant enterprise?

For Magic Johnson, Burger King is certainly one of his many enterprise ventures. In 2004, he purchased 30 Burger King areas, largely in underserved communities in Alabama, Florida, Georgia, and Texas.

A lot of these areas flourished after Magic bought them. Almost 20 years later, it’s estimated that Magic has profited roughly $15 million from his funding in these Burger King areas.

How has Magic Johnson helped espresso drinkers?

Magic Johnson and Starbucks as soon as solid a profitable partnership. Magic is credited with convincing Starbucks CEO Howard Schultz that the espresso chain didn’t solely must service huge cities and prosperous areas.

He claimed that underserved and minority-heavy populations additionally had super shopping for energy. Magic put his cash the place his mouth was, shopping for 125 Starbucks areas, most of which generated above-average gross sales. Roughly 12 years later, Magic bought these 125 shops again to Starbucks, incomes a revenue of roughly $100 million for his funding in Starbucks.

What sports activities franchise does Magic Johnson personal?

Magic Johnson made his first foray into sports activities franchise possession in 1994 when he bought a 5% stake within the Lakers. However that wouldn’t be the final time Magic bought a part of a sports activities franchise.

In 2012, he was a part of an possession group that bought the Los Angeles Dodgers. Magic was additionally briefly half proprietor of the Dayton Dragons, a minor league baseball workforce.

In 2014, Magic was part of the possession group that bought the Los Angeles Sparks of the WNBA. Magic can also be the co-owner of Los Angeles FC, an MLS franchise that received the MLS Cup in 2022.

Final however not least, in 2023, Magic and his enterprise accomplice Josh Harris reached an settlement to purchase the Washington Commanders from Dan Snyder. The deal will give Magic a 4% share of the Commanders, giving him a partial share within the possession of a workforce in virtually all the main sports activities.