What Is Magic Johnson’s Net Worth? How He Earned It!

“Magic” Johnson  Was a retired American basketball player and businessman. Along with Magic Johnson, Michael Jordan’s net worth is also the most searched topic nowadays. Magic Johnson’s Net Worth is $620 million. He was chosen by the Los Angeles Lakers as the first overall player in the 1979 NBA Draft after winning basketball titles in high school and college. He spent 13 seasons as the Lakers’ point guard. In his first season, he captured both the NBA Championship and the Most Valuable Player Award. Johnson served as the Lakers’ previous president of basketball operations.

Johnson’s Early Life

In Lansing, Michigan, on August 14, 1959, Magic Johnson was born. His mother Christine worked as a school janitor, while his father Earvin Sr. was an assembly line worker for General Motors. Magic had a passion for basketball while growing up and idolizing players like Earl Monroe. Johnson attended Everett High School, where he soon joined the basketball team. The moniker “Magic” was given to him by a local sports writer when, at the age of 15, he recorded a triple-double of 36 points, 18 rebounds, and 16 assists. When he led his team to the state championship in his senior year, the reputation was cemented.

Johnson received offers from every prestigious college, but he chose to attend Michigan State University rather than travel far from home. When Indiana State University and their great player Larry Bird were their opponents in the NCAA championship game in 1979, Magic’s team fought them. Their matchup gave rise to one of the biggest rivalries in sports history and became the most watched college basketball game ever broadcast on television. Following Michigan State’s victory over Indiana, Johnson was voted the Final Four’s Most Outstanding Player.

Everything About Johnson’s NBA Career

Magic was selected by the Los Angeles Lakers as the first overall choice in the 1979 NBA Draft. Magic and his colleague Kareem Abdul-Jabbar led the Lakers to the NBA title in his first season, and Magic was honored as the MVP of the NBA Finals. With the Lakers in the years 1980, 1982, 1985, 1987, and 1988, Magic won five NBA Championships. In 1980, 1982, and 1987, he won the NBA Finals MVP award three times. In 1987, 1989, and 1990, he won the NBA Most Valuable Player award three times. He attended the All-Star game 12 times and won the MVP award twice. He is regarded as the best point guard to ever play the position.

Magic’s career ended in 1991 after he contracted the HIV infection. Near the conclusion of the 1993–94 NBA season, Magic made a comeback as the Lakers’ head coach. At the request of team owner Jerry Buss, he took the place of Randy Pfund and Bill Bertka. The Lakers originally performed well under Johnson’s leadership, winning five of their first six games. However, after losing their next five games, Johnson announced that he would be stepping down as coach at the end of the current season. With a ten-game losing run to end the season, Johnson’s final record as head coach was 5-11.

He claimed that coaching was never in his plans, so in June 1994 he bought a 5% stake in the organization. Magic Johnson, who was 36 at the time, tried to make a comeback as a player by rejoining the Lakers for the 1995–96 campaign. Johnson viewed his final return as “a success” despite the Lakers’ 22-10 record during the games he participated. Johnson announced his definitive retirement following the Lakers’ opening-round playoff loss to the Houston Rockets. Along With Magic Johnson, Rick Ross(Rick Ross Net Worth) also played NBA Championship. 

Has Johnson Suffered from HIV?

In order to fight HIV, Johnson established the Magic Johnson Foundation after disclosing his condition in November 1991. Along with being an entrepreneur, philanthropist, and broadcaster, Johnson has fought for safe sex and the prevention of HIV/AIDS. His shocking public disclosure of his HIV diagnosis in 1991 helped to shatter the preconceived notion that HIV was a “gay sickness” that heterosexuals didn’t need to be concerned about.

Johnson’s Personal Life And Relationships

In a low-key ceremony held in Lansing, Michigan, Johnson wed Earlitha “Cookie” Kelly in 1991. Earvin III (EJ), the couple’s kid who was born in 1992 and is openly gay. EJ made an appearance on Rich Kids of Beverly Hills, a reality TV program. In 1995, Magic and Cookie adopted Elisa as a child.

Johnson and his wife split their time between Beverly Hills and Dana Point, California. In addition, Johnson has a son from a previous union. Andre Johnson was born to Melissa Mitchell in 1981. Andre was brought up by his mother, although he visited Johnson every summer and subsequently served as the company’s marketing director.

Magic Johnson Net Worth
Magic Johnson Net Worth

Has He Started Business After Retirement ?

Magic’s retirement has not been a peaceful one. In his retirement, he established the Magic Johnson Enterprises business empire, which is now worth over $1 billion and has earned Magic a personal net worth of $600 million. Magic Johnson Theaters, a movie studio, and a promotional marketing firm are all owned by Magic Johnson Enterprises.

The 5% stake in The Lakers that Magic purchased in 1994 for $10 million was sold to billionaire Patrick Soon-Shiong in 2010 for an estimated $50–60 million. Johnson also sold his Starbucks network for $75 million in 2010.The Los Angeles Dodgers were sold to Magic and a group of partners for $2 billion on March 27, 2012. more details here: For $2 billion, Magic Johnson purchases the Dodgers.

Magic Johnson’s Net Worth And Salary

Magic Johnson’s net worth is estimated to be a staggering $600 million as of 2022 by Celebrity Net Worth. Magic made slightly over $18 million in salaries and an additional several million dollars in endorsements during his playing career.

 

Leave A Reply

Your email address will not be published.