Magic Johnson’s Net Worth
Earvin “Magic” Johnson is probably the smartest basketball player of all time. And among the most talented. He expressed the joy of the game like no other. His smile after a no-look pass or after a basket from a long distance or after an individual action that no one thought about impressed even the fiercest rivals. Because there was nothing defiant about that smile. It was just the happiness of doing what he loved with a passion. With the LA Lakers and the American Dream Team, at the 1992 Olympics, in every moment of his career Earvin “Magic” Johnson was simply magic.
What is Magic Johnson’s net worth?
Earvin “Magic” Johnson, one of the giants of the world of basketball, has a net worth of $620 million at the time this article is written.
Highlights of an amazing career
1959 – on August 14, Earvin “Magic” Johnson was born in Lansing (Michigan) in a Christian family with 9 children
1974 – achieves a triple-double (36 points, 18 rebounds, 16 assists) in his sophomore season at Everett High School and is nicknamed “Magic”, despite the refusal of his mother, who considered it sacrilege
1979 – propels Michigan State to college title after success with Larry Bird-led Indiana; Johnson was the first pick in the draft by the LA Lakers
1980 – scores the decisive basket in the sixth game of the NBA Finals with the Philadelphia Sixers. In the absence of Kareem Abdul-Jabbar, Magic, still a rookie, played the pivot, achieving a match to put in the frame (42 points, 15 rebounds, 7 assists) and being declared the MVP of the final. Performance never repeated by a rookie.
1982 – wins his second NBA title and his second Finals MVP title after another success against the Philadelphia team
1983 – lost with the Lakers to the Boston Celtics and Larry Bird
1987 – elected MVP of the season in the premiere; the 4th title, after the one in 1985
1988 – the last NBA title and named the best player of the entire season for the second time
1991 – beaten in the finals by the Detroit Pistons in the previous season, the Lakers are dominated in the last act by Michael Jordan and the Chicago Bulls; he withdraws after announcing that he is ill
1992 – returns to the All-Star Game, then plays with the Dream Team at the Barcelona Olympics; he is the captain and conquers the supreme title
1994 – ensures the interim on the bench of LA Lakers towards the end of the season; becomes a minority shareholder in the Lakers, buying 5 percent of the club’s shares
1995 – creates Magic Johnson Enterprises
1996 – the last games for the Lakers
1999 – opens the first cinema in Crenshaw, a notorious neighborhood on the outskirts of Los Angeles; appointed UN Peace Ambassador
2007 – supports Hilary Clinton in the duel with Barack Obama for the election of the Democratic candidate for the US presidency
2010 – opens the first multiplex in Harlem, New York
Salary highlights
Magic Johnson made more than $18 million in salary during his playing career. Also, he made several millions from various endorsements.
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Retirement
Full of optimism, Magic Johnson faced the news that he was suffering from AIDS in 1991, at only 31 years old. And he didn’t survive only four or five years, as the gloomy voices predicted. Decades later, full of life, turned into a successful entrepreneur running billion-dollar businesses.
He then used his notoriety to convince the world to protect themselves against the risks of HIV contamination.
Businesses
When he retired, Magic Johnson launched a business empire named Magic Johnson Enterprises which at this moment is valued at more than $1 billion. This has given Johnson a personal net worth of $600 million. His business empire owns a promotional marketing company and a movie studio called Magic Johnson Theaters.
In 1994 Magic Johnson purchased 5% of the Laker for $10 million. Though, in 2010 he sold it to Patrick Soon-Shiong for the sum of $50 million to $60 million.
Also, in 2010, Magic Johnson sold his Starbucks chain stock for $75 million.
In 2012 Magic together with a group of partners paid $2 billion to Frank McCourt for The Los Angeles Dodgers.
Real estate
Magic Johnson and his wife have several properties around the United States of America, including a beach house located around 75 miles south of Beverly Hills, a house in the gated section of Beverly Park, in Beverly Hills, and a beach house located in Dana Point in Orange County, California.
Personal life
In 1991 Magic Johnson married Earlitha “Cookie” Kelly in a restricted ceremony in Lansing, Michigan. In 1992 they welcomed their first and only son, Earvin III (EJ).
In 1995 the couple adopted their daughter Elisa.
Magic Johnson also has a son, Andre Johnson born in 1981, from a former relationship with Mellisa Mitchel.
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