(Photo : Harry How/Getty Images) LOS ANGELES, CALIFORNIA – Magic Johnson reacts as he speaks to the press resigning as Los Angeles Lakers President of Basketball Operations earlier than the sport in opposition to the Portland Trail Blazers at Staples Center on April 09, 2019 in Los Angeles, California.
Magic Johnson is thought to be the best level guard of all time, having amassed a Hall of Fame profession spanning 13 seasons. He spent his complete NBA profession with the Los Angeles Lakers, from 1979 to 1991, with a quick comeback in 1996.
The 6-foot-9 playmaker dazzled NBA followers throughout the Nineteen Eighties, spearheading the Lakers’ Showtime period recognized for its fast-paced, high-scoring, and entertaining model of play.
Accompanied by a proficient supporting solid that included all-time nice Kareem Abdul-Jabbar, Johnson guided the Lakers to 5 NBA championships throughout this illustrious interval. In his storied enjoying profession, he additionally claimed three NBA Finals MVPs and three regular-season MVPs.
Since retiring from the hardwood, Johnson has skilled nice success financially, incomes considerably extra in his post-playing profession from his numerous enterprise endeavors and investments.
With his success in enjoying profession and past, many ask: What is Magic Johnson’s Net Worth in 2023?
Magic Johnson’s Net Worth 2023: $1.2 billion
The 64-year-old Johnson is price $1.2 billion as of 2023, in line with enterprise and monetary journal Forbes.
The Hall of Fame level guard turned the fourth skilled athlete to grow to be a billionaire, becoming a member of the unique membership of fellow basketball greats Michael Jordan and LeBron James, and golf star Tiger Woods.
Johnson reached this landmark by a profitable post-basketball profession as an investor in skilled sports activities groups, film theaters, Starbucks cafes, and a medical insurance supplier.
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Magic Johnson’s Wealth
In a 1990 Sports Illustrated interview, the previous Michigan State standout expressed his intentions to make a considerable affect within the enterprise world, setting his sights on attaining a internet price ranging between $100 million to $200 million greater than three a long time in the past.
Johnson’s huge wealth primarily comes from proudly owning a number of skilled sports activities groups and important investments in numerous industries.
The majority share of his internet price is tied to his 60 p.c possession within the Iowa-based life insurance coverage firm EquiTrust, a stake he acquired in 2015.
Since the acquisition, EquiTrust’s property have surged from $16 billion to $26 billion, with annual revenues of roughly $2.6 billion.
The five-time NBA champion possesses possession stakes in three skilled sports activities franchises primarily based in Los Angeles, which embody the MLB’s Los Angeles Dodgers, WNBA’s Los Angeles Sparks, and MLS membership LAFC.
Johnson’s sports activities possession portfolio features a minority stake within the NFL’s Washington Commanders after billionaire Josh Harris’ record-acquisition of the staff for $6.05 billion final May.
Since 1994, the twelve-time NBA All-Star has led the institution of a sequence of film theaters in collaboration with Loews Cineplex Entertainment, named Magic Johnson Theatres.
These theaters have been strategically positioned in predominantly Black neighborhoods in main cities throughout the United States, comparable to Los Angeles, Atlanta, Houston, and New York City.
Additionally, he initiated a 50-50 partnership with espresso chain Starbucks to launch cafes in Black neighborhoods.
The nine-time All-NBA First Team member holds a minority stake in a PepsiCo bottling plant exterior Washington D.C., a enterprise he entered into with investor Earl Graves in a $60 million deal in 1990.
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