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Magic Johnson Reveals What He Believes Positioned Him For Success As A Black Billionaire

Former NBA great Magic Johnson credits his billionaire status to the company he kept throughout his career. Johnson was raised alongside nine siblings in Lansing, MI. To support the family, his father worked at a General Motors plant, and his mother was a school custodian, the NBA reports. Johnson found his purpose in basketball. “I practiced all day,” Johnson told USA Weekend, per The Atlantic. “I dribbled to the store with my right hand and back with my left. Then I slept with my basketball.” Johnson played at Everett High School, where he was nicknamed “Magic” by a sports writer after scoring 36 points, 16 rebounds, and 16 assists at 15 years old, the NBA notes. Johnson helped the team win a state title and continued to impress in college, leading the Spartans’ Michigan State University in East Lansing to a 25-5 record and a Big Ten Conference title. In 1979, he led his team to a national title, outperforming Larry Bird’s Indiana State University squad. To no surprise, Johnson...

Jul 1, 2024

Magic Johnson Reportedly Now A Billionaire, EquiTrust Life Insurance Co. Credited As His Primary Source of Wealth

Magic Johnson’s wealth has crossed the billion-dollar mark, according to Forbes.

Oct 30, 2023

Magic Johnson Celebrates The Reintroduction Of Atlanta Life Insurance, A Company Founded By Atlanta's First Black Millionaire

Magic Johnson will help build on the longstanding legacy of Atlanta Life Insurance Co.

Oct 17, 2023

Magic Johnson Has Declined Ownership In Several NBA Teams, But He Has His Eyes On The New York Knicks

There is one team on Magic Johnson’s radar for ownership outside of the Los Angeles Lakers.

Sep 27, 2023

Magic Johnson Gives A Combined $6K To 2 Washington, D.C. Students Under The Condition That They Open Bank Accounts

Magic Johnson wants to ensure the youth have an early start on their road to financial literacy.

Sep 8, 2023

Magic Johnson Recalls Declining Nike Stock Because He 'Didn't Even Know What Stocks Was At The Time'

Earvin “Magic” Johnson Jr. is opening up about a time where he missed out on the ultimate business deal.

Aug 16, 2023

Magic Johnson Says He's 'Living In An Answered Prayer' After Becoming Co-Owner Of NFL's Washington Commanders

Magic Johnson says he is “living in an answered prayer” after receiving unanimous votes to approve the sale of the NFL’s Washington Commanders.

Jul 21, 2023

Ownership Group Including Magic Johnson Reach Agreement To Purchase The Washington Commanders

The ownership group that features Magic Johnson has agreed on a deal.

May 15, 2023

Magic Johnson Among Group That Submitted $6B Bid To Purchase The NFL's Washington Commanders

The NFL’s Washington Commanders are up for sale, and one sports legend has joined an ownership group in hopes of landing a stake in the team.

Mar 29, 2023

Magic Johnson Joins Investment Group To Buy Washington Commanders, Report Says

Magic Johnson is said to have joined the bidding war to purchase the Washington Commanders, The Washington Post reports.

Mar 21, 2023

Magic Johnson, Samuel L. Jackson, And More Invest In $750K Pre-Seed Round For Women-Led Entertainment Startup

Magic Johnson, Samuel L. Jackson, and LaTanya Richardson Jackson are helping to bring more eyes to stories from African women filmmakers.

Feb 7, 2023

Did You Know Magic Johnson Was The Third Player To Sign An NBA Contract Worth $1M A Year?

Imagine it: the year is 1984, and between the bright neon color tracksuits and massive brick cell phones, Prince had the number one song on the charts with “Doves Cry.” And while this seems like a wild time, it was all in line with the eccentric characteristics of the era. Technology was evolving, perspectives were shifting, and money was being made. The year 1984 was also the start of a 25-year contract for NBA legend Magic Johnson.

Dec 29, 2022

Magic Johnson Is Reportedly In Talks Of Buying Stake In NFL Team

Magic Johnson already has a stake in several professional teams, but not in the NFL. However, that could be changing very soon.

Oct 24, 2022

Why Shaquille O'Neal Turned Down A Deal With Starbucks That Magic Johnson Says 'Changed Everything'

Shaquille O’Neal once turned down what later became a lucrative deal for someone else.

Oct 24, 2022

Magic Johnson’s NBA Return Only Happened After A Deal With His Wife — 'I Bribed Her. I Gave Her A Million Dollars'

Reliving the glory years is a real thing. From the hype of the crowd to the adrenaline felt by the sheer sport of the activity, only a few things compare to that rush. Across all sports genres, the world has witnessed players who have considered retirement but then decided to play one or a few more times before hanging the jersey up for good. Michael Jordan left basketball in 1993 just to return in 1995, and Tom Brady created an entire rollout about his retirement only to renege months later and return to the NFL. Magic Johnson is in that number but recently revealed there was a $1 million price tag associated with his return to basketball.

Sep 29, 2022