What is Magic Johnson Net Worth?
Magic Johnson Net Worth is US$ 620 Million as of 2022.
|Net Worth||US$ 620 Million|
|Born:||August 14, 1959|
|Country of Origin||United States of America|
|Source of Wealth||Talk Show Host, Actor, Basketball Coach, Basketball Player, Film Producer, Television Producer, Athlete, Entrepreneur|
|Spouse||Cookie Johnson (m. 1991)|
|Famous For||“Magic” Playmaking and Passing Skills|
Table of Contents
Magic Johnson’s net worth was estimated at US$ 620 million as of October 2022.
One of the wealthiest athletes in the world as of October 2022, Magic Johnson has a net worth of about US$ 620 million. American basketball player Magic Johnson, who spent 13 seasons with the Lakers, was selected to the NBA 75th Anniversary Team in 2021. He was named one of the NBA’s 50 All-Time Great Players in 1996.
He won the NBA Championship and the NBA Finals Highly Valuable Player awards in his first season. He was a well-known point guard throughout history and the former NBA basketball operations director of the Los Angeles Lakers.
One of the seven kids of Earvin Sr. and Christine, Magic Earvin was born on August 14, 1959, in Lansing, Michigan. His mother was a janitor, while his father was an assembly line worker at General Motors.
Johnson liked basketball as a child and looked up to greats likes Earl Monroe and Bill Russell. Johnson’s father, who played basketball in high school in Mississippi, taught him the more intricate details of the sport.
Johnson went to Everett High School, where he quickly joined the basketball squad. At the young age of 15, he had a triple-double with 36 points, 16 assists, and 18 rebounds helping his team win the state championship.
He was a member of the 1977 McDonald’s All-American squad and one of the greatest basketball players to come out of the school. Out of a wide range of university offers, including UCLA and Indiana, he picked Michigan State University.
Magic led his squad to the NCAA championship game in 1979, where they defeated Indiana State University. Larry Bird, one of their top players, had to confront Magic and his club.
When Michigan State beat Indiana in their basketball tournament, it was the most viewed collegiate game on television ever. Magic Johnson was also named the Final Four’s Most Outstanding Player. Due to his success that season, he was then selected for the All-American team. Before declaring for the NBA draught, he played for two years in college.
The Los Angeles Lakers chosen Johnson first overall in the 1979 NBA Draft. He ultimately agreed to a US$ 25 million, 25-year agreement with the Lakers. In the 1981–82 season, Johnson excelled, averaging 18.6 points, 9.6 rebounds, 9.5 assists, as well as a league-high 2.7 steals per game.
He led the Lakers to the 1985 NBA Finals while averaging 18.3 points, 12.6 assists, as well as 6.2 rebounds per game during the regular season in 1984–85.
Over the following several years, he maintained his excellent form, averaging 22.5 points, 12.8 assists, as well as 7.9 rebounds each game in the 1988–89 NBA game.
His life was irrevocably altered by an incident that occurred in 1991; he was found to be HIV-positive. He made his diagnosis and retirement decisions public. Despite having retired, he was selected to play for the US basketball team at the 1992 Summer Olympics.
During the 1995-96 NBA season, he re-joined the Lakers, making a comeback as a player. He defeated the Atlanta Hawks in a win in February with 15 points, 13 assists, and 10 rebounds. In 32 games throughout the season, he averaged 6.9 assists, 14.6 points, and 5.7 rebounds. After the season, he formally announced his retirement.
Magic Johnson’s net worth was US$ 620 million as of October 2022.
Magic Johnson Net Worth Growth
Magic Johnson’s net worth is reportedly US$ 620 million. Basketball nearly brought him US$ 100 million. The remainder came from his business. Following his retirement from basketball, he founded a business named Magic Johnson Enterprise, which is expected to be worth US$ 1.2 billion in 2021.
Movie theatres, coffee shops, movie studios, and promotional marketing firms all fall under this company.
