Magic Johnson Officially Declared Billionaire By Forbes, Becoming Fourth Athlete To Reach Groundbreaking Milestone
Magic Johnson just added some Bs to his bank account!
According to Forbes, basketball icon Magic Johnson has joined Michael Jordan, Tiger Woods, and LeBron James in The Billionaire Boys Club.
Reportedly, Magic Johnson’s net worth is an estimated $1.2 billion, and his newfound ranking makes him the fourth-ever professional athlete to hit the landmark.
Although the former Los Angeles Lakers player had quite the NBA run, with an illustrious career that has since deemed him ‘the greatest point guard of all time,’ Johnson’s post-court endeavors are what catapulted him to boss status.
The 64-year-old is known for his long list of major business moves.
Following his retirement from basketball — due to an unfortunate HIV diagnosis in 1991 — it wasn’t long before Johnson became a world-renowned tycoon.
In the latter part of the 1990s, leading into the 2000s, he launched his own production studio (Magic Johnson Entertainment) and record company (Magic Johnson Music), which was in conjunction with MC Records. Singer Avant was the label’s first act on the roster.
From there, he launched numerous subsidiaries through Magic Johnson Enterprises, which is what his famous chain of movie theatres was constructed under. Other ventures of Johnson’s included a food service and TV network (Aspire).
Additionally, the Michigan native is recognized for owning stakes in the NFL’s Washington Commanders, along with California-based sports franchises WNBA’s Los Angeles Sparks, MLB’s Los Angeles Dodgers, and the MLS’ LAFC.
His previously-inked deals with PepsiCo, Starbucks, and insurance giant EquiTrust also paved the way for the legendary entrepreneur’s uber-successful conglomerate.
Selected as the Los Angeles Lakers’ first overall pick in the 1979 NBA draft, Johnson went on to play thirteen seasons with the noteworthy team.
Throughout his time with the league, he led the team to five championships during their Showtime stint. Johnson holds three MVP Awards and three finals MVP awards, among a list of other achievements that will forever go down in the history of the sport.
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