This article contains Magic Johnson‘s net worth, biography, age, wife, height, weight, and many more facts. On the whole, Magic Johnson has an estimated fortune of $600m. I’ll tell you where the money came from, but first, a little background on Mr Johnson. Did you know he was an Olympic gold medalist in 1992? As a member of the All-Star squad in 1993, he was also named Most Valuable Player. He used to be the head coach of the Los Angeles Lakers at one point.
From 1994 through 2010, he had a 10% stake in the Los Angeles Lakers, demonstrating the closeness of his ties to the team. He also carries a prepaid MasterCard in his name, which few of you are aware of.
As we have previously said, his net worth is in the six-figures. Basketball only brought in around $100 million in revenue for him. The remainder of his earnings were derived through his entrepreneurial endeavors. His post-basketball firm Magic Johnson Enterprise is valued at roughly $1.2 billion in 2021. There are numerous promotional marketing businesses that fall under this company’s umbrella. That’s all for now; stay tuned to learn more about the lives of more famous people like Magic Johnson.
Former American basketball player and businessman Earvin Magic Johnson Jr. is worth $620 million. Having won high school and collegiate basketball titles, Los Angeles Lakers drafted him first overall in the NBA Draft in 1979. He spent 13 seasons as a point guard with the Los Angeles Lakers. In his debut year, he was the most valuable player in the NBA Finals and won the championship. Johnson formerly served as the Lakers’ executive vice president of basketball operations.
The Life Story of Magic Johnson
On August 14, 1959, Mr Johnson was born in Michigan. In addition to his parents, he had ten brothers and a sister. To support such a big family, his parents both worked. He was known as “Magic” in high school because of his basketball prowess as a youth. He got selected into the NBA while still a college student after starting college on a basketball scholarship. The Golden Age of the Los Angeles Lakers refers to Magic Johnson‘s era with the Lakers.
In 1991, he announced his retirement from the sport. As of this year, he has admitted that he has HIV. Until then, it was widely thought that persons with HIV couldn’t expect to live long, but Magic Johnson‘s magic ensures that even after 30 years of being HIV positive, he’s in excellent health. Mr Johnson has worked tirelessly for 30 years to dispel the myth that this sickness mainly affects homosexuals and drug addicts.
As a Child
Magic Johnson was born in Lansing, Michigan, on August 14, 1959. Christine was a school janitor and his father Earvin Sr. worked on a General Motors assembly line. Magic developed a liking for basketball at a young age, inspired by the likes of Earl Monroe, who he idolized. When Johnson was a freshman at Everett High School in Washington, he jumped at the opportunity to join the basketball team. When he recorded a triple-double with 36 points, 18 rebounds, and 16 assists at the age of 15, a local columnist dubbed him “Magic.” That year he guided his team to a state title and earned the nickname.
Johnson was offered admission to every prestigious university in the country, but he chose to attend Michigan State University instead since it was closer to home. During the 1979 NCAA finals, Magic guided his team to a victory against Indiana State University and Larry Bird. It was the most-watched college basketball game ever broadcast, and it started one of the greatest rivalries in sporting history. Johnson was voted the Final Four’s Most Outstanding Player after the Wolverines defeated Indiana.
In the NBA
The Los Angeles Lakers selected Magic in the first round of the 1979 NBA draught. After leading the Lakers to the NBA Finals in his first season, Magic was awarded MVP of the NBA Finals and Kareem Abdul-Jabbar won the title with him. The years 1980, 1982, 1985, 1987, and 1988 saw Magic Johnson win five NBA championships with the Los Angeles Lakers. In 1980, 1982, and 1987, he won the NBA Finals MVP award three times in a row. In 1987, 1989, and 1990, he won the NBA’s Most Valuable Player award three times in a row. He made the All-Star team 12 times and was named MVP twice. He is widely regarded as one of the best point guards in NBA history.
The HIV Infection He Contracted in 1991 Ended Magic’s Career
The Lakers hired Magic as their head coach during the close of the 1993-94 season, and he made a triumphant comeback to the NBA. After Jerry Buss asked him to replace Randy Pfund and Bill Bertka, he accepted After winning five of their first six games under Johnson’s guidance, the Lakers announced that Johnson will step down as coach at the end of the season. In his last season as head coach of the Lakers, Johnson’s team went 10 games without a win. To avoid becoming the squad’s full-time coach, he instead invested in the team by purchasing a 5% stake in the company in June 1994.
Magic Johnson tried a return as a player in the 1995-96 season, when he rejoined the Lakers as a 36-year-old. During Johnson’s time with the Lakers, they went 22–10, and he considered his last comeback a success. First-round playoff defeat against the Houston Rockets prompted Johnson to announce his retirement.
A career average of 19.5 points per game, 7.2 rebounds per game, and 11.2 assists per game ranks Johnson as one of the greatest point guards in NBA history, with a total of 17,707 points and 6,559 rebounds. A single-game playoff record of 24 assists is shared by Johnson, who also owns the Finals mark most assists in a game (21). (2,346). he is the only player in NBA Finals history to have averaged 12 assists per game six times. To his credit, he is the All-Star Game’s all-time assist leader (22) and the All-Star Game’s all-time assist leader (22). (127).
Retirement of Magic Johnson
Johnson started the Magic Johnson Foundation to assist fight HIV after revealing his condition in November 1991. Johnson has worked as a businessman, philanthropist, and broadcaster in addition to advocating for HIV/AIDS prevention and safe sex. When he announced in 1991 that he was HIV-positive, it stunned the world and dispelled the notion that HIV was a sickness that only homosexual people had to worry about.
The Entrepreneurial Magician
Magic hasn’t had a peaceful retirement. A billion-dollar company named Magic Johnson Enterprises was founded by him after retirement. This has earned Magic Johnson a personal fortune of $600 million. Magic Johnson Enterprises owns Mr Johnson Theaters, a film studio, and a promotional marketing organization. It was in 1994 when Magic spent $10 million to acquire 5% of the Los Angeles Lakers, which he sold for $50-60 million in 2010. Johnson sold his Starbucks franchise in 2010 for $75 million.
Los Angeles Dodgers owner Frank McCourt sold the team to Magic Johnson and a group of investors for $2 billion on March 27, 2012.
Life at Home
A modest wedding was held in Lansing, Michigan, in 1991 for Johnson and Earlitha “Cookie” Kelly. Earvin III (EJ), the couple’s son born in 1992, came out as homosexual. Rich Kids of Beverly Hills is a reality program in which EJ featured. Elisa was adopted by Magic and Cookie in 1995. Johnson and his wife have homes in Dana Point and Beverly Hills, California.
There’s also a child from a previous relationship for Johnson. Andre Johnson was born in 1981 to Melissa Mitchell and her husband, Michael Johnson. Even though Andre was raised solely by his mother, he spent every summer with Magic Johnson, who ultimately hired him as a marketing director for his company.
Highlights of Salary
Magic Johnson made about $18 million in salaries and endorsements throughout his playing career.
Property of Magic Johnson
Beverly Park is a private gated community in Beverly Hills where Johnson and his wife own a property. The pair also own a beach home in Dana Point, California, built in the Tuscan style. To make it easier for the couple’s children to go to their former home in Napili, Hawaii, they traded it for a beach property approximately 75 miles south of Beverly Hills.