Magic Johnson Net Worth: On this page, you can find information about Magic Johnson’s net worth, biography, age, wife, height, and weight, among many other things. Magic Johnson, a former professional basketball player from the United States, is estimated to be worth $630 million. I’ll tell you where and how this money came from, but first, let us give you some background on Magic Johnson. Do you realize he took home the gold at the 1992 Olympics? He also joined the All-Star team in 1993 and was named Most Valuable Player.
In 2002, he was admitted into the Basketball Hall of Fame. There must be some of you Starbucks customers. Magic Johnson has 125 Starbucks; did you know that? In addition to Starbucks, he controls 40 to 50 movie theatres. You already know that he once played basketball, so pay attention to the fact that he has also played for the Dodgers. He has long served as a broadcaster for NBC, TNT, and ESPN.
Magic Johnson’s Net Worth
A retired American basketball player and businessman with a $620 million fortune, Earvin “Magic” Johnson Jr. were chosen by the Los Angeles Lakers as the first overall player in the 1979 NBA Draft after winning basketball titles in high school and college. He spent 13 seasons as the Lakers point guard. He captured the NBA Championship and the Most Valuable Player Award in his first season. Johnson served as the Lakers’ previous president of basketball operations.
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Magic Johnson’s Early Years
Magic Johnson was born in Lansing, Michigan, on August 14, 1959. His mother, Christine, worked as a school janitor, while his father, Earvin Sr., was an assembly line worker for General Motors. Magic had a passion for basketball and idolized players like Earl Monroe. Johnson attended Everett High School, where he soon joined the basketball team.
The moniker “Magic” was given to him by a local sportswriter when, at the age of 15, he recorded a triple-double of 36 points, 18 rebounds, and 16 assists. His reputation was cemented when he led his team to the state championship in his senior year. Johnson received offers from every prestigious college but chose to attend Michigan State University rather than travel far from home.
When Indiana State University and their great player Larry Bird were their opponents in the NCAA championship game in 1979, Magic’s team fought them. Their matchup gave rise to one of the biggest rivalries in sports history and became the most-watched college basketball game ever broadcast on television. Following Michigan State’s victory over Indiana, Johnson was voted the Final Four’s Most Outstanding Player.
Magic Johnson’s NBA Career
The Los Angeles Lakers selected Magic as the first overall choice in the 1979 NBA Draft. Magic and his colleague Kareem Abdul-Jabbar led the Lakers to the NBA title in his first season, and Magic was honored as the MVP of the NBA Finals. With the Lakers in 1980, 1982, 1985, 1987, and 1988, Magic won five NBA Championships. In 1980, 1982, and 1987, he won the NBA Finals MVP award three times.
In 1987, 1989, and 1990, he won the NBA Most Valuable Player award three times. He attended the All-Star game 12 times and won the MVP award twice. He is regarded as the best point guard ever to play the position. Magic’s career ended in 1991 after he contracted an HIV infection. Near the conclusion of the 1993–94 NBA season, Magic returned as the Lakers’ head coach. At the request of team owner Jerry Buss, he took the place of Randy Pfund and Bill Bertka.
The Lakers initially performed well under Johnson’s leadership, winning five of their first six games. However, after losing their next five games, Johnson announced that he would be stepping down as coach at the end of the current season. With a ten-game losing run to end the season, Johnson’s final record as head coach was 5-11. He claimed that coaching was never in his plans, so in June 1994, he bought a 5% stake in the organization.
Magic Johnson’s Retirement
To fight HIV, Johnson established the Magic Johnson Foundation after disclosing his condition in November 1991. Along with being an entrepreneur, philanthropist, and broadcaster, Johnson has fought for safe sex and the prevention of HIV/AIDS. His shocking public disclosure of his HIV diagnosis in 1991 helped to shatter the preconceived notion that HIV was a “gay sickness” that heterosexuals didn’t need to be concerned about.
Magic Johnson’s Magic the Businessman
Magic’s retirement has not been a peaceful one. In his retirement, he established the Magic Johnson Enterprises business empire, which is now worth over $1 billion and has earned Magic a personal net worth of $600 million. Magic Johnson Theaters, a movie studio, and a promotional marketing firm are all owned by Magic Johnson Enterprises.
The 5% stake in The Lakers that Magic purchased in 1994 for $10 million was sold to billionaire Patrick Soon-Shiong in 2010 for an estimated $50–60 million. Johnson also sold his Starbucks network for $75 million in 2010. The Los Angeles Dodgers were sold to Magic and a group of partners for $2 billion on March 27, 2012. more details here: For $2 billion, Magic Johnson purchases the Dodgers.
Magic Johnson’s Personal Life
In a low-key ceremony held in Lansing, Michigan, Johnson wed Earlitha “Cookie” Kelly in 1991. Earvin III (EJ) is the couple’s kid, born in 1992, and is openly gay. EJ appeared on Rich Kids of Beverly Hills, a reality TV program. In 1995, Magic and Cookie adopted Elisa as a child. Johnson and his wife split their time between Beverly Hills and Dana Point, California.
In addition, Johnson has a son from a previous union. Andre Johnson was born to Melissa Mitchell in the year 1981. Andre was brought up by his mother, although he visited Johnson every summer and subsequently served as the company’s marketing director.
Magic Johnson’s Highlights of Salary
During his playing career, Magic made slightly over $18 million in salaries and several million dollars in endorsements.
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Magic Johnson’s Real Estate
In the private neighborhood of Beverly Park, Johnson and his wife have a residence. The pair also owns a beach house in Dana Point, Orange County, California, with a Tuscan design. When their children were little, the couple’s residence in Napili, Hawaii, was too far away to get to, so they exchanged it for the beach property around 75 miles south of Beverly Hills.