Earvin “Magic” Johnson Jr. is a retired American basketball player and entrepreneur with a net worth of $800 million. After winning basketball championships in high school and college, he was selected as the first overall player in the 1979 NBA Draft by the Los Angeles Lakers. Johnson played as point guard for the Lakers for about 20 years. Forbes estimated his net worth to be $1.2 billion in 2024, primarily due to his stakes in professional sports teams and investments in various industries.
Johnson’s wealth is primarily derived from his majority ownership of EquiTrust insurance company, which has reached new heights. Forbes now estimates his net worth to be $1.2 billion, largely due to his stakes in the Los Angeles Lakers and major investments in various industries, including a 60-stake in Iowa-based life insurance company. Johnson’s net worth is estimated to be around $1.2 billion, with most of his wealth stemming from his majority ownership of EquiTrust insurance company.
In addition to his basketball career, Johnson has become the fourth sports star to reach billionaire status, with an estimated net worth of $1.2 billion. In his 29 years in the NBA, he has collected a total salary of $39.3 million. However, Celebrity Net Worth estimates his net worth at approximately $600 million.
In summary, Earvin “Magic” Johnson Jr. is a retired American basketball player and entrepreneur with a net worth of $800 million. His success as a point guard and investments in various industries have contributed to his wealth.
📹 Magic Johnson Bio & Net Worth – Amazing Facts You Need to Know
Complete biography: https://networthpost.com/magic-johnson-net-worth/ World-famous retired American basketball player Earvin …
Does Magic Johnson own all the 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.
How much does Magic Johnson own of the Lakers?
In 1994, Howard Johnson bought a 4. 5-stake in the Los Angeles Lakers for $10 million, which he sold in 2010, before NBA team values soared. His stake in the Lakers was estimated to be worth $29 million in 2010, but today it would be worth over $265 million. Johnson also launched Magic Johnson Theaters with Sony Pictures and established a 50/50 joint venture with Starbucks to open over 100 locations in Black neighborhoods, selling them back for $75 million in profit.
How much is Charles Barkley worth in 2024?
In 2024, Charles Barkley is estimated to have a net worth of approximately $60 million, derived primarily from his basketball career, numerous brand endorsements, and his role as a TV sports analyst, according to Celebrity Net Worth.
How many theaters does Magic Johnson own?
Earvin “Magic” Johnson, a former basketball star with the Los Angeles Lakers, jointly operates three 12-screen Magic Theatres in minority communities, with an average of 3 million to 4 million patrons a year. In May, Johnson agreed to operate a 12-screen theater at a mall being built on the site of the demolished US Airways Arena in Landover, MD. In addition to movie theaters, Johnson owns over 40 Starbucks coffeehouses and Magic Johnson Friday’s restaurants in Atlanta and Los Angeles. In 1994, he purchased 5% of the Los Angeles Lakers basketball team from Jerry Buss, paying $10 million for the stake.
What does Earvin Magic Johnson own?
Magic Johnson, Chairman and CEO of Magic Johnson Enterprises, has joined the Washington Spirit’s investor group at a pivotal time in the club’s history. Johnson, who holds partial ownership in the Washington Commanders, Los Angeles Dodgers, Los Angeles Sparks, Los Angeles FC, and eSports franchise Team Liquid, is known for his groundbreaking partnerships that prioritize ventures serving historically underserved markets and redevelopment in urban communities.
He is excited to join the Washington Spirit’s investor group and play a part in advancing the growth of the club and the NWSL. Johnson’s investment comes at a pivotal moment in the Washington Spirit’s trajectory, underscoring the transformative impact of Michele Kang’s leadership in women’s sports.
What is Magic Johnson’s celebrity net worth?
In 2024, Magic Johnson’s net worth is estimated at $1. 2 billion, primarily derived from his equity interest in EquiTrust, an Iowa-based life insurance provider, as reported by Forbes. Johnson’s achievements as a basketball player and his strategic business partnerships have been instrumental in accumulating his considerable wealth.
Who got more money, Michael Jordan or Magic Johnson?
Magic Johnson, a former NBA player, has a net worth of $70 million compared to NBA legend Michael Jordan’s $100 million. Jordan has become one of the wealthiest athletes in history, with multiple billions in assets and numerous business ventures, including part ownership of an NBA franchise, full ownership of a NASCAR team, and owning his own sportswear brand as an offset of Nike. However, Magic Johnson has taken a different route towards becoming the wealthiest billionaire in NBA history, investing in various sports franchises, including the NWSL Washington Spirit, a stake in the NFL Washington Commanders, an eSports franchise called Team Liquid, and investments in other three teams.
He currently has a stake in the WNBA’s Los Angeles Sparks, co-owns the MLS’ Los Angeles FC, and co-owns the MLB’s Los Angeles Dodgers. In less than five years, Magic Johnson could potentially dethrone Jordan as the wealthiest NBA athlete of all-time.
How much did Magic Johnson make from Starbucks?
In 1995, Johnson acquired an equity stake in a 12-screen multiplex movie theater in Baldwin Hills, now owned by Cinemark. In 1998, he partnered with Starbucks to acquire 125 stores, which were sold in 2010 for $100 million. In 2008, he signed a multi-year marketing deal to help Best Buy boost sales in urban areas. In 2010, he sold his interest in the Los Angeles Lakers for $27 million to Patrick Soon-Shiong.
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”.
How many Burger Kings does Magic Johnson own?
Magic Johnson Enterprises, a subsidiary of his business empire, included numerous locations, including 24 Hour Fitness centers, Starbucks, Burger Kings, movie theaters, malls, and a T. G. I. Friday’s. In 1994, he purchased 4. 5 percent of the Lakers for $10 million and subsequently sold that stake to Patrick Soon-Shiong in 2010.
📹 Magic Johnson Net Worth 2024 | How He Really Got Rich??
In this video, we take a closer look at the life and career of Magic Johnson, the legendary basketball player and entrepreneur.
I still don’t know why Magic did a talk-show?… I still think he could have done a better job had he done it his way…I mean it was new, something challenging but I still think Magic knew how to throw a better party but perhaps he was just trying something new and needed to learn the ropes of the art of doing an actual talk-show?