Magic Johnson is not only a legendary NBA player but also a highly successful business mogul. After dominating the court with the Los Angeles Lakers, he transitioned into the world of business and built a remarkable empire. Magic Johnson net worth is around $1.2 billion.
From his early investments in Starbucks to owning multiple sports franchises, he has shown that his talents extend beyond basketball. His ability to identify opportunities in various industries has helped him amass a fortune of $1.2 billion.
Moreover, his dedication to philanthropy and community development has made a lasting impact. In this article, we’ll dive into Magic Johnson net worth, how he achieved such success and the legacy he continues to build today.
Profile Summary
Here’s a well-structured profile summary table:
| Attribute | Details |
| Full Name | Earvin “Magic” Johnson Jr. |
| Date of Birth | August 14, 1959 |
| Age | 65 years (as of 2024) |
| Birthplace | Lansing, Michigan, USA |
| Nationality | American |
| Height | 6 feet 9 inches (2.06 meters) |
| Weight | Approx. 220 lbs (100 kg) |
| Profession | Former NBA Player, Businessman, Investor |
| NBA Career | 1979 – 1991, 1996 (Los Angeles Lakers) |
| Position | Point Guard |
| Championships | 5× NBA Champion (1980, 1982, 1985, 1987, 1988) |
| Notable Awards | 3× NBA MVP, 12× All-Star, Hall of Famer |
| Business Ventures | Magic Johnson Enterprises, Starbucks, Movie Theaters, Sports Ownership |
| Estimated Net Worth | $620 million+ (as of 2024) |
| Spouse | Cookie Johnson (m. 1991) |
| Children | 3 (Andre, Earvin III (EJ), Elisa) |
| Philanthropy | HIV/AIDS Awareness, Scholarships, Community Development |
| Comparisons | Tiger Woods, LeBron James, Michael Jordan |
Who is Magic Johnson?
He is a retired NBA player and one of the greatest basketball stars of all time. Born Earvin Johnson Jr. on August 14, 1959, in Lansing, Michigan, he played for the Los Angeles Lakers.
During his career, he helped the team win championships and earned MVP awards. He is known for his incredible skills as a point guard, setting records for assists. After retiring from basketball, he built a successful business empire through Magic Johnson Enterprises.
He invested in movie theaters, fitness centers, Starbucks franchises and a PepsiCo bottling plant. He also owns stakes in teams like the Los Angeles Lakers, Los Angeles Sparks, LAFC, Los Angeles Dodgers and the Washington Commanders.
Early Life and Background
He was born Earvin Johnson Jr. on August 14, 1959, grew up in Lansing, Michigan. His parents were Earvin Sr. and Christine Johnson. From a young age, he showed a talent for sports, particularly basketball.
He played at Lansing Everett High School, where he became a standout player. In high school, Johnson quickly gained attention for his skills on the court. His ability to make quick decisions and lead his team was unmatched.
This earned him a scholarship to play college basketball at Michigan State University. There, he continued to shine, leading his team to a national championship in 1979. This victory brought him widespread recognition and set the stage for his future in the NBA.
Rise to Fame in the NBA
He rose to fame in the NBA after being drafted by the Los Angeles Lakers in 1979. His exceptional skills as a point guard set him apart. He led the team to five championships and won three MVP awards.
Johnson’s ability to pass the ball and make plays was unmatched, with career averages of 19.5 points, 7.2 rebounds and 11.2 assists per game.
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NBA Career and Achievements
He had an outstanding NBA career, playing his entire 13 seasons with the Los Angeles Lakers. He was known for his incredible skills as a point guard. Over the years, he led the Lakers to five championships and earned **three MVP awards. His playstyle was unique, as he could score, rebound and pass like no other.
Challenges and Setbacks
He faced many challenges during his career. In 1991, he shocked the world when he announced he had tested positive for HIV. At that time, HIV was feared, and many thought it would end his career.
Throughout his life, Johnson also faced criticism for his business decisions. Starting out, people doubted his ability to succeed outside of basketball.
Magic Johnson Transition to Business
After retiring from NBA basketball, he quickly shifted his focus to business. He invested in various sectors, including movie theaters, fitness centers and Starbucks franchises. His company became the foundation of his successful business empire.
He didn’t stop there, he also bought stakes in sports teams, such as the Los Angeles Lakers, Los Angeles Sparks, LAFC, Los Angeles Dodgers and the Washington Commanders.
Magic Johnson Net Worth
Magic Johnson net worth is around $1.2 billion. He made most of his wealth after retiring from the NBA. His business ventures through Magic Johnson Enterprises include investments in movie theaters, fitness centers, Starbucks franchises and a PepsiCo bottling plant.
