A look at the business ventures which have sent Magic Johnson's net worth soaring since his retirement from the NBA
Magic Johnson is widely regarded as the greatest point guard in NBA history. The lakers" target="_blank" rel="noopener noreferrer" data-is-sponsored="false">LA Lakers legend has matched his on-court success with several successful business ventures.
Johnson has built a business empire away from the NBA hardwood. In 1990, the LA Lakers' star purchased a bottling operation from Pepsi-Cola Co. But his success in the business world took off following his retirement.
Johnson became a minority owner of the Lakers, buying in for a reported $10 million in 1994. The following year, the NBA Hall of Famer launched Magic Johnson Enterprises. He invested in multiple businesses through this company.
Johnson previously owned 105 Starbucks, four Magic Johnson Theaters, thirteen 24-Hour Fitness gyms, and 31 Burger Kings. Additionally, Johnson owned several T.G.I. Friday restaurants. He also launched the Magic Card, a pre-paid Mastercard aimed at assisting those with low incomes.
Magic Johnson Enterprises is currently valued at over $1 billion. Johnson's personal net worth sits at an estimated $620 million. Furthermore, the Lakers star has set the blueprint for athletes developing wealth.
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Magic Johnson labels his 'Showtime' LA Lakers among the greatest teams of all-time
The 'Showtime' LA Lakers, led by Magic Johnson, are widely considered to be one of the greatest teams in NBA history. The five-time NBA champion believes those Lakers teams can beat any team that has ever existed.
Speaking with Shannon Sharpe on the 'Club Shay Shay' podcast, Johnson said:
"We're definitely one of the greatest teams ever because we had everything, we could do everything. When you got a guy like Kareem that can dominate inside, right? James Worthy, oh man."
"Then you got the shooters in Byron Scott, Michael Cooper, and we had the defensive mentality as well. We can defend you and then get out and run."
"We can score inside, outside and on the break. That's hard to defend. And, we had the coach because Pat Riley is to me the best coach that's ever lived. He could make in-game adjustments that were critical and he motivated you. So this man could take us and we could play against anybody and win."
The 'Showtime' Lakers dominated the 1980s. They won five NBA titles in the decade. Their first championship was during Magic Johnson's rookie season. The Lakers made nine NBA Finals appearances in the three-time MVP's tenure with the franchise.
Watch Magic discuss the 'Showtime' Lakers below (starting at the 9:05 mark):