Six feet nine inches tall Magic Johnson, an entrepreneur, motivational speaker, activist, also a legendary retired professional basketball player who possibly is the highest point guard ever in all NBA history. Let’s find out how much is Magic Johnson Net Worth.
Currently the president and co-owner of Los Angeles Lakers, and also the CEO of Magic Johnson Enterprise, which is worth billions of dollars. So how did Magic Johnson amass such a net worth figure and become a business mogul?
Table of Contents
Earvin Johnson Jr. is among the six siblings of Earvin Sr. and Christine. He was born in the state of Michigan in 1959. His parents were not well off as his father was a garbage collector and a worker at General Motors and the mother a school custodian; however, they dint lack food. His father used to play basketball back in high school, and even the mother and his brothers too.
He attended Everett High School, which he recalls he didn’t have a pleasant experience there due to racism; however, he was considered the best high school player ever from his state region. Upon graduation, he attended Michigan State College, where he took a course in communication studies major. Here before graduating, he was named the most outstanding player for leading his college in the 1978-79 season to the championship and drafted in the All American team and 1979 drafted in NBA.
On his personal life, Johnson has three children one son biologically with Melissa Mitchell, another son with his wife Earlitha Kelly, whom he married in 1991, and an adopted daughter Elisa. Currently, he stays with his family in Dana Point, California.
Having played at high school and college basketball teams and emerging the best performer in both institutions, Los Angeles Lakers drafted him first overall in 1979. He quickly found success and was selected in NBA All-Rookie Team and NBA All-Star Game starter. In the 1980 NBA Finals, he led the team to glory, and he became the only rookie to have won the NBA Finals MVP award.
In 1981 after recovering from a knee injury, he signed a contract that was the highest paying at that time worth $25 million. He led the team again in 1982 NBA Finals against Philadelphia, where he won his second NBA Finals MVP Award.
In 1982-83 NBA season, he lost the championship to Sixers and the following year to Celtics. He led Los Angeles in defeating Celtics in the 1985 NBA Finals together with Abdul Jabbar.in the 1986-87 NBA season he led the team in winning its fourth championship against Boston Celtics, and he was awarded his third Finals MVP title.
He successfully defended the title in the 1987-88 NBA season against Detroit Pistons and became his fifth and last NBA Championship of his career. He retired in 1991-1992 NBA season after discovering he was HIV positive. Although he retired, he was voted in by fans in the 1992 NBA All-Star Game and even went ahead to compete in the 1992 Summer Olympics.
Apart from NBA career as a player, he was a coach of the Lakers from 1993 to 1995. He also purchased a stake of Lakers, and now he is the president of basketball operations of the Lakers.
As a businessman, he has Magic Johnson Enterprises that has a net worth value of $1 billion. He also owns EquiTrust Life Insurance Company, which controls around $14 billion.
Awards & Achievements
Johnson is a legend in NBA and has won several awards. Some of the awards are induction in the Basketball Hall of Fame, Naismith Memorial Basketball Hall of Fame, 3 NBA MVP Awards, named NBA Most Valuable Player thrice, awarded J. Walter Kennedy Citizenship Award and was five-time NBA champion.
Net Worth & Salary of Magic Johnson
Magic Johnson Net Worth: Magic Johnson’s net worth currently is $650 million. He has amassed such a vast net worth fortune from his salary as a basketball player during his years as he was even once the highest-paid NBA player. Apart from NBA cash, Magic Johnson’s net worth has been boosted by his investments. His Magic Johnson enterprise currently has a net worth of $1 billion.
The enterprise includes partners such as AMC Theaters, Starbucks, T.G.I, Burger King, and many others. On top of it, all Magic Johnson net worth figure receives some boost from the Los Angeles Lakers which he recently purchased 5% stake and also EquiTrust Life Insurance Company.
Magic Johnson’s net worth of $650 million sets him apart from the many celebrities who burn their career money, and a few years later, after retirement there broke and filed bankruptcy. He is an excellent example that one can still have a life even when H.I.V positive and the disease should not stop you from living your full presence and attaining your goals in life.