Magic Johnson is no stranger to dropping dimes on the court, but his business acumen is another story entirely. Now a certified billionaire, he has joined the ranks of Jordan and LeBron as the only ballers to be named in the comma club.
However, Magic’s hustle goes well beyond the basketball court. He has been a very active entrepreneur since his retirement and has got his fingers in a lot of pies, and sports teams in the biggest leagues have been a particular sweet spot for him.
How many teams does Magic Johnson Enterprises own?
During his illustrious NBA career, Magic Johnson ventured into the world of entrepreneurship and established Magic Johnson Enterprises (MJE) in 1988. Following his retirement from the NBA in 1996, Johnson shifted his complete focus towards his investment company, making astute financial decisions that have propelled him to billionaire status in the present day.
Magic Johnson Enterprises boasts a diverse portfolio encompassing a multitude of industries, ranging from the captivating realm of entertainment to the dynamic spheres of media and sports.
Johnson’s company boasts an impressive portfolio, encompassing a staggering 40+ businesses, and has forged strong connections with some of the most renowned brands on the global stage.
Talking about the sports industry, Magic Johnson Enterprises has been involved with some of the biggest professional sports teams in the world. MJE owns a total of five teams in different sports and leagues; they own a minority share of the Washington Commanders in the NFL. They also own the MLB’s Los Angeles Dodgers, the Los Angeles Sparks in the WNBA, and the MLS’s Los Angeles FC. Magic recently revealed the return of his son to help the MJE with its plans for the future.
Magic Johnson welcomes son Andre Johnson back into family business
NBA legend Magic Johnson recently welcomed back his son Andre Johnson to help with the expansion of his investment company, Magic Johnson Enterprises. The Boardroom covered Johnson’s announcement in an Instagram post. Johnson reported that his reason for calling his son back was to “help facilitate our expansion into new industries and work with our existing partners.” Andre Johnson has a good track record at MJE and has helped a lot with the growth of the company.
Andre first joined MJE in 2004, assuming the position of Vice President for Business Development. He played a pivotal role in spearheading the company’s growth into various industries, such as media, technology, and entertainment, under his father’s guidance.
In 2017, he departed from MJE. Canyon Johnson, a prominent global investment firm, enlisted the expertise of Andre to spearhead their foray into untapped markets and oversee a diverse range of investments across multiple industries.
With his return to MJE, he will assume the position of Executive Vice President, overseeing the strategic growth plan and development activities of the organization.
Were you aware that any of the aforementioned sports franchises were owned by MJE? What are your thoughts on Andre Johnson’s comeback? Please share your thoughts in the comments section provided below.
