Known as one of the best players to play in the NBA, Earvin “Magic” Johnson Jr., is one of the most successful former athletes in America. Aside from the handsome salary he earned as a pro basketball player, Magic has started several business ventures that have helped him achieve success beyond his playing days. You might be wondering, what is Magic Johnson’s net worth? It may be higher than you think.
Magic Johnson’s net worth is currently estimated to be about $600 million. During his career as an NBA player, Johnson’s annual salary was around $24 million, an amount that hasn’t been adjusted for inflation.
Despite his career ending prematurely due to hysteria over his HIV diagnosis, Magic Johnson had an impeccable 12-year run in the NBA. He won five championships out of nine trips to the finals, earned three MVP awards, and was selected to the All-NBA First Team nine times.
With such a successful NBA career in spite of his contraction of the HIV virus, one would think Johnson would be done building wealth. But he didn’t stop there. In 1995, he opened up Magic Johnson Enterprises. This business venture grew into other ventures such as the ownership of health clubs, movie theaters, real estate, and more. Johnson purchased a majority stake in the Los Angeles Dodgers for $2 million. He also owns a stake in the WNBA’s Los Angeles Sparks. Not to mention, the retired basketball legend is part-owner of the Los Angeles Football Club, an expansion team in Major League Soccer.
Early Life
Magic Johnson fell in love with basketball at an early age. This led to him join the basketball team in high school. He earned the nickname “Magic” at 15 when he scored a triple-double with 36 points, 18 rebounds, and 16 assists. He was the first overall pick in the 1979 NBA Draft.
Today, the NBA star lives with his wife in a lavish home in Beverly Hills. The couple also owns two beach houses.
