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Magic Johnson is one of the most decorated names in the game of basketball. The five-time NBA champion's embellished career includes the coveted MVP and Finals MVP among other accolades.
Magic Johnson, unfortunately, had to call a quick end to his career in 1996. It was due to testing positive for HIV, in what was then viewed as a career-ending condition.
In the aftermath of his retirement, Johnson created "Magic Johnson Enterprises", an investment company that deals with his major holdings.
On that note, here's a look at some of his major investments.
#1 The LA Lakers
The first big investment Johnson made in sports was in the NBA. In 1995, Johnson bought a 4.5% stake in the Lakers for $10 million. As the NBA grew, the value of the teams escalated — especially the Lakers.
In 2010, the Lakers were worth $607 million. As a result, Johnson’s $10 million investment was worth between $40-$50 million and he sold his stake in the team.
#2 The LA Sparks and LA FC
Magic Johnson invested in sporting teams beyond the basketball world. He invested in Los Angeles FC of Major League Soccer and after only three years, the team is valued at $700 million.
In 2014, Johnson invested in the L.A. Sparks of the WNBA by outright buying the team alongside Los Angeles Dodgers owner Mark R. Walter. Speaking of the Dodgers, Johnson was involved in their $2 billion purchase by putting up $50 million.
#3 Real estate
Johnson has invested in real estate, especially in urban communities. He has partnered with 'Canyon Capital' and financed 30 real estate developments in13 different states. This has generated $2 billion, and his involvement in this type of real estate sums up his approach to growing his wealth.
He was also involved in a joint venture that dealt with the $8 billion rebuild of LaGuardia Airport.
In addition, Magic Johnson owns properties in Beverly Hills, Southern California and Las Vegas.
#4 Tech
'Magic Johnson Enterprises' also invests in new tech that can help improve people’s lives. One such investment is Superheroic, which encourages children to be active through data-informed sneakers.
He has also invested in Uncharted Power: a renewable energy company.
Guess the Lakers players!
