The date that changed the NBA landscape forever was November 7, 1991. Earvin Johnson Jr., known as Magic, held a press conference telling the world he tested positive for HIV.
- The “Magic” Businessman
- Charitable Acts
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People figured this would be the end of Johnson’s career and his life, but Johnson wouldn’t quit.
Johnson would go on to play in the 1992 NBA All-Star Game, the 1992 Olympics, and he played 32 games in the 1995-96 NBA season.
Johnson’s ability to continue to play basketball after his HIV diagnosis was inspiring, but where he really excelled was his business career.
The “Magic” Businessman
Magic Johnson is not only one of the most successful former NBA players turned businessman, but he’s also one of the most successful former athletes turned entrepreneurs.
According to CelebrityNetWorth, Johnson has the ninth-highest net worth at $600 Million of any current or former athlete in the entire world!
After retiring from the NBA, Johnson started Magic Johnson Enterprises, an investment company. Today, the company is valued at over $1 billion.
Johnson’s company owns Magic Johnson Theaters, a promotional marketing company, and even a movie theater.
Johnson also has personally bought and, in 2010, sold a chain of Starbucks for $75 million.
In his first profession, Johnson played basketball, so it’s not a coincidence that Johnson would invest in a few sports teams.
He first bought a 5% ownership stake in the team he played for in the NBA, the Los Angeles Lakers, for $10 million in 1994.
In 2010, Johnson sold his stake in the Lakers for a reported $50-60 million. Then, in 2012, Johnson and a group of investors bought the Los Angeles Dodgers of the MLB for $2 billion.
On top of having a past ownership role in the Lakers, Johnson has also previously served as President of basketball operations for the Lakers.
Charitable Acts
In 1991, HIV was basically a death sentence, yet Magic Johnson wasn’t going to sit down and give up. He’s never done that before in his life, and he wouldn’t after his diagnosis.
After contracting HIV, Johnson started the Magic Johnson Foundation to help fight against HIV and the AIDS virus.
The Magic John Foundation has done huge work for research of HIV and Aids. Without its lead in research, we might not be as advanced on controlling the virus as we are today.
The Magic Johnson Foundation has developed programs that help educate the public on the virus, and address the social needs of ethnically diverse, urban communities.
The foundation also offers scholarships to underprivileged people, and it has helped open numerous community empowerment centers.
The Magic Johnson Foundation has even assisted the communities that have been affected by natural disasters and other crises such as Hurricane Katrina, the Detroit water shut-offs and Flint water crisis.
If you’re ever feeling down and out about something going on in your life, just look at Magic Johnson and his story.
Johnson has taught us to never give up and work hard at the things you love in life. Good things will come your way.
