Born on August 14, 1959, Earvin “Magic” Johnson Jr. is a former American retired basketball player and the former president of basketball operations of the Los Angeles Lakers who play in the National Basketball Association (NBA). He is also a successful entrepreneur, philanthropist, broadcaster, and motivational speaker. An extremely talented point guard, he won the NBA Finals Most Valuable Player Award in his rookie season. He was the first overall pick of the Los Angeles Lakers in the 1979 NBA Draft, and he spent a total of 13 seasons with the Lakers and won five NBA championships with them. In his entire career, he has scored 17,707 points and recorded 10,141 assists, 6,559 rebounds, and 1,824 steals. He holds the record for being the NBA’s all-time leader in assists per game - 11.2, something which hasn’t been broken to this date.
Johnson is a major investor in the MLB franchise Los Angeles Dodgers and the WNBA franchise Los Angeles Sparks. He was also a part owner of the Lakers for several years before he sold his stocks.
| Name | Earvin “Magic” Johnson Jr. |
| Net Worth | Approximately $1.2 billion |
| Age | 64 years (born August 14, 1959) |
| Residence | Beverly Hills, California |
| Position | Point guard |
| Marital Status | Married |
| Source of Wealth | Basketball, Investments, and Business Ventures |
| Salary | Earned $39.3 million during NBA Career |
| Endorsements | Starbucks, 24Hour Fitness, T.G.I. Fridays, AMC Theatres |
Magic Johnson’s Net Worth in 2024?
Magic Johnson has an estimated net worth of $1.2 billion. In his 29 years in the NBA, he has collected a total salary of $39.3 million, including executive and contract responsibilities. He has a good deal of wealth via his stakes in the wildly successful MLB team LA Dodgers, and he makes a nice wage as the Lakers' President of Basketball Operations. He is also a great entrepreneur and has made millions from his business deals.
Johnson became the fourth to join the billionaire athletes club, after Michael Jordan, LeBron James, and Tiger Woods. Earlier in 2023, he added a stake of 2.3% in the NFL team Washington Commanders. His 60% investment in the life insurance company EquiTrust is what boosts his net worth the most. He also has ventured with Starbucks to open cafes in Black neighborhoods.
Magic Johnson Salary
Magic Johnson earned a total of $39.3 million from his NBA Contracts which included a 25-year $25 million contract. His fortune was made through savvy investing. He also earned a significant amount during his reign as head of basketball operations of the Lakers.
Magic Johnson Endorsements
The five-time NBA Champion of the Los Angeles Lakers had links with AMC Theatres, 24-Hour Fitness, T.G.I. Fridays, and Starbucks. He reportedly owned 105 Starbucks locations and a 4.5% ownership position in the Los Angeles Lakers. However, he reportedly sold both of them for $100 million. Johnson earns $22 million annually and is ranked fifth on Forbes' list of the highest-paid athletes. He is a significant shareholder in both the WNBA Los Angeles Sparks and the MLB Los Angeles Dodgers. Before selling his stocks, he spent some time as a Lakers’ shareholder.
Magic Johnson Investments
He has had partnerships previously with Starbucks, 24 Hour Fitness, T.G.I Fridays, and AMC Theatres. He is known to have owned 105 Starbucks outlets and a 4.5% stake in the Lakers. However, he sold both of them for a reported $100 million. He launched a business empire called Magic Johnson Enterprises which is valued at over $1 billion. Magic has always been involved in LA sports. He has invested in the LA Dodgers MLB Team, the LA Sparks WNBA Team, the LAFC MLS Team and the NFL team Washington Commanders.
Magic Johnson Other Sources of Income
Magic Johnson is also appointed as the Lakers' President of Basketball Operations from where he earns a respectable income. Apart from this, he himself owns the American investment company The Magic Johnson Enterprises and the Enterprises has consistently invested ownership in a variety of successful businesses all through the years, including the Los Angeles Lakers, American movie theaters, and restaurants.
Magic Johnson House
The Hall of Famer owns a residence in Beverly Hills in the gated section known as Beverly Park. He also owns a Tuscan-style beach house in Dana Point in Orange County, California. The couple used to own a house in Napili, Hawaii, but it was too far to get to when their children were growing up so they swapped it for the beach house located about 75 miles south of Beverly Hills.
Plus, Magic Johnson also owns a Foundation which is a charitable organization that focuses on raising awareness of and aiding those affected by HIV/AIDS.
Magic Johnson Cars
The two-time NBA champion and multiple-time NBA All-Star has a collection of Ferrari and BMW cars, in addition, he also has a private plane and a house in Beverly Hills.
Magic Johnson Charity Work
Magic Johnson started the Magic Johnson Foundation in 1991 which develops, programs, and supports community-based organizations that address the educational, health, and social needs of ethnically diverse, urban communities. Eliminating negative cultural barriers, Advancing economic and social equality by engaging minorities in every aspect of their communities, Increasing academic and innovative achievement,
Raising AIDS/HIV awareness, treatment and prevention, and Creating positive emerging leaders are some things they aim to do.
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