Have you ever wondered what Magic Johnson’s net worth is? Well, according to our estimates, the retired NBA superstar is worth an estimated $620 million.
That’s a pretty penny, but it’s not really all that surprising when you consider how successful Johnson has been both on and off the court.
Johnson is probably best known for his time with the Los Angeles Lakers, where he won five NBA championships and was named the league’s Most Valuable Player three times.
He also had a successful career in business, launching a number of businesses and investing in many others.
As of May 2023, Magic Johnson’s net worth is $620 million.
So how did Johnson end up with such a large net worth? Let’s take a look at his earnings from both his NBA career and his business ventures.
Table of Contents
Early Life
Earvin “Magic” Johnson Jr. was born on August 14, 1959, in Lansing, Michigan. He was the youngest of three children and grew up in a poor, single-parent household. His mother, Christine, worked several jobs to support her family.
Johnson began playing basketball at an early age and quickly developed into a star player.
He attended Everett High School in Michigan and led his high school team to a state championship and was named Michigan’s Mr. Basketball in 1977.
College Career
As a freshman at Michigan State University, Johnson led the Spartans to the NCAA championship game, where they lost to the University of Indiana.
The following year, he helped Michigan State win the national title, and he was named the tournament’s Most Outstanding Player.
Johnson left Michigan State after his sophomore year and entered the NBA draft. He was chosen first overall by the Lakers and went on to have a successful career in Los Angeles. He played point guard for the historic franchise.
NBA Career
Magic Johnson was drafted first overall in the 1979 NBA Draft by the Lakers. In his rookie year, Johnson averaged 18.0 points, 7.7 rebounds, and 7.3 assists per game.
He was also named Rookie of the Year and won a championship with the Lakers.
Magic Johnson had an illustrious NBA basketball career, winning 5 NBA Finals with the Lakers and being named MVP 3 times.
He was also a 12-time All-Star and 10-time All-NBA selection. Johnson was known for his versatile game and his ability to make his teammates better.
Rivalry With Larry Bird
One of Magic Johnson’s most famous rivalries was with Larry Bird of the Boston Celtics. The two players helped resurrect the NBA in the 1980s and their matchup in the 1984 NBA Championship is considered one of the greatest ever.
Their rivalry started long before the NBA, however, as the two faced off in college. In the 1979 NCAA championship game, Johnson’s Michigan State Spartans defeated Bird’s Indiana State University Hoosiers.
The rivalry between Magic and Larry transcended the basketball court and the two players have remained friends throughout the years.
National Team Career
Johnson also had a successful career with the United States national basketball team.
He won a gold medal at the 1984 Summer Olympics and another at the 1992 Summer Olympics as a member of the storied “Dream Team.”
This team featured NBA legends such as Michael Jordan, Larry Bird, and Charles Barkley and is widely considered to be the greatest basketball team ever assembled.
He was also a member of the gold-medal-winning team at the 1990 FIBA World Championship.
Business Ventures
Johnson has had a successful career in business, launching a number of businesses and investing in many others.
Some of his most successful businesses include Magic Johnson Enterprises, which is a diversified company that specializes in urban development, media, and hospitality. He also has an ownership stake in the Los Angeles Dodgers.
The company is also the parent entity of Magic Johnson Theaters, which was one of the first businesses he started.
Johnson’s business ventures have been very successful, and they’ve contributed to his net worth of $620 million. Thanks to his businesses and investments, Magic Johnson is one of the richest retired athletes in the world.
Investments
In addition to his businesses, Magic Johnson has also made some savvy investments. He was an early investor in Starbucks and 24-Hour Fitness. He’s also invested in a number of tech companies, including Slack and Ring.
Johnson’s investments have no doubt made him even wealthier, and they’ve helped him reach his massive net worth.
Retirement
Magic Johnson retired from the NBA in 1991 after announcing that he had tested positive for HIV. He has since become an advocate for HIV/AIDS awareness and prevention.
In retirement, Johnson has remained active in business and philanthropy. He briefly served as the president of basketball operations for the Lakers between 2019-2020 but remains involved with the organization.
Magic Johnson Articles Following HIV Announcement
Following the shocking announcement, there were a number of articles written about Magic Johnson and his HIV status.
Many were supportive of him and praised him for being open about his diagnosis. Others were critical, with some suggesting that he had put others at risk by not disclosing his HIV status sooner.
Regardless of the reaction, Magic Johnson’s announcement was a major moment in the fight against HIV/AIDS and helped increase awareness of the disease.
Frequently Asked Questions (FAQs)
What is Magic Johnson’s net worth in 2022?
According to our estimates, Magic Johnson is currently worth $620 million. This includes his earnings from his NBA career and his business ventures.
Who is the richest basketball player of all time?
The richest basketball player of all time is Michael Jordan, who is estimated to be worth $2.2 billion. Magic Johnson is third on the list behind LeBron James, with a net worth of $620 million.
Magic Johnson Net Worth 2023
As of May 2023, Magic Johnson’s net worth is $620 million. This includes his earnings from his NBA career, business ventures, and investment portfolio. His net worth is expected to continue to grow in the coming years.
Real Estate
In addition to his businesses and investments, Magic Johnson also owns a number of properties. He owns several homes in the Los Angeles area, as well as a mansion in Beverly Hills.
He also owns a number of commercial properties, including the Magic Johnson Theaters.
Magic Johnson’s real estate portfolio is worth an estimated $150 million, which adds to his overall net worth.
Personal Life
Magic Johnson is married to Earlitha “Cookie” Kelly. The couple has three children together: son Andre Johnson (from a previous relationship with Melissa Mitchell), daughter Elisa, and son E.J Johnson.
Johnson is also the father of son Earvin III, from a previous relationship.
Johnson has been open about his battle with HIV, and he has been an advocate for HIV/AIDS awareness and prevention.
Philanthropy
Magic Johnson is a philanthropist and has donated millions of dollars to various charities and causes over the years.
He also founded the Magic Johnson Foundation, which is dedicated to empowering urban communities through education and leadership development.
In 2012, Johnson was also awarded the Presidential Medal of Freedom by President Barack Obama.
Key Takeaways
Now that you know what Magic Johnson’s net worth is and how he built it, let’s take a look at the most important lesson we can learn from his journey.
Bend But Don’t Break
No matter how successful you become, it’s important to always stay true to yourself. Magic Johnson is a prime example of this.
Despite his massive success, he has remained humble and down to earth. He’s also given back to the community in a number of ways, including through his work with HIV/AIDS awareness and prevention.
It’s important to remember that no matter how much money you make or how successful you become, it’s always crucial to stay true to yourself. That’s a lesson we can all learn from Magic Johnson.