Forbes declared Former basketball star Magic Johnson a billionaire, making him only the fourth athlete to join the exclusive club. The business magazine estimates Johnson’s wealth at about $1.2bn (£990m). The other athlete billionaires are NBA players Michael Jordan and Lebron James, and the golfer Tiger Woods.
Johnson invested in numerous companies including ownership stakes in various sports teams.
Johnson had one of the most iconic careers in NBA history before retiring in 1996, but he made his wealth away from sports as he has investments in Starbucks, Burger King, 24 Hour Fitness, and the life insurance company EquiTrust.
Forbes states that Johnson made $40m from his NBA career. He has ownership stakes in three Los Angeles-based sports teams, including MLB’s Los Angeles Dodgers.
The NBA Champion: Magic Johnson
Johnson was born on August 14, 1959, He is an American businessman and former professional basketball player. He is often regarded as the greatest point guard of all time. Johnson played 13 seasons in the National Basketball Association (NBA).
After winning a national championship with Michigan State in 1979, Johnson was selected first overall in the 1979 NBA draft by the Los Angeles Lakers, leading the team to five NBA championships during their Showtime era. Johnson retired abruptly in 1991 after announcing that he had contracted HIV, but returned to play in the 1992 All-Star Game, winning the All-Star MVP Award. After protests his return from his fellow players, he retired again for four years, but returned in 1996, at age 36, to play 32 games for the Lakers before retiring for the third and final time.
Johnson was honored as one of the 50 Greatest Players in NBA History in 1996 and selected to the NBA 75th Anniversary Team in 2021, and became a two-time inductee into the Naismith Memorial Basketball Hall of Fame—being enshrined in 2002 for his individual career, and again in 2010 as a member of the “Dream Team”.
