Looking about the net worth of Magic Johnson? Well, check out here to know Johnson’s net worth, career highlights, and a lot more.
Earvin “Magic” Johnson Jr. was born on August 14, 1959. A former American professional basketball player, Magic Johnson is also the president of the basketball operations of NBA’s Los Angeles Lakers.
Johnson’s name is always associated with the best point guard of all time. He played 13 seasons for the Lakers and in 1996, he was honored by getting listed among the 50 best players in NBA’s history.
During his career, Johnson achieved 3 NBA MVP awards, 12 all-star games, 9 appearances in NBA finals, and 10 all-NBA team nominations. In 1992, Johnson was part of the US Men’s Olympic Basketball team, also known as ‘The Dream Team’.
How much is the net worth of Magic Johnson?
Magic Johnson’s net worth is $600 million as of December 2021. He is a former American professional basketball player from the team, Los Angeles Lakers.
The team won the Olympic Gold Medal in the year. Johnson is the all-time leader in NBA with 11.2 average assists per game. He led the league four times in season assists.
Magic Johnson is a multifaceted personality. Besides being a professional basketball player, he is also a motivational speaker, philanthropist, broadcaster and entrepreneur. In 2009, Ebony Magazine named him among the most influential Black Businessmen in America.
He partly owned the Lakers for seven years. Along with a group of investors, he owned the Los Angeles Dodgers in 2012 and the Los Angeles Sparks in 2014.
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Johnson has earned a huge wealth in different avenues and his net worth is an impressive figure that makes an interesting topic we pursue here. Also, we explore how he earned a huge amount of money and how he spends his wealth.
Magic Johnson Net Worth: Quick Summary
|Name||Magic Johnson(Earvin “Magic” Johnson Jr.)|
|Date of birth||August 14, 1959|
|Source of earnings||Professional basketball, business ventures, Investments|
|Residence||Beverley Hills, California|
|Charity works||Magic Johnson Foundation, The Miami Project, Keep A Child Alive, St. Anne’s, Buoniconti Fund to Cure Paralysis|
|Career roles||Basketball player, Film Producer, Talk show host, Actor, Entrepreneur, Athlete, Television producer, and Basketball Coach|
|Net worth in 2021||$600 million|
Net Worth Of Magic Johnson
Magic Johnson’s net worth in 2021 is valued at $600 million which places him among the richest players on the globe. During his career in sports, Magic earned more than $18 million from salaries and many more millions in endorsements.
Johnson earns through multiple sources. Upon his retirement from sports, he launched a business known as Magic Johnson Enterprises which is estimated to value at more than $1 billion today. In fact, this business venture has made a significant contribution to his impressive net worth.
Magic Johnson Enterprises is the owner of Magic Johnson Theaters, a promotional marketing firm and a movie studio. In 1994 Johnson bought a 5% stake in The Lakers worth $10 million.
In 2010, he sold this stake to billionaire Patrick Soon-Shiong in a deal the fetched him around $60 million. In the same year, Magic also sold away the chain of Starbucks in a deal valued at $75 million.
In 2012, Magic and a group of investors purchased The Los Angeles Dodgers from Frank McCourt paying $2 billion.
Important Career Highlights of Magic Johnson
Johnson fell in love with basketball at a very young age inspired by some legendary players like Earl Monroe. When he was just 15 years old, he scored a triple-double with 36 points, 16 assists and 18 rebounds. A local sportswriter gave him the nickname ‘Magic’ which remained with him throughout the career.
In 1979, Johnson led his team to NCAA finals confronting Indiana State University and the star player Larry Bird. Johnson’s team came out successful and the face-off became one of the most watched college basketball games ever and Johnson and Larry Bird became one of the biggest sports rivals in history.
Playing for the Lakers, Johnson won five NBA Championships during the years 1980, 1982, 1985, 1987, and 1988. He was part of NBA Finals MVP three times in 1980, 1982, and 1987.
He got the recognition as the most valuable player in the NBA three times during 1987, 1989, and 1990. Magic participated in the All-Star game 12 times and won MVP of the All-Star game two times. Johnson is known as the best point guard of all time.
In 1991, Johnson publicly announced that he had tested positive for HIV and chose to retire from sports. However, he made a comeback in the 1992 All-Star Game. Following protests from other players, he stayed away from games for 4 more years and returned in 1996 when he was 36 and played 32 games for the Lakers.
His final comeback was a huge success landing his team on the record score of 22-10 in the games he played. Finally Johnson retired after this episode.
Playing in the NBA, Magic Johnson bagged 17,707 points, 10,141 assists, and 6,559 rebounds. His career averages per game are 19.5 points, 11.2 assists, and 7.2 rebounds. His average assists record of 11.2 is the highest in the history of the NBA. Johnson is also the only player with an average of 12 assists during NBA Finals series and he achieved it six times.
Life After Retirement of Magic Johnson
In November 1991, Johnson announced that he had contacted HIV and announced his decision to retire from sports. During 1991, his announcement about his HIV positive status startled the world and highly helped erase the stereotyped misconception that HIV was a disease that would affect only the gay and that heterosexuals need not have to worry about it.
In 1991, Johnson established the Magic Johnson Foundation to support the measures combating HIV. Since then, he has also been an advocate for safe sex and preventing HIV. Johnson too made his appearances in many talk shows and debate shows.
Johnson is also an entrepreneur, broadcaster and philanthropist. After retiring from Sports, Johnson has been using this as an investment to amass a huge fortune.
Magic Johnson Enterprises opened up a line of movie theaters, real estate, record labels, health clubs, coffee shops, sports goods stores, and fast food restaurants. Magic also owned part of Sparks, Dodgers, Lakers, and LA Football Club.
How Magic Johnson Spends His Money?
Along with his wife, Johnson owns a house in Beverly Hills. The property is located in a gated community called Beverley Park. They too own a beach house built in Tuscan style in Dana Point, Orange County, California.
Earlier the couple owned a home in Napili, Hawaii. Since it was located far from the place where their children were growing up, they exchanged it for the beach property which is located about 75 miles south of Beverly Hills.
In 2021, Magic Johnson vacationed in Europe in a $150 million super-yacht named Aquila. This 280 feet yacht has 7 bedrooms, a crew of 28 members, 3 jet skis, trampoline, 2 massage rooms, spa, gym, night club and a movie theater.
To charter the yacht, the cost is $1.1 million per week. In the yacht, his wife and some other friends accompanied him. This sort of luxurious vacationing has become an annual feature for Johnson.
His cars collection has a Ferrari and a BMW. He too owns a private jet.