He also owns stakes in sports teams like the Los Angeles Lakers, Los Angeles Sparks, LAFC, Los Angeles Dodgers and Washington Commanders. These investments helped him build a successful business empire.
Personal Life
He has been married to Cookie Johnson since 1991. They have one son, EJ Johnson, who is known for his work as a television personality and fashion icon. The couple shares a strong bond and Cookie has been a key support throughout Magic’s career.
Outside of his family, Magic is deeply involved in philanthropy. He founded the Magic Johnson Foundation, which focuses on improving urban communities through education and health programs.
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Family
He is married to Cookie Johnson, a philanthropist and entrepreneur. They have been together since 1991. The couple has one son, E.J. Johnson, who is known for his work in fashion and TV. E.J. is openly gay and has worked as a reality TV star.
He also has two other children, Andre Johnson and Elisa Johnson, from past relationships. His family is important to him and he often shares moments with them publicly. The Johnson family is known for their commitment to community empowerment and philanthropy.
Lifestyle
He leads a dynamic lifestyle. After retiring from the NBA, he focused on expanding his business empire. He owns multiple companies, including investments in movie theaters, fitness centers and Starbucks franchises.
He also has stakes in major sports teams like the Los Angeles Lakers, LAFC, and Washington Commanders. Despite his success, he remains grounded. He is involved in philanthropy and works to empower communities.
Social Media Presence
He stays active on social media, engaging with fans and promoting his business empire. His Twitter and Instagram accounts share updates on his ventures, personal life and philanthropic efforts.
He often posts about his sports ownership in teams like the Los Angeles Lakers and Washington Commanders, as well as his investments in fitness centers and movie theaters.
Magic uses these platforms to inspire others, share motivational messages and highlight his commitment to community empowerment. His followers get a glimpse into his life, business strategies and views on leadership and success.
How Did Magic Johnson Become So Successful?
He became successful through his hard work, talent and smart decisions. He was an outstanding NBA player, leading the Los Angeles Lakers to multiple championships and earning MVP awards. His skills as a point guard made him one of the best players in history.
After retiring from basketball, he turned his attention to business. He founded a company that invested in movie theaters, fitness centers, Starbucks franchises and a PepsiCo bottling plant. These investments grew his wealth, making him a billionaire.
He also invested in sports ownership, holding stakes in teams like the Los Angeles Lakers, Los Angeles Sparks, LAFC, Los Angeles Dodgers and Washington Commanders. His success in business shows his ability to think beyond the court.
Impact on Sports and Culture
He revolutionized the game of basketball with his unique style of play. As a point guard for the Los Angeles Lakers, he led the team to multiple championships. His ability to make incredible assists changed how fans viewed basketball, making teamwork as important as individual performance.
Off the court, he made a huge impact on sports culture. He was one of the first athletes to build a massive business empire. His investments in movie theaters, fitness centers, and Starbucks franchises set a path for other athletes to become successful entrepreneurs.
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Philanthropy and Community Involvement
He is known for more than just his NBA career. His philanthropy and focus on community involvement have left a lasting impact. He created the Magic Johnson Foundation to help urban communities. The foundation supports education, healthcare and community development.
He has worked on projects that bring resources and opportunities to underserved areas. His work empowers young people by giving them better chances in education and career paths. He also focuses on HIV/AIDS awareness and has raised millions to fight the disease.
FAQs
How did Magic Johnson become a businessman?
He started investing during his NBA career, focusing on movie theaters, fitness centers and Starbucks franchises.
What is Magic Johnson net worth?
His net worth is $100 million from his Starbucks investment.
Does Magic Johnson own Pepsi?
No, he doesn’t own Pepsi but has invested in a PepsiCo bottling plant.
Who is the wealthiest NBA player?
As of 2025, Michael Jordan is the wealthiest, followed by LeBron James and Magic Johnson.
How did Magic Johnson get so rich?
He built wealth through smart investments in businesses, like movie theaters, fitness centers, and sports franchises.
Does Johnson own Starbucks?
No, but he invested in Starbucks franchises early on and made a significant profit.
What stores does Johnson own?
He owns movie theaters, fitness centers, and Starbucks franchises in various locations.
Conclusion
Magic Johnson has achieved great success both on and off the basketball court. His business empire spans across movie theaters, fitness centers, Starbucks franchises and sports teams. His investments and entrepreneurial spirit have turned his $40 million NBA earnings into a fortune worth $1.2 billion.
Beyond making money, he is deeply committed to helping others. Through his Magic Johnson Foundation, he focuses on education, healthcare and community development.
He has also worked to bring opportunities to underserved areas, making a lasting impact on the lives of many. His legacy shows that with vision and hard work, you can build wealth while also giving back to the community.
