Magic Johnson Net Worth: How Retired Basketball Player Made $620 Million!

Magic Johnson Net Worth: He is a former professional basketball player from the United States and is estimated to be worth $630 million. I’ll tell you where and how this money came from, but first, let us give you some background on Magic Johnson. Do you realize he took home the gold at the 1992 Olympics? He also joined the All-Star team in 1993 and was named Most Valuable Player.

In 2002, he was admitted into the Basketball Hall of Fame. There must be some of you Starbucks customers. Magic Johnson has 125 Starbucks. Did you know that? In addition to Starbucks, he controls a chain of 40 to 50 movie theatres. You already know that he once played basketball, so pay attention to the fact that he has also played for the Dodgers. He has long served as a broadcaster for NBC, TNT, and ESPN.

He once served as the Los Angeles Lakers head coach. He has been associated with the Los Angeles Lakers for so long that from 1994 to 2010, he held a 10% stake in the basketball team. He also owns a prepaid MasterCard in his name, which very few of you are likely aware of.

What Is The Net Worth of Magic Johnson?

A retired American basketball player and businessman with a $620 million fortune, Earvin “Magic” Johnson Jr. were chosen by the Los Angeles Lakers as the first overall player in the 1979 NBA Draft after winning basketball titles in high school and college. He spent 13 seasons as the Lakers point guard. He captured the NBA Championship and the Most Valuable Player Award in his first season. Johnson served as the Lakers’ previous president of basketball operations.

Magic Johnson Net Worth
                                                                                         Magic Johnson Net Worth

Have A Look At The Early Life Of Magic Johnson

Magic Johnson was born in Lansing, Michigan, on August 14, 1959. His mother Christine worked as a school janitor, while his father Earvin Sr. was an assembly line worker for General Motors. Magic had a passion for basketball and idolized players like Earl Monroe. Johnson attended Everett High School, where he soon joined the basketball team.

The moniker “Magic” was given to him by a local sportswriter when, at the age of 15, he recorded a triple-double of 36 points, 18 rebounds, and 16 assists. His reputation was cemented when he led his team to the state championship in his senior year.

Johnson received offers from every prestigious college but chose to attend Michigan State University rather than travel far from home. When Indiana State University and their great player Larry Bird were their opponents in the NCAA championship game in 1979, Magic’s team fought them.

Their matchup gave rise to one of the biggest rivalries in sports history and became the most-watched college basketball game ever broadcast on television. Following Michigan State’s victory over Indiana, Johnson was voted the Final Four’s Most Outstanding Player.

Want Some Related Articles? We have covered some top articles. You can check the…

NBA Career Of Magic Johnson

The Los Angeles Lakers drafted Magic first overall in 1979. Magic and Kareem Abdul-Jabbar led the Lakers to the NBA title in Magic’s rookie season. Magic was awarded NBA Finals MVP. 1980, 1982, 1985, 1987, and 1988 were Magic’s championship years with the Lakers. 1980, 1982, and 1987 NBA Finals MVP. 1987, 1989, and 1990 NBA MVP. He was a 12-time All-Star game MVP. The most significant point guard ever.

HIV ended Magic’s career in 1991. Magic returned to the NBA in 1993-94 as Lakers coach. Jerry Buss asked him to replace Randy Pfund and Bill Bertka. After the Lakers lost five of their next six games under Johnson’s coaching, he resigned. The Lakers closed with a 10-game losing run, and Johnson’s final record was 5–11. Instead of coaching, he bought 5% of the team in June 1994.

Magic Johnson, then 36, returned to the Lakers for the 1995-96 season. Johnson’s final comeback was “a success” because the Lakers went 22–10 in his games. After the Lakers lost to the Rockets in the playoffs, Johnson retired.

In 905 NBA games, Johnson scored 17,707 points, 6,559 rebounds, and 10,141 assists, averaging 19.5 points, 7.2 rebounds, and 11.2 assists per game. Johnson owns the Finals record for assists in a game (21) and has the most playoff assists (2,346). He’s the only player to average 12 assists in an NBA Finals series. He has the single-game and career All-Star Game record for assists (127).

Retirement Of Magic Johnson

Johnson launched the Magic Johnson Foundation after announcing his HIV illness in 1991. Johnson is a broadcaster, entrepreneur, philanthropist, and HIV/AIDS prevention advocate. His 1991 HIV-positive statement surprised the world and dispelled the myth that HIV was a “gay sickness” heteros*xuals didn’t have to worry about.

                                                                                 Magic Johnson’s Net Worth

Magic The Entrepreneur

Magic’s retirement has not been a peaceful one. In his retirement, he established the Magic Johnson Enterprises business empire, which is now worth over $1 billion and has earned Magic a personal net worth of $600 million. Magic Johnson Theaters, a movie studio, and a promotional marketing firm are all owned by Magic Johnson Enterprises.

The 5% stake in The Lakers that Magic purchased in 1994 for $10 million was sold to billionaire Patrick Soon-Shiong in 2010 for an estimated $50–60 million. Johnson also sold his Starbucks network for $75 million in 2010. The Los Angeles Dodgers were sold to Magic and a group of partners for $2 billion on March 27, 2012.

Have A Look At The Personal Life Of Magic Johnson

In a low-key ceremony held in Lansing, Michigan, Johnson wed Earlitha “Cookie” Kelly in 1991. Earvin III (EJ), the couple’s kid was born in 1992 and is openly gay. EJ appeared on Rich Kids of Beverly Hills, a reality TV program. In 1995, Magic and Cookie adopted Elisa as a child. Johnson and his wife split their time between Beverly Hills and Dana Point, California.

In addition, Johnson has a son from a previous union. Andre Johnson was born to Melissa Mitchell in the year 1981. Andre was brought up by his mother, although he visited Johnson every summer and subsequently served as the company’s marketing director.

What Is The Real Estate Of Magic Johnson?

In the private neighborhood of Beverly Park, Johnson and his wife have a residence. The pair also owns a beach house in Dana Point, Orange County, California, with a Tuscan design. When their children were little, the couple’s residence in Napili, Hawaii, was too far away to get to, so they exchanged it for the beach property around 75 miles south of Beverly Hills.

Please stay connected with us on Nog Magazine for more articles and recent news.