Earvin “Magic” Johnson Jr., a former NBA star and current president of the LA Lakers, is a household name in the United States. He is widely regarded as being one of the finest players in NBA history and as being among the top point guards in the game’s rich history. Similarly, he has played in twelve All-Star Games and been nominated for ten All-NBA First or Second Team spots throughout his career, in addition to winning three NBA Most Valuable Player Awards.
The market value of Magic Johnson within the year 2023 is about $620 million. Not only did Johnson have a prosperous basketball career, but he also accomplished a great deal in other areas of his life.
Early Life
Lansing, Michigan, U.S.A. is the birthplace of Magic Johnson as he entered this world on the 14th day of August 1959. He was born to Earvin Sr., an assembly worker at General Motors, and Christine Johnson, a school cleaner. No one knows the names of his six known siblings or three half-siblings. Both of his parents had athletic backgrounds in which playing basketball was part of their high school life.
Even though Magic is of African American descent, he is American. Magic, a devout Christian, earned the nickname “Magic” during his sophomore days at Everett High School after he netted 36 points, pulled down 18 rebounds, and threw out 16 assists in a game. He was in his 15th year of age at the time. For his studies in communication, he attended college.
Personal Life
Melissa Mitchell gave him a son, but unfortunately, they were not on good terms after the former gave birth. In 1991, they tied the knot, and he began calling her “Cookie.” The couple raised two children, a son from their own DNA and an adopted daughter.
He disclosed his HIV status in late 1991. Every day he takes a cocktail of medications as a preventive measure for the progression of his HIV infection into AIDS.
Career
Knowing this athlete’s journey, we will be able to see how much is Magic Johnson worth.
1979
During this play-off, he was voted the Lakers’ MVP. In light of his early season success, the Lakers offered him a 25-year, $25 million contract.
1981 – 1982
This year was the breakout year for Magic Johnson. He made the All-NBA Second Team after averaging 18.6 ppg, 9.6 RPG, 9.5 APG, and 2.7 steals per game.
1986 – 1987
He averaged 23.9 points, 12.2 assists, and 6.3 boards in 1986–1987. This season, officially, has been his best ever. And in the 1987 NBA Finals, Johnson made the winning shot and ended up being awarded the series’ most valuable player.
1988 – 1989
And the years that followed were even more fruitful for him. He ended up scoring 22.5 points and handed out 12.8 assists, and grabbed 7.9 rebounds per game in this year’s NBA series. Although the NBA Playoffs and Finals were held twice in 1989, Johnson did not participate because of an injured ankle. The Pistons beat his team, which led to a loss for him.
1991
Magic Johnson discovered that he was positive for HIV in 1991. His life would surely be different because of it. He made a public announcement about the reason for his leaving and it is because of cancer. The United States Olympic Committee chose him to participate in the tournament despite the fact that he had already retired. The squad finished with a perfect 8-0 record, earning them the gold medal.
1993 – 1994
He spent his retirement years publishing books and running a few different companies. He also ensured that people could engage in sex without fear of harm coming to themselves or others. However, he returned to the league as a coach with the Lakers at the close of the 1993-94 NBA season.
1995 – 1996
Within the first few games of his new profession, the squad then proceeded on an example of this losing skid, which ultimately led to his resignation. He returned to active duty as a player for the Lakers for the 1995–1996 NBA season. On the last day of February, he led the Atlanta Hawks in scoring with 15 points and added 10 rebounds in a losing effort.
Johnson added 13 boards and 13 assists to his stat line. He averaged 14.6 baskets per game, 7.9 assists, and 5.8 rebounds this game period. In the wake of the season’s conclusion, this well-known basketball player made the decision to permanently retire from his profession.
Awards and Achievements
- For his performance in the 1979 NCAA Men’s Division I Basketball Tournament, he was awarded Most Valuable Player honors.
- In three separate years, he was named the game’s most valuable player. (1987, 1989, 1990).
- The J. Walter Kennedy Award for Citizenship was presented to him in 1992.
- Johnson was named among the 1996 list of the greatest 50 players in the NBA ever.
Retirement
After publicly announcing his diagnosis with HIV in November 1991, Johnson immediately set up the Magic Johnson Foundation to aid in the fight against the illness. Johnson has worked on a number of fronts, including promoting safe sexual practices and HIV awareness.
