NBA legend Magic Johnson may not be an active player on the basketball court these days, but he’s finding a lot of success as a modern-day businessman. According to Forbes, the former Lakers guard has joined the ranks of his peers like Michael Jordan, Tiger Woods, LeBron James, and Christiano Ronaldo as one of the world’s richest athletes.
Magic Johnson Is Now A Billionaire https://t.co/2didu5dQXs by @MrMattCraig pic.twitter.com/GztSLYqjra
— Forbes (@Forbes) October 29, 2023
“He was always agnostic about what the business was,” said Magic’s former agent, Michael Ovitz. “As long as it fit the parameters of what a good business should be. He was born with that special talent; he’s had it since the beginning of his career. If I could know exactly what it was, I would bottle it and give it to myself and everybody in my company.”
As part owner of the LA Sparks, Los Angeles Dodgers, and the MLS’ LAFC, Magic is already the owner of several lucrative organizations. His other investments include places such as T.G.I. Friday’s, Starbucks, and countless other popular Western businesses.
Magic The Businessman
Since retiring back in 1996, Magic Johnson has grown his fortune 10-fold and he remains the best example today of how a player can turn their career earnings into a full-blown business empire worth hundreds of millions. While smarts and luck no doubt played a role in Magic’s post-NBA prosperity, fans are still curious to discover the secret to his business success.
Obviously, making millions in the NBA made it easy for him to sustain his income for years to come. According to Johnson, the key is to work for it and to make money “while people are sleeping.” As the Lakers legend has explained in the past, he changed his entire lifestyle to support a growing business venture. He used to go to sleep at 8:30 p.m. every night so he could wake up at 4 to take care of business. Today, Magic’s routine is mostly a mystery to us all but as the world’s newest billionaire, he’s earned a break from the 20+ years of hard work it took to get him to this point.
Magic Johnson Is A Lakers Legend
While Magic may not be as popular as LeBron James or Michael Jordan, he’s regularly mentioned as one of the top three players in basketball history. During his career with the Lakers, he became a living legend as the face of “Showtime” in Los Angeles. Love him or hate him, you cannot argue with his production on the court with career averages of 19.5 points, 11.2 assists, and 7.2 rebounds per game on 52% shooting.
By the time of his shocking HIV diagnosis in 1991, Magic was already one of the GOATs with a total of 5 championships, 12 All-Star appearances, 3 MVP wins, and 10 All-NBA selections. To date, nobody has matched his electric playmaking ability and his track record of success with the Purple and Gold remains one of the most successful stretches in the franchise’s history. It’s been over 20 years since Magic walked away from the game, and while that chapter of his life has long been over now, he continues to collect wins in the world of finance, culture, and business.
We sincerely appreciate and respect you as a reader of our site. It would help us a lot if you follow us on Google News because of the latest update.
Thanks for following us. We really appreciate your support.
