Magic Johnson Worth- The LA Legend’s Unstoppable Empire!

How much is Magic Johnson worth? MILLIONS baby! However, of course, we all already knew that.

Johnson is one of the most ELITE athletes that have ever played the game of basketball. And he was richly rewarded for his skills. For instance, what was Magic’s Lakers contract like?

Well, back in the 1980’s Johnson and the Los Angeles Lakers came to an agreement. $25 million, for 25 years. So basically, from 1984 to 2009, Magic would rake in one million dollars a year.

Now, compared to what NBA guys are making currently; this may seem very small. And truth be told, we firmly believe players should have made way more back in the day; however, we digress. Magic’s contract is still lucrative for his era and at the time was considered the longest and richest deal in sports history. Wild.

Is Magic Johnson a Billionaire?

Yet, we all know that Magic is a savvy business man, so $25 million is definitely not his net worth, in the year of our Lord, 2023. Also, we know this is the case because Johnson is part owner of a NFL team, the Washington Commanders. And it takes way more than $25 million to get in on ownership action.

Therefore, the question is simple. What kind money is Magic Johnson working with nowadays? Is he a billionaire?

Not quite. But our boy is steadily getting there. As of 2023, the most current reporting states that Johnson’s net worth is in the $620 million range. Therefore, he is more than halfway to being a member of the coveted billionaire’s club. Joining such sports heavyweights as Michael Jordan, Lebron James as well as Tiger Woods.

Not a bad club to be in. However, how is Johnson worth over half a billion dollars? What did he do if his money isn’t strictly from sports?

Magic Johnson Worth- The LA Legend’s Unstoppable Empire!

Investment and business ventures is the name of the game folks! As his career went on and time goes by; Johnson makes a lot of great entrepreneur moves and decisions. With his Magic Johnson Enterprises, Magic got busy investing.

For example, investing in ownership (4.5% stake) of his former team the Los Angeles Lakers (heck, this alone would make anyone some serious COIN). He also invests in movie theaters, and restaurants like Burger King and T.G.I. Friday’s.

Yet, Johnson’s empire building does not end there. One of the Boss Man moves he is known for is joining up with Sodexo. An extremely lucrative European food service company; that is the second largest throughout Europe in its respective industry. How large? Sodexo is said to operate in 55 countries and serve at least 100 million a day.

Translation: Bank is being MADE. Johnson uses his name, popularity; but more than anything, business street smarts in order to broker lucrative partnerships and deals. Nevertheless, is there anything else to know about Magic’s finances?

Magic Johnson Net Worth

Of course! Shall we talk about how Magic was able to walk away with a cool $100 million thanks to coffee? Let’s.

Once upon a time… in the land of whipped cream, lattes and mocha Frapps. There lived a former NBA player intelligent and wise to understand how much dough can be made from people’s addiction to caffeine and sugar. Yes friends, for a little over a decade, Magic begins investing in Starbucks. He also comes to own somewhere over 100 locations during the years of 1998-2010.

Imagine how much one prime Starbucks location would make you? Much less than over 100! Nonetheless, excuse the pun, but the outcome only gets sweeter. Why?

Eventually, Magic Johnson Enterprises decides to sell off all of his stocks in Starbucks. The Sports Rush reported that Johnson walked away with a whopping $100 million from this transaction. Uhm… can you say… BOSS moves?

Furthermore, Johnson also made $100 million of the Lakers. Remember earlier when we mentioned his 4.5% stake in the team? Well, Magic sold it, and got $100 million richer.

Magic Johnson Enterprises

As one can see, Erwin and his Magic Johnson Enterprises is quite busy. Making deals. Investing in stocks. All while doing so in a very calculated and highly efficient manner.

Moreover, there’s a lot one can learn from studying Magic Johnson’s business dealings. One thing that instantly pops out is diversity. Diversifying what you invest into and the type of business ventures you wish to start or become apart of financially.

Johnson has demonstrated this beautifully by making his wealth from sports, food and hospitality, as well as entertainment. From dipping his feet into a variety of things, he’s been able to create multiple avenues of income for himself. Avenues that often seem to survive regardless of the ups and downs of the economy.

Yes, Magic Johnson’s IQ goes beyond his days on a basketball court. He’s been legendary from every dribble to every slam dunk business venture. Magic Johnson’s worth via his Magic Johnson Enterprises is valued over $1 Billion dollars. With his latest investment in the NFL, with the hopes of developing a championship team, this number could rise even further north.

How exciting it is to see Magic still thriving and growing! Also, how inspiring is it to see how far that talent, opportunity and passion can take you. As Johnson proves, the ceiling is higher than you think. So be bold, dream big and believe in yourself and a little “Magic.”

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