Magic Johnson Net Worth [The Legend Himself]

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Net Worth:	$630 million
Profession/Career:	Retired basketball player, entrepreneur, and philanthropist
YouTube Channel:	Magic Johnson (@MagicJohnson)
College:	Michigan State University (did not graduate)
Major/Degree:	Communications
Full Name:	Earvin “Magic” Johnson Jr.
Date of Birth:	August 14, 1959
Place of Birth:	Lansing, Michigan, United States
Height:	6 feet 9 inches (206 cm)

Frequently Associated With

Charles Barkley
Shaquille O’Neal
Michael Jordan
Larry Bird

Table of Contents

Who is Magic Johnson?

Magic Johnson is a retired American professional basketball player who is widely regarded as one of the greatest basketball players of all time. He was born Earvin Johnson Jr. on August 14, 1959, in Lansing, Michigan. He earned his nickname “Magic” during his high school basketball career for his seemingly magical ability to make plays on the court.

Johnson played college basketball for Michigan State University, leading them to the NCAA championship in 1979. He then entered the NBA draft and was selected first overall by the Los Angeles Lakers. He played for the Lakers for 13 seasons and won five NBA championships with the team.

Johnson was known for his exceptional passing ability and court vision, as well as his versatility, being able to play multiple positions on the court. He was also a great scorer and rebounder, and was named the NBA Finals MVP three times.

In addition to his successful NBA career, Johnson has also been involved in various business ventures, including co-owning the Lakers, owning several Starbucks franchises, and founding Magic Johnson Enterprises, which focuses on real estate development, media and entertainment, and sports teams ownership. He is also an HIV/AIDS activist and has been involved in raising awareness and funds for research into the disease.

Magic Johnson’s Net Worth

Magic Johnson’s net worth is estimated to be around $630 million. He has made most of his money through various business ventures, investments, and endorsement deals. He has been involved in a wide range of industries, including sports, entertainment, real estate, and finance.

One of his most successful business ventures was Magic Johnson Enterprises, which he founded in 1987. The company focuses on real estate development, media and entertainment, and sports teams ownership. Through this venture, Johnson has been involved in various projects, including owning or co-owning numerous Starbucks franchises, movie theaters, and fitness centers. He has also been involved in the ownership of several sports teams, including the Los Angeles Lakers, Los Angeles Dodgers, and Los Angeles Sparks.

In addition to his business ventures, Johnson has also earned significant income from endorsement deals with companies like Nike, PepsiCo, and 7-Eleven.

Johnson’s money-making career spans several decades, starting from his NBA career in the 1980s and 1990s to his current involvement in various business ventures. He has been consistently ranked among the wealthiest retired athletes in the world, with a net worth estimated to be around $600 million as of 2021.

Magic Johnson’s Early Life and Childhood

Earvin “Magic” Johnson Jr. was born on August 14, 1959, in Lansing, Michigan, United States. He was the youngest of seven children born to Earvin Sr. and Christine Johnson. Johnson grew up in a working-class family in the city’s north side, where his parents worked hard to make ends meet. His father worked for General Motors, while his mother worked as a school custodian.

As a child, Johnson showed a natural talent for basketball and began playing at an early age. He attended Everett High School in Lansing, where he quickly gained a reputation as a standout player. During his high school career, Johnson led his team to two state championships and was named Michigan’s Mr. Basketball in his senior year.

After graduating from high school in 1977, Johnson enrolled at Michigan State University to play college basketball. He played for the Spartans for two seasons, leading them to the NCAA championship in his second year. Johnson’s stellar play earned him the tournament’s Most Outstanding Player award and helped him gain national attention as a top prospect for the NBA.

In 1979, Johnson entered the NBA draft and was selected first overall by the Los Angeles Lakers. He quickly became one of the league’s most exciting and dominant players, earning the nickname “Magic” for his seemingly magical abilities on the court. His flashy passes, incredible court vision, and overall versatility made him a fan favorite and helped revolutionize the point guard position.

Magic Johnson’s Basketball Career

Johnson’s basketball career began in high school, where he led Everett High School in Lansing, Michigan, to the state championship. He continued his basketball journey at Michigan State University, where he played for the Spartans and led them to an NCAA championship in 1979. In that championship game against Indiana State, Johnson famously went head-to-head with his future NBA rival, Larry Bird.

After his successful college career, Magic Johnson entered the NBA and was drafted as the first overall pick by the Los Angeles Lakers in 1979. He instantly made an impact, earning the NBA Rookie of the Year award and helping the Lakers reach the NBA Finals in his first season. The Lakers’ success continued in the 1980s, forming a dominant partnership known as “Showtime” alongside Kareem Abdul-Jabbar and James Worthy.

Magic Johnson played primarily as a point guard, known for his exceptional court vision, passing skills, and basketball IQ. His ability to make precise and flashy passes revolutionized the game, and he often orchestrated fast breaks and fast-paced offenses for the Lakers. Johnson’s versatility allowed him to play multiple positions and guard various opponents effectively.

