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Retired basketball player Magic Johnson holds a net worth worthy of his achievements during his career.

Athletes, in general, have been revered by the public for aeons. People consider them as celebrities who operate to bring victories in their respective sports. Similar to outdoor sports, games like basketball have become a fan-favourite since long ago. In the field of basketball, specifically, the NBA is a competition that is a must-watch for all fans. Subsequently, speaking about basketball, we are reminded of the legend, Magic Johnson.

About: Magic Johnson

Magic Johnson is a professional American basketball player who is now retired. He was the former president of basketball operations for the Los Angeles Lakers of the National Basketball Association, also called the NBA. People regard Johnson as the best point guard of all times in the history of the NBA. Magic Johnson played in the mentioned position for an astounding thirteen seasons as a member of the Lakers. Moreover, he is a five-time NBA champion and earned almost $40 million during his career. In 1981, he also secured a $25 million contract with the Lakers, which was valid for 25 years. Furthermore, Johnson established a business following retirement.

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Early Life: Magic Johnson

Magic Johnson, born as Earvin Johnson Jr., grew up in the city of Lansing in Michigan. He was the son of Earvin Sr., an assembly worker at General Motorsand Christine, who worked as a janitor. Johnson had six other siblings. His parent’s headfast work ethics influenced Johnson strongly. His peers would often tease Johnson for helping his father on the garbage route. Therefore, basketball became a pivotal part of Johnson’s life from an early age. Johnson received the title ‘Magic’ at the age of fifteen, in a match for Everett High School. He scored triple-double worth 36 points, 18 rebounds, and a record of 16 assists.

Career: Magic Johnson

Initially, Johnson had no intention to pursue basketball professionally. He wanted to focus on studies on communication majors and become a television commentator. Nevertheless, he ultimately decided to play for Michigan State at the college level. In the 1978-1979 season, Michigan State qualified for the championship of the NCAA Tournament. They played a match against Indiana State, led by Larry Bird. In this match, the judges voted Johnson as the Most Outstanding Player of the Final Four. Johnson entered the 1979 NBA draft after two years in college. In 1991, Johnson had to retire from the NBA following his diagnosis with HIV. However, he later returned to the Lakers for 1994 and 1996 separate stints. 

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He had a remarkable 12-year career, winning five NBA titles where the team proceeded nine times to the Finals, and three Most Valuable Player (MVP) awards in the NBA Finals. Additionally, Johnson obtained three MVP awards in the regular-season as well. He also received the title to the All-NBA First Team for a total of nine times. Nevertheless, after this, he finally retired again. Subsequently, Johnson explored his business calling. He established the Magic Johnson Enterprises in 1995. Now, Johnson owns health clubs, real estate, a promotional marketing company, and many more. He also holds the company, SodexoMagic.

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Net Worth: Magic Johnson

Sources suggest that Magic Johnson has a net worth of over $600 million. Johnson owns 5% of the Lakers team, which he purchased back in June 1994. In 2010, Magic sold the ownership to billionaire Patrick Soon-Shiong for a reported $50-60 million amount. Following his retirement, he set up the Magic Johnson Enterprises worth $1 billion today. The Enterprise undertakes Magic Johnson Theaters, a movie studio as well as a promotional marketing company. Furthermore, in 2010, Johnson sold his chain of Starbucks for a sum of almost $75 million. Moreover, in an association of a few partners, Magic purchased The Los Angeles Dodgers from Frank McCourt for $2 billion.

Magic Johnson had quite a successful career. Nevertheless, he had to work hard for it. If not for his HIV diagnosis, Johnson could have continued his journey in the field of basketball. Nonetheless, his retirement allowed him to venture into other investment lines, making him who he is today.

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