He has also been in the business world, helped those without financial resources, and been featured in the media for these actions. His public admission of HIV status in 1991 astonished many and contributed to dispelling the myth that HIV was only a “gay sickness” that did not affect heterosexuals.
Politics
In the United States of America, Magic Johnson votes for the Democratic Party. He backed Democratic presidential contenders Hillary Clinton and Barack Obama.
Philanthropic work
In 1991, Magic Johnson learned that he had HIV. To aid those living with HIV, he established the Magic Johnson Foundation. In addition, he spearheaded the charity event “A Midsummer Night’s Magic,” which takes place annually. The money made was given to the United Negro College Fund.
Books
In his book, Magic Johnson discusses how to have a sexual encounter without being hurt. You can also check out My Life (1992) and 32 Strategies for Legal Success (1996). He co-wrote a book on their legal adventures with Larry Bird in 2009 titled “When the Game was Ours.”
Olympic Games
Team USA was Magic Johnson’s Olympic competition team in 1992.
Magic Johnson’s Net Worth
Earvin “Magic” Johnson Jr., an ex-basketball player who is now a businessman, is worth an estimated $620 million. Basketball was his ticket to glory throughout his academic career. It was the Los Angeles Lakers who made the smart move in picking him first overall in the NBA Draft in the year 1979.
He served as the Lakers’ point guard for 13 seasons, and he did a great job at that time. At the outset, in his rookie year, he won the NBA title and MVP honors. Former Lakers basketball operations head Johnson.
Which Properties Does Magic Johnson Own?
On the order of ten, Magic Johnson had real estate holdings. However, he parted with 100 million dollars after selling 4.5 percent of the NBA team and 105 Starbucks franchises. The remaining properties are estimated to be worth about $700.0 million.
What Food Businesses does Magic Johnson Possess?
In other words, Magic Johnson’s influence extends beyond his teams. Some of the restaurants and eateries he owns are Burger King, TGI Fridays, and a number of others. He pulls in $20 million a year, on average, from this source.
In addition to the businesses, Magic Johnson has also developed a MasterCard called the Magic Card for low-income people to use in the online marketplace. He also started a catering business in 2006.
What is it Exactly That Magic Johnson Does for a Living?
The business ventures of Magic Johnson are the primary source of his wealth. The list of his talents goes on and on: philanthropist, showman, host, actor, sports commentator. On top of that, Magic Johnson is extremely well-known online. The sky’s the limit for his financial success from here on out.
As an NBA analyst, former player Magic Johnson earns almost $39 million annually. His career spanned decades with the LA Lakers, achieving much success. However, that is beginning to change. Magic Johnson is currently a thriving businessman.
Multibillion-Dollar Investments by Magic Johnson Enterprises
A PepsiCo bottling factory, the biggest group bottling business in the country, was reportedly Magic Johnson’s first investment. Magic Johnson Enterprises has amassed quite a few assets over the years, including a 60% stake in EquiTrust Life Insurance Companies, currently worth about $14.5 billion.
Over the years, the company has invested heavily in a wide variety of successful ventures, including theaters and restaurants around the United States, including LA Lakers, Sodexo, a large number of Burger King outlets, and T.G.I. Friday.
Frequently Asked Questions:
Q: How much did Magic Johnson earn from his endorsement deal with Converse?
Although Nike offered him shares, Magic Johnson chose to take $100,000 from Converse instead. The story of how a Lakers icon seriously dropped the ball on a bag that is now worth $5.2 billion. Magic Johnson has a net worth of $600 million at the moment but had he chosen a different path in his professional life, he could have amassed roughly ten times that amount.
Q: Is Magic Johnson a Laker’s shareholder?
2010 saw the sale of a Lakers share that Magic Johnson had purchased. He invested almost $10 million in June 1994 to acquire a 4.5 percent share in the Lakers. Nearly twenty years later, he sold his share to a billionaire who had been a Laker’s season ticket holder for the previous quarter century.
Q: What factors led to the end of Magic Johnson’s career?
After declaring his retirement in November 1991 due to his HIV positivity, Los Angeles Lakers star Magic Johnson attempted a comeback during training camp the following year.
Final Words
Magic Johnson, a former NBA star from the United States, is widely considered one of the sport’s all-time greats. During the 1980s, Johnson was widely regarded as one of the greatest athletes in the world thanks to his formidable combination of strength in the arm, speed, and agility.
In July of 2023, analysts predicted that Magic Johnson would have a net worth of $620 million.