Throughout his career, Johnson won five NBA championships with the Lakers in 1980, 1982, 1985, 1987, and 1988. He was named the NBA Finals MVP three times and was selected to the All-NBA First Team nine times. In addition, he was a 12-time NBA All-Star.

Unfortunately, Johnson’s basketball career was abruptly interrupted in 1991 when he announced his retirement after being diagnosed with HIV, a virus that causes AIDS. However, he returned to the NBA briefly during the 1995-1996 season before retiring for good.

Beyond his playing career, Magic Johnson has remained active in the basketball world as a successful businessman and sports executive. He has held various business ventures, including owning shares in the Lakers, and has been involved in philanthropy and HIV/AIDS advocacy.

Magic Johnson’s basketball career left an indelible mark on the sport. He was known for his leadership, charisma, and ability to elevate the performance of his teammates. His style of play and his rivalry with Larry Bird helped revitalize the NBA and played a significant role in popularizing the game.

Magic Johnson’s Most Memorable Games

Magic Johnson had many memorable games throughout his illustrious career. Here are some of his most notable performances:

Game 6 of the 1980 NBA Finals – Johnson’s rookie year – in which he played center due to injuries and recorded 42 points, 15 rebounds, and seven assists to lead the Lakers to the championship and earn Finals MVP honors.
The 1984 NBA Finals, where Johnson led the Lakers to a championship over the Boston Celtics, averaging 18.3 points, 12.6 assists, and 7.7 rebounds per game in the series. In Game 6, Johnson had a triple-double with 14 points, 10 rebounds, and 14 assists.
The 1988 NBA Finals, where Johnson had one of the most memorable games of his career in Game 6 against the Detroit Pistons. Johnson recorded a triple-double with 19 points, 11 rebounds, and 10 assists, including a remarkable performance in the final minutes, scoring nine points to seal the championship for the Lakers.
The 1992 NBA All-Star Game, where Johnson made his return to the NBA after announcing his retirement due to contracting HIV. He scored 25 points, including a memorable three-pointer in the final seconds, to win the game’s MVP award.
Game 1 of the 1991 NBA Finals, where Johnson recorded a triple-double with 19 points, 11 rebounds, and 10 assists in a victory over the Chicago Bulls. This performance came after Johnson had taken a leave of absence from the Lakers earlier in the playoffs due to his HIV diagnosis.

The 1987 NBA Finals, where Johnson had another memorable performance in Game 4 against the Boston Celtics, recording 29 points, eight rebounds, and five assists while playing center due to injuries. This performance helped the Lakers win the game and ultimately the championship.
Game 7 of the 1988 Western Conference Finals, where Johnson had a triple-double with 22 points, 19 rebounds, and 12 assists to lead the Lakers to a victory over the Dallas Mavericks and secure a spot in the NBA Finals.
The 1990 NBA All-Star Game, where Johnson put on a show in front of his hometown fans in Miami, recording 16 points, 10 rebounds, and 14 assists to earn his second All-Star Game MVP award.
The 1982 NBA Finals, where Johnson had a memorable Game 6 performance against the Philadelphia 76ers, recording 13 points, 13 rebounds, and 13 assists to become the first player to record a triple-double in an NBA Finals game since 1969.
The 1991 NBA Finals, where Johnson had another memorable game in Game 2 against the Chicago Bulls, recording 20 points, 11 assists, and 8 rebounds while battling against Michael Jordan in one of the most exciting Finals matchups in NBA history.

Awards and Accolades

Here are some of Magic Johnson’s many awards and accolades:

Five-time NBA champion with the Los Angeles Lakers (1980, 1982, 1985, 1987, 1988).
Three-time NBA Finals MVP (1980, 1982, 1987).
Three-time NBA Most Valuable Player (1987, 1989, 1990).
12-time NBA All-Star (1980–1992).
Two-time Olympic gold medalist (1992, 1996).
NBA All-Rookie First Team (1980).
NBA All-Defensive Second Team (1982).
Inducted into the Naismith Memorial Basketball Hall of Fame in 2002.
NCAA champion with Michigan State (1979).
NCAA Final Four Most Outstanding Player (1979).
J. Walter Kennedy Citizenship Award (1992).
NBA’s 50th Anniversary All-Time Team.
Named one of the 100 Greatest African Americans by Ebony magazine in 2005.
Named one of the 50 Greatest Players in NBA History in 1996.
Inducted into the FIBA Hall of Fame in 2010.
Recipient of the NBA Lifetime Achievement Award in 2020.
Recipient of the Presidential Medal of Freedom in 2021.
Honored with a statue outside of Staples Center in Los Angeles.

Magic Johnson’s Controversies

Although Magic Johnson is widely considered one of the greatest basketball players of all time and is well-regarded for his philanthropic efforts, he has also been involved in several controversies throughout his career.

One of the most significant controversies occurred in 1991, when Johnson announced that he had tested positive for HIV, the virus that causes AIDS. At the time, many people believed that HIV could only be contracted by gay men or drug users, leading to widespread misinformation and stigma surrounding the disease.

