Magic Johnson is now a billionaire, according to Forbes!
The former Lakers star became the fourth athlete to earn billionaire status after Michael Jordan, LeBron James, and Tiger Woods. Forbes estimates Johnson’s net worth to be $1.2 billion. After being the first overall pick in the 1979 NBA Draft, he went on to have one of the most legendary careers in NBA history.
Despite having an iconic basketball career that included five NBA championships and 12 All-Star appearances, Johnson earned most of his money after retiring from the sport. Forbes reports that he made $40 million from his NBA career, and he earned the rest by being a businessman and investing in different products and companies.
Johnson is a partial owner of three sports teams, including the WNBA’s Los Angeles Sparks, MLB’s Los Angeles Dodgers, and MLS’ LAFC. He also recently invested in the NFL’s Washington Commanders.
“It’s the biggest thing I’ve ever done in my life,” Johnson said of his investment in the football team. “Breaking these barriers and going through these doors is important for me, as a proud Black man. I don’t know why God blessed me with these opportunities, but I’m going to excel not only for myself and my family but for all African Americans.”
Some of Johnson’s other investments include Starbucks, Burger King, 24 Hour Fitness, and the life insurance company EquiTrust.
Cover photo: Magic Johnson Makes History as Fourth Athlete to Become a Billionaire/Photo by Shayan Asgharnia/August Images