Magic Johnson becomes 3rd NBA player to reach $1,000,000,000 in latest Forbes estimate

NBA legend Magic Johnson recently joined Michael Jordan and LeBron James as the only basketball players to become billionaires.

In a recent Forbes estimate, the former LA Lakers point guard's net worth has been estimated at around $1.2 billion, making him the fourth athlete to do so.

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Johnson became famous during his days with the Lakers, as he collected titles and won MVP awards. He also made several All-Star appearances, 12 to be exact. Following his career in the NBA, he invested in several investments, which increased his earnings and net worth through the years.

Forbes reported that Magic only made $40 million as an active athlete. Thus, his smart financial moves have made him a billionaire through the years. The five-time champion has ownership stakes with the other Los Angeles-based teams.

Johnson owns a stake with the WNBA's LA Sparks, MLB's LA Dodgers, and MLS' LAFC. According to sources, Johnson has invested in the Washington Commanders this 2023.

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When it comes to shoe deals, Johnson didn't hit the jackpot, unlike the other stars. He didn't accept the offer that Nike gave him, which was "$1 for each shoe they sold, as well as 100,000 shares in stocks at $0.18 per share." Ultimately, Magic went to sign with Converse, who offered him $100,000 a year.

That decision slowed down the process of him becoming a billionaire, but he still managed to be at the top.

You might also be interested in reading this: "LeBron said it's your team": Magic Johnson issues ultimatum to Lakers' $270 million star Anthony Davis

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Magic Johnson isn't that much worried with the Lakers

The season started great, for most teams. The Lakers, meanwhile, started their season with a loss against the Denver Nuggets.

The team was able to join the others in the win column in their second game against the Phoenix Suns. Given the performances of the players, fans couldn't help but worry about their season. But not Magic Johnson.

After their first game, which resulted in a loss, Magic posted on X (formerly Twitter) about how he isn't worried about it. The 1992 Dream Team member reminded fans that it was only the first game of the season, and there were other chances for the team to redeem themselves.

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"Laker Nation, I’m not at all concerned about our Lakers losing to the Nuggets last night." Johnson posted. "With 8 new players it will take at least 2 months for them to really learn how to play with each other and understand their roles. I’m looking forward to seeing how the Lakers will look starting in January!"

The team won their second game, but there are still a ton of areas they need to improve to have a major impact this season.

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