Magic Johnson: Who Owns Sodexo?

SodexoMagic, a joint venture between Sodexo and Magic Johnson Enterprises (MJE), has appointed Charles Johnson as its new President. SodexoMagic is a food and facilities management service provider that was formed in 2006 through a joint venture between Magic Food Provisions (MFP) owned by NBA Hall of Famer Earvin “Magic” Johnson and Sodexo Inc. The company provides food and facilities management services to corporations, healthcare facilities, K-12 schools, and campuses, including many Historically Black Colleges and Universities (HBCUs).

Member of the board of SodexoMAGIC is Earvin Johnson, who holds a 51-percent stake in the company and serves as Chairman of the Board. This certification qualifies SodexoMAGIC as a NMSDC-certified Minority Owned Business. The initiative includes a marketing agreement and the formation of SodexoMAGIC, LLC, a new joint venture that is 51 percent owned by Johnson. In June, Sodexo Inc. joined forces with Magic Johnson Enterprises in a joint venture called SodexoMAGIC LLC in 2006 to provide services for businesses.

SodexoMagic is a certified minority business enterprise (MBE) that is majority owned by Mr. Earvin “Magic” Johnson, who has 18 years of Magic experience and 7,000+ years of Magic. In 2007, Sodexho launched its catering arm. In June, Sodexo Inc. joined forces with Magic Johnson Enterprises in a joint venture called SodexoMAGIC, LLC, which provides food and facilities management services to corporations, healthcare facilities, K-12 schools, and campuses.

Who is the founder of SodexoMAGIC?

SodexoMagic, founded in 2006 by NBA Hall of Famer Mr. Earvin “Magic” Johnson, is a leading food and facilities management provider with over 7, 000 employees serving over 1, 700 sites. With a mission to uplift communities, advocate equity, ensure inclusion, and be a force for change, SodexoMagic provides healthy food and exceptional services to sustain and empower communities. The company aims to create a just and more equitable future for all people by ensuring quality of life services and promoting wellness for all communities.

Does Magic Johnson still own Starbucks?

Magic Johnson Enterprises is the sole franchisee of Starbucks, with ownership of 125 franchises distributed across the United States. He has subsequently divested himself of all such holdings. The company’s primary areas of interest are deals, investments, media, sports technology, music, film, television, major technology companies, artificial intelligence, executives, and entrepreneurs. Additionally, the website provides guidance on a range of topics, including career opportunities, terms and conditions, and a privacy policy.

Who owns Sodexo?

Sodexo’s independence is maintained by the family of Pierre Bellon, the company’s founder, who controls 74 percent of the voting rights. One of the principal shareholders of Bellon SA. As of August 31, 2023, Bellon SA held 42. Eight percent of Sodexo’s capital is held by the aforementioned entity, which possesses 57 percent of the voting rights. Nine of the exercisable voting rights are comprised of shares from restricted share plans held by employees. The number of shares held has not been updated since July 31, 2023.

Does 7 Eleven own Starbucks?

Starbucks Australia CEO Chris Garlick, billionaire Russell Withers, and 7-Eleven Australia CEO Angus McKay, who recently sold the convenience store chain, have praised the long-term approach of the family in building the business around the 7-Eleven brand in Australia. Starbucks Australia recently turned a profit for the first time in 23 years, confirming the belief that the brand has a strong place in the country and encouraging the family about the future of the company.

What companies does Magic Johnson own?

Johnson, a Lansing native, is expanding his influence through investments in EquiTrust, ASPiRE, and SodexoMAGIC. He is also investing over $1 billion in infrastructure improvement in the US through a newly formed fund. Johnson has also accepted a board position with Square, a mobile payment company that supports small businesses and entrepreneurs. He is constantly evolving and staying relevant in the digital age.

Who are the major shareholders of Sodexo?

Sodexo, a global leader in food and facilities management services, offers a range of services including meal preparation, restaurant management, and more. The company’s net sales are divided by market, with companies primarily targeting government departments, healthcare facilities, senior-citizen residences, and schools and universities. Sodexo’s distribution is primarily in Europe, North America, and other regions. The company’s shares are valued at €42. 75 billion by the Bellon Family.

Who owns most of Pepsi?

Vanguard Vanguard holds the majority of PepsiCo (PEP) shares, with a mix of institutional, retail, and individual investors. Institutional investors own approximately 59. 56 of the company’s stock, followed by 0. 55 from insiders and 39. 89 from public companies and individual investors. The latest TipRanks data shows that 41. 35 of the company’s stock is held by institutional investors, 0. 55 by insiders, and 39. 89 by retail investors. The majority of the company’s stock is held by institutional investors.

Is Magic Johnson still rich?

Magic Johnson, a former NBA player, has become a billionaire, worth $1. 2 billion, thanks to investments in various professional sports teams and a life insurance company. Johnson, who earned around $40 million as a Los Angeles Lakers player, built his wealth through joint venture partnerships in various industries, including movie theaters, Starbucks franchises, real estate, and healthcare. His majority of his fortune comes from a 60-percent stake in Equitrust, which has grown from $16 billion in assets under management to $26 billion since 2015.

He also owns small stakes in various sports teams, including the NFL’s Washington Commanders, MLB’s Los Angeles Dodgers, WNBA’s Los Angeles Sparks, and MLS’ LAFC. Johnson is the fourth athlete billionaire Forbes has identified, following Michael Jordan, Tiger Woods, and LeBron James. Before the 1979 NBA Draft, Nike offered Johnson stock in the company and royalties on shoe sales, but he declined in favor of $100, 000 per year cash from Converse.

Does Magic Johnson own Pepsi?

In 1990, NBA player Earl Johnson demonstrated his dominance on the court and in the boardroom by buying a controlling stake in a Pepsi-Cola Co. bottling plant for $60 million. He and Earl Graves formed the largest minority-owned and operated Pepsi facility in the country at the time. This was Johnson’s first business venture outside of product endorsements.

As Starbucks experienced significant growth in the 1990s, Johnson saw an opportunity in 1998 to expand into Black communities. He met with then-Starbucks CEO Howard Schultz, who believed Starbucks could turn a profit in the inner city. Schultz was impressed by a movie screening at a Magic Johnson Theater, where he watched 500 Black women in a theater. Johnson and Schultz agreed to expand Starbucks into the inner city with “pound cake instead of scones”, and Johnson said that stroking the Starbucks deals “is what really stamped me as a serious businessman”.

Who is the CEO of Sodexo?

The Sodexo Leadership Team, headed by Sophie Bellon, is responsible for the oversight of the company’s global operations and strategic orientations. The team, comprising 12 members, is a cross-functional entity, drawing on expertise and skills from a range of activities and geographic areas. The team is chaired by Sophie Bellon and includes Paul Dimech, who serves as the President of APMEA.

Why is Magic Johnson so rich?

Forbes reports that the basketball player’s fortune is primarily derived from his stake in EquiTrust, an Iowa-based life insurance provider.