Magic Johnson Net Worth In 2024? The Astonishing Numbers

Magic Johnson is an American icon both on and off the basketball court. His stellar 13-year career with the Los Angeles Lakers, including 5 championships and 3 MVP awards, cemented his status as one of the greatest players in NBA history. However, Johnson has proven equally adept in the business world, building a formidable company bearing his name and amassing a personal fortune estimated at $1.2 billion. In this article we talk about Magic Johnson Net Worth In 2024.

Johnson’s journey from inner-city Michigan to the corporate boardroom has made him an inspiration for many. After being forced into early retirement in 1991 due to an HIV diagnosis, he refocused his competitive drive into entrepreneurship. The results have been nothing short of “Showtime.”

The Early Years

Earvin “Magic” Johnson Jr. first picked up a basketball at the age of 7, idolizing players like Earl Monroe. His youth coach bestowed the nickname “Magic” after witnessing Johnson notch an impressive triple-double. Johnson went on to lead his high school team to a state championship before choosing to attend Michigan State University close to home.

In 1979, Johnson squared off against Larry Bird and Indiana State in the NCAA Championship game. The matchup between the two future NBA superstars became the highest-rated college basketball telecast ever. Michigan State prevailed, with Johnson claiming Most Outstanding Player honors. Months later, the Los Angeles Lakers selected Johnson first overall in the 1979 NBA draft.

Showtime in LA

It didn’t take long for Magic to make his presence felt in LA. In his rookie season, he helped lead the Lakers to an NBA title, earning the first of his 3 Finals MVP awards. Over the next 12 seasons, Magic dazzled fans with his uncanny court vision and highlight-reel passes, personifying the fast-breaking “Showtime” era of Lakers basketball.

Johnson won 5 championships with LA and 3 regular-season MVP awards. His rivalry with Larry Bird launched the NBA into the national spotlight throughout the 1980s. Today, many basketball pundits regard Johnson as the greatest point guard ever to play the game.

However, in 1991, Johnson stunned the world by announcing he had contracted HIV and would be retiring immediately. At just 32 and seemingly still in his prime, Magic’s playing days had abruptly ended.

Building a Business Empire

While Johnson HIV diagnosis was devastating personally, he wasted little time transitioning into his next chapter. He soon launched Magic Johnson Enterprises, a company that would invest in underserved urban communities often overlooked by major corporations.

Some of Johnson most successful ventures have focused on bringing name brands and job opportunities to urban neighborhoods. His partnership with Starbucks CEO Howard Schultz led to over 100 new stores opening in diverse communities once devoid of the popular coffee chain.

Johnson has also continued wielding influence in professional sports. He’s co-owned the Los Angeles Lakers and Los Angeles Sparks and been part of ownership groups for the Los Angeles Dodgers and Los Angeles Football Club. Additionally, he recently joined a group purchasing the NFL’s Washington Commanders for a record-shattering $6.05 billion.

Net Worth In 2024

So just how much is the legendary Magic Johnson worth after his immensely successful business career? According to Parade his current net worth at $1.2 billion.

Johnson’s company, Magic Johnson Enterprises, is valued at over $1 billion on its own today. The conglomerate has delivered handsome returns through diverse ventures like movie theaters, food and beverage chains and promotional marketing.

Additionally, Magic has earned tens of millions through his ownership stakes in professional sports teams. His initial $10 million investment in the Lakers reportedly netted $50 to $60 million when he finally sold his share. And his group’s recent purchase of the Washington Commanders at a record $6 billion valuation suggests plenty of profits to come.

Outside of his business endeavors, Johnson has channeled his entrepreneurial skills into philanthropy. He’s raised over $30 million for HIV/AIDS prevention through the Magic Johnson Foundation. Additionally, his work as an HIV/AIDS activist has helped reduce stigma surrounding the disease.

The Perfect Assist

Very few athletes have transitioned into business as seamlessly and successfully as Earvin “Magic” Johnson. Where he once bedazzled fans with his playmaking skills on the court, he now leverages his fame and charm to close lucrative deals off it.

In the process, he’s built a formidable company, created opportunities for overlooked communities, and given back generously along the way. Although his days of dishing out assists on the hardwood may be over, Magic continues finding new ways to share his wealth and vision with others. At only 64 years old, Johnson appears poised to make an even greater impact—and fortune—in the years ahead. I sincerely hope you find this “Magic Johnson Net Worth In 2024? The Astonishing Numbers” article helpful.