Here is Magic Johnson’s most recent financial history:
|Net Worth in 2022||US$ 620 Million|
|Net Worth in 2021||US$ 560 Million|
|Net Worth in 2020||US$ 520 Million|
|Net Worth in 2019||US$ 480 Million|
|Net Worth in 2018||US$ 440 Million|
|Net Worth in 2017||US$ 400 Million|
- He was the most valuable player in the NBA Finals and earned a title.
- Johnson was inducted into Basketball Hall of Fame twice.
He has previously worked with AMC Theaters, 24 Hour Fitness, Starbucks, and T.G.I. Fridays. He reportedly sold both of his known holdings—105 Starbucks locations and a 4.5% interest in the Los Angeles Lakers—for an estimated US$ 100 million. He established Magic Johnson Enterprises, a commercial conglomerate. LA sports have always been a part of Magic’s life. He has financial stakes in the WNBA’s LA Sparks, the MLB’s LA Dodgers, and the MLS’s LAFC.
Favorite Quotes from Magic Johnson
“Everyone thought I was going to die like a year later, they didn’t know. So I helped educate sports, and then the world, that a man living with HIV can play basketball. He’s not going to give it to anybody by playing basketball.” – Magic Johnson
“Being able to touch so many people through my businesses and make money while doing it, is a huge blessing.” – Magic Johnson
“As an athlete, I understood the value of my health insurance. I knew that in my profession, injuries were common and could happen at any time.”– Magic Johnson
“Any guy who can maintain a positive attitude without much playing time certainly earns my respect.”– Magic Johnson
“I really want people to know that I’ve worked hard, very hard, to get to where I am today. this didn’t just happen overnight. I started in business over 25 years ago and have found a way to build on what I’ve learned through every partnership and opportunity.”– Magic Johnson
“I tell people to look at me and understand that everybody first told me that I couldn’t be a 6-foot, 9-inch point guard, and I proved them wrong. Then they told me I couldn’t be a businessman and make money in urban America, and I proved them wrong. And they thought I couldn’t win all these championships, and I proved them wrong there as well.”– Magic Johnson
Keys Life Lessons from Magic Johnson
After learning about Magic Johnson’s fortune and career trajectory, let’s examine some of the most crucial lessons we can learn from him:
Schedule Some Alone Time.
Nobody surrounding you will be motivated if you don’t set aside time for you to be inspired.
Have the self-control to eliminate all the draining individuals from your life. You genuinely do progress or stagnate depending on your associations.
Realizing enormous dreams that we have never had can be terrifying. But as we go beyond our comfort zones, our boundaries enlarge.
Frequently Asked Questions
The Lakers legend’s US$ 1 billion business flourished with a variety of astute investments, as evidenced by the claim that “Magic Johnson financed in 125 Starbucks outlets.” To expand his business portfolio and buy a US$ 1 billion firm, Magic Johnson invests in 125 Starbucks franchises.
Magic Johnson Enterprises has owned various companies throughout the years, such as gyms, movie theatres, and more, in addition to Burger King and Starbucks.
One of the wealthiest athletes in the world as of October 2022, Magic Johnson has a net worth of about US$ 620 million. He was named one of the NBA’s 50 All-Time Great Players in 1996 and won the NBA Championship and the NBA Finals Highly Valuable Player awards in his first season. Magic Johnson was chosen first overall by the Los Angeles Lakers in the 1979 NBA Draft. He led the Lakers to the 1985 NBA Finals while averaging 18.3 points, 12.6 assists, as well as 6.2 rebounds per game. In 1991, he was diagnosed with HIV and retired from basketball.
Magic Johnson sold his stake in the Los Angeles Lakers and Starbucks for an estimated US$ 100 million. He has previously worked with AMC Theaters, 24 Hour Fitness, Starbucks, and T.G.I. Fridays. Schedule some alone time. Nobody surrounding you will be motivated if you don’t set aside time for you to be inspired.
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