Magic Johnson is one of the greatest basketball players to ever play the game. Widely regarded as the best point guard to ever step onto an NBA court, he made his debut almost 44 years ago. Magic made a big name for himself during his playing career and is counted among the legends of the game, such as Michael Jordan and Larry Bird.
Johnson has topped many lists related to the sport and has been featured in them. After retiring, he showed the world his strong business acumen and has now joined an exclusive list that only a few athletes have made in their lifetime, alongside Michael Jordan and LeBron James.
Magic Johnson joins bilionaire club
Magic Johnson has joined the billionaire club alongside Michael Jordan and the Los Angeles Lakers star LeBron James. Forbes announced the news on their official X account and welcomed the NBA legend into the club. Johnson has achieved this feat because of his exceptional abilities as a businessman off the basketball court.
Forbes estimated his net worth to be around $1.2 billion, making him only the fourth athlete to reach this milestone. Johnson has been wisely investing his money for years, and the returns he has garnered during that time have elevated his net worth to the next level. He has shrewdly capitalized on his fame and status as a celebrity to attract investors and partners, which, in turn, has helped him create a multi-billion dollar empire.
Magic Johnson career earning
Out of his 1.2 billion dollar net worth, he has only earned a fraction of it from his time in the NBA. During his 31-season-long career Magic Johnson has earned an estimated $39.3 million from his contracts and deals in the NBA. The rest of his net worth comes from his endorsement deals and business investments.
Johnson’s wealth comes from various sources. He has endorsement deals with Coca-Cola, McDonald’s, and State Farm. Additionally, he owns stakes in sports teams such as the Los Angeles Lakers and Los Angeles Dodgers. He is a stakeholder in an insurance company called EquiTrust, and he also has investments in restaurants, retail, and other businesses. Magic is a smart and savvy businessman whose wise decisions and past investments have been quite lucrative.
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