Magic Johnson Net Worth 2022: How Many Starbucks Does He Own?
Magic Johnson Net Worth: One of the best basketball players of all time is Magic Johnson, a retired American professional basketball player. 13 seasons of his professional basketball career were spent with the National Basketball Association’s Los Angeles Lakers (NBA).
He is a tall, well-built man renowned for his strong arms, agility, and speed, all of which helped him throughout the 1980s to become one of the world’s most threatening players around the globe.
Magic Johnson was raised in a large family with many siblings and fell in love with basketball at a young age. Even though he wasn’t a professional basketball player, his father was a physically fit man who had participated in high school sports.
His mother supported him in his enthusiasm for the sport. He showed he was a great athlete while competing for the Everett High School team. He concluded his high school career with two All-State nominations, and at the time, he was regarded as the best high school athlete to come out of Michigan.
He continued playing the sport while attending Michigan State University to further his education. The Los Angeles Lakers signed him after college, where he played his whole career. He was identified as HIV-positive and is well-known for his charitable and HIV-awareness endeavors.
|Net Worth (2022)||$600 Million|
|Profession||American former professional basketball player and former president of the Los Angeles Lakers|
|Monthly Income And Salary||$3 Million +|
|Yearly Income And Salary||$40 Million +|
Magic Johnson Early Life
Magic Johnson was born in Lansing, Michigan, on August 14, 1959. His mother, Christine, worked as a school janitor, while his father, Earvin Sr., was an assembly line worker for General Motors. Magic had a passion for basketball and idolized players like Earl Monroe while growing up.
Johnson attended Everett High School, where he soon joined the basketball team. The moniker “Magic” was given to him by a local sportswriter when, at the age of 15, he recorded a triple-double of 36 points, 18 rebounds, and 16 assists. His reputation was cemented when he led his team to the state championship in his senior year.
Johnson received offers from every prestigious college but chose to attend Michigan State University rather than travel far from home. When Indiana State University and their great player Larry Bird were their opponents in the NCAA championship game in 1979, Magic’s team fought them.
Their matchup gave rise to one of the biggest rivalries in sports history and became the most watched college basketball game ever broadcast on television. Following Michigan State’s victory over Indiana, Johnson was voted the Final Four’s Most Outstanding Player.
Magic Johnson Personal Life
In a low-key ceremony held in Lansing, Michigan, Johnson wed Earlitha “Cookie” Kelly in 1991. Earvin III (EJ), the couple’s kid, was born in 1992 and is openly gay. EJ appeared on Rich Kids of Beverly Hills, a reality TV program.
In 1995, Magic and Cookie adopted Elisa as a child. Johnson and his wife split their time between Beverly Hills and Dana Point, California. In addition, Johnson has a son from a previous union. Andre Johnson was born to Melissa Mitchell in the year 1981.
Andre was brought up by his mother, although he visited Johnson every summer and subsequently served as the company’s marketing director.
Magic Johnson Career
The Los Angeles Lakers selected Magic as the first overall choice in the 1979 NBA Draft. Magic and his colleague Kareem Abdul-Jabbar led the Lakers to the NBA title in his first season, and Magic was honored as the MVP of the NBA Finals.
With the Lakers in 1980, 1982, 1985, 1987, and 1988, Magic won five NBA Championships. In 1980, 1982, and 1987, he won the NBA Finals MVP award three times. In 1987, 1989, and 1990, he won the NBA Most Valuable Player award three times.
He attended the All-Star game 12 times and won the MVP award twice. He is regarded as the best point guard ever to play the position. Magic’s career ended in 1991 after he contracted the HIV infection.
Near the conclusion of the 1993–94 NBA season, Magic made a comeback as the Lakers’ head coach. At the request of team owner Jerry Buss, he took the place of Randy Pfund and Bill Bertka. The Lakers initially performed well under Johnson’s leadership, winning five of their first six games.
— Earvin Magic Johnson (@MagicJohnson) September 16, 2022
However, after losing their next five games, Johnson announced that he would be stepping down as coach at the end of the current season. With a ten-game losing run to end the season, Johnson’s final record as head coach was 5-11.
He claimed that coaching was never in his plans, so in June 1994, he bought a 5% stake in the organization. Magic Johnson, who was 36 then, tried to make a comeback as a player by rejoining the Lakers for the 1995–96 campaign.
Johnson viewed his final return as “a success” despite the Lakers’ 22-10 record during the games he participated. Johnson announced his definitive retirement following the Lakers’ opening-round playoff loss to the Houston Rockets.
With 17,707 points, 6,559 rebounds, and 10,141 assists in 905 NBA games, Johnson has the best assists per game average in league history, with career averages of 19.5 points, 7.2 rebounds, and 11.2 assists. Johnson has the Finals record for assists in a game (21), shares the single-game playoff record for assists (24), and has the most playoff assists (48).
(2,346). He has done so six times, making him the only player to average 12 assists over an NBA Finals series. He holds the All-Star Game record for assists in a single game (22) and the All-Star Game record for assists in a lifetime (127).
To fight HIV, Johnson established the Magic Johnson Foundation after disclosing his condition in November 1991. Along with being an entrepreneur, philanthropist, and broadcaster, Johnson has fought for safe sex and the prevention of HIV/AIDS.
His shocking public disclosure of his HIV diagnosis in 1991 helped to shatter the preconceived notion that HIV was a “gay sickness” that heterosexuals didn’t need to be concerned about.
Magic the Entrepreneur
Magic’s retirement has not been a peaceful one. In his retirement, he established the Magic Johnson Enterprises business empire, which is now worth over $1 billion and has earned Magic a personal net worth of $600 million.
Magic Johnson Theaters, a movie studio, and a promotional marketing firm are all owned by Magic Johnson Enterprises. The 5% stake in The Lakers that Magic purchased in 1994 for $10 million was sold to billionaire Patrick Soon-Shiong in 2010 for an estimated $50–60 million.
Johnson also sold his Starbucks network for $75 million in 2010. The Los Angeles Dodgers were sold to Magic and a group of partners for $2 billion on March 27, 2012. more details here: For $2 billion, Magic Johnson purchases the Dodgers.
Magic Johnson’s Net Worth
A retired American basketball player and businessman with a $620 million fortune, Earvin “Magic” Johnson Jr. were chosen by the Los Angeles Lakers as the first overall player in the 1979 NBA Draft after winning basketball titles in high school and college.
He spent 13 seasons as the Lakers point guard. He captured the NBA Championship and the Most Valuable Player Award in his first season. Johnson served as the Lakers’ previous president of basketball operations.
He barely made about $100 million through basketball. The remainder came from his business. Following his retirement from basketball, he founded a company named Magic Johnson Enterprise, which is expected to be worth $1.2 billion in 2021.
Movie theaters, coffee shops, movie studios, and promotional marketing firms all fall under this company. That’s all there is to it; remain with us to learn more about the lives of other famous people like Magic Johnson.
Magic Johnson, a legendary player in the NBA, sold his 105 Starbucks locations just one day after selling his ownership stake in the Los Angeles Lakers. How much money did Johnson keep? Total: about $100 million.
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