Magic Johnson wants to ensure the youth have an early start on their road to financial literacy.
During the NBA legend and businessman’s visit to the Boys & Girls Club of Greater Washington, he gave $5,000 to one child and $1,000 to another under the condition that they would both open bank accounts, WJLA, an affiliate of ABC News, reports.
What’s more, the Washington Commanders charitable foundation presented a donation of $50,000.
When speaking to around 200 Washington, D.C. public school students, Johnson stressed the importance of them prioritizing their education and knowing that the sky’s the limit for their dreams.
“Just because I grew up poor, didn’t mean I had poor dreams,” Johnson said, according to the outlet. “If I can do all of those things, guess what you can do? Put your mind on doing something great. Education is key.”
The outlet notes that Johnson’s visit to the Boys & Girls Club of Greater Washington was his first public appearance since he officially became a co-owner of the Washington Commanders.
As previously reported by AFROTECH, Johnson secured what he describes as “the biggest achievement” in his business career after joining an investment group led by Josh Harris, co-owner of the Philadelphia 76ers, which received unanimous votes to approve the sale of the NFL team.
While it’s an “answered prayer” for Johnson, he believes his achievement can give minority groups a sense of ownership.
“Because it’s the NFL, there’s no higher, bigger sports league than the NFL. It’s been hard for us to get into the league, so give Commissioner Roger Goodell a lot of credit,” Johnson said. “It’s important because now all African-Americans and minorities in this country feel like they’re owners of this team, too, because I’m sitting in this position.”