(Photo : Rodin Eckenroth/Getty Images) LOS ANGELES, CALIFORNIA – Magic Johnson attends the Los Angeles premiere of Apple’s “They Call Me Magic” at Regency Village Theatre on April 14, 2022 in Los Angeles, California.
Los Angeles Lakers icon Magic Johnson has ascended to the ranks of billionaires this 12 months, primarily accumulating his wealth after his illustrious taking part in profession ended.
The playmaking maestro captivated the NBA all through the Nineteen Eighties, main the Lakers through the Showtime period, characterised by its fast-paced, high-scoring, and entertaining model of basketball.
The 64-year-old’s web price now stands at a staggering $1.2 billion, as famend enterprise and monetary outlet Forbes reported.
The five-time NBA champion has change into the fourth skilled athlete to achieve billionaire standing, becoming a member of basketball legends Michael Jordan and LeBron James and golf star Tiger Woods.
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Forbes has recognized a file quantity of billionaires worldwide this 12 months, totaling 2,781 people, with their mixed web price reaching an unprecedented $14.2 trillion.
Magic Johnson made savvy investments after his taking part in days
Johnson achieved this milestone by a thriving post-basketball profession, leveraging his investments in skilled sports activities groups, film theaters, Starbucks franchises, and a life insurance coverage supplier.
He holds minor pursuits in numerous sports activities franchises, together with the Washington Commanders, the Los Angeles Dodgers, the Los Angeles Sparks, and Los Angeles FC.
The bulk of his web price stems from his 60 % possession stake in EquiTrust, a life insurance coverage firm primarily based in Iowa, which he acquired in 2015.
Since buying the stake, the corporate’s property have surged from $16 billion to $26 billion, boasting round $2.6 billion in annual revenues.
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