Johnson’s announcement was therefore seen as groundbreaking, as he helped to dispel myths about HIV and brought attention to the need for increased education and resources to combat the epidemic.

In 2012, Johnson was criticized for his role as a part-owner of the Los Angeles Dodgers baseball team. Some activists accused Johnson and other owners of using public funds to build a new stadium while neglecting the needs of low-income communities in the area.

Despite these controversies, Johnson remains widely respected for his contributions to basketball and his advocacy for HIV/AIDS awareness and research. He has used his celebrity status to raise awareness and funds for various charitable causes, including education, health care, and social justice initiatives.

Magic Johnson’s Business Ventures and Philanthropy

Magic Johnson has had a successful career as a businessman and entrepreneur, with a particular focus on urban revitalization and investing in underserved communities. Here are some of his most notable business ventures and philanthropic efforts:

Magic Johnson Enterprises: Johnson founded this company in 1987, which has since grown into a large conglomerate with ventures in various industries, including food service, real estate, and media.

Starbucks partnership: In 1998, Johnson partnered with Starbucks to develop and open Starbucks stores in underserved urban neighborhoods.

Ownership of the Los Angeles Lakers: Johnson was a part-owner of the Los Angeles Lakers basketball team from 1994 to 2010 and played a key role in the team’s success during that time.

Urban revitalization projects: Johnson has invested in various urban revitalization projects, including the development of movie theaters, shopping centers, and other businesses in underserved communities.

Philanthropy: Johnson has been actively involved in philanthropy throughout his career and has donated millions of dollars to various causes. His Magic Johnson Foundation, which he founded in 1991, focuses on HIV/AIDS awareness and prevention, as well as providing resources for underserved communities in urban areas.

Education initiatives: Johnson has also been involved in various education initiatives, including the establishment of the Magic Johnson Bridgescape academies, which provide alternative education opportunities for at-risk youth.

Public speaking and mentorship: Johnson has also used his platform to speak publicly about the importance of education, health, and entrepreneurship, and has mentored many young people throughout his career.

Magic Johnson and eSports

In addition to traditional sports, Magic Johnson is a major investor in eSports. Magic put in a $25 million investment into Axiomatic, who is a major player in the eSports industry.

Axiomatic is the owner of Team Liquid, one of the biggest eSports teams in the world. Since then, Axiomatic also invested a large amount with Epic Games, which is the mind behind the massively popular game, Fortnite.

Magic Johnson’s Wife and Kids

Magic Johnson’s wife is Cookie Johnson, whose birth name is Earlitha “Cookie” Kelly. Cookie and Magic Johnson have been married since September 14, 1991. They have a long-standing relationship and have supported each other throughout their careers and personal lives.

Magic Johnson and his wife have three children together, Andre, EJ and Elisa. Magic’s second son EJ came out in 2013, and expressed that although it wasn’t easy, his family has been very supportive.

Although he thought about whether or not he identified as a woman when Caitlyn Jenner came out in 2016, he ultimately decided that he did not feel that way and is very comfortable in his own body.

What Luxury Items Does Magic Johnson Like to Spend His Money On?

As a successful businessman and former professional athlete, Magic Johnson has a significant net worth and enjoys a luxurious lifestyle. While he has not publicly shared specific details about his personal spending habits, there are some luxury items that he is known to enjoy or have invested in:

Real Estate: Johnson has invested in various high-end real estate properties, including multi-million dollar mansions and commercial properties.

Cars: Johnson has been seen driving luxury cars, such as a Rolls-Royce and a Ferrari.

Watches and jewelry: Johnson has been photographed wearing expensive watches and jewelry, including a Rolex Day-Date watch and a diamond-studded bracelet.

Clothing: Johnson is known for his fashion sense and has been seen wearing designer clothing from brands like Gucci and Louis Vuitton.

Private Jets: As a frequent traveler for business and personal reasons, Johnson has been known to charter private jets for his travels.

Inspirational Quotes by Magic Johnson

“All kids need is a little help, a little hope and somebody who believes in them.”

“You’re the only one who knows when you’re using something to avoid the truth.”

“I never think that there’s something I can’t do, whether it’s beating my opponent one on one or practicing another hour because something about my game is just not right.”

“When you’re a successful person, you only have a couple of choices: You’re either going to be a fool about it and not live up to your responsibilities, or you’re going to get back into the community and do something positive.”

“If you want to be successful in life, you’ve got to have a big vision and take small steps to get there.”

“Ask not what your teammates can do for you. Ask what you can do for your teammates.”

“I hope everyone that is reading this is having a really good day. And if you are not, just know that in every new minute that passes you have an opportunity to change that.”

“You’re the only one who can make the difference. Whatever your dream is, go for it.”

“It’s not about how hard you fall, it’s about how high you bounce back.”

“All businesses should be focused on making a positive impact on people’s lives. If you do that, profits will follow.”