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Magic Johnson Net Worth 2020

AgeSource of Wealth
60Basketball, Investments, Business ventures
SalaryEndorsements
$40 millionNone
ResidenceSponsors
Beverly Hills, California None
Marital StatusCharity
Married (to Earlitha “Cookie” Kelly)Magic Johnson Foundation, Keep A Child Alive, Buoniconti Fund to Cure Paralysis, The Miami Project, St. Anne’s


Earvin “Magic” Johnson Jr. is an American retired basketball player and is the current president of basketball operations of the Los Angeles Lakers who play in the National Basketball Association (NBA). He is also a successful entrepreneur, philanthropist, broadcaster and motivational speaker.


He is well-known to be an advocate of HIV/AIDS prevention and safe sex. He played an astonishing 13 seasons for the Lakers, however had to abruptly end his career after he tested positive for HIV. Since his retirement, Johnson has established himself as a business powerhouse and an inspiring philanthropist.


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An extremely talented point guard, he won the NBA Finals Most Valuable Player Award in his rookie season and guided the LA Lakers to five NBA Championships. In his entire career, he has scored 17,707 points and recorded 10,141 assists, 6,559 rebounds and 1,824 steals. He holds the record for being the NBA’s all time leader in assists per game - 11.2, something which hasn’t been broken till this date.


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He has been inducted twice in the Basketball Hall of Fame and was honored as one of the 50 Greatest Players in NBA History in 1996. He was also named as the greatest point guard of all time by ESPN in 2007. Johnson was a part of the “Dream Team”, the US men’s national basketball team that won the gold medal at the 1992 Olympic Games in Barcelona.


Johnson ranks fifth in the Forbes List of The Highest-Paid Athletes with earnings of $22 million annually. He is a major investor in the MLB franchise Los Angeles Dodgers and the WNBA franchise Los Angeles Sparks. He was also a part owner of the Lakers for several years before he sold his stocks.


What is Magic Johnson's net worth 2020?


Magic Johnson’s estimated net worth is projected to be around $600 million. His shares at the hugely successful franchise LA Dodgers of the MLB yields him a good amount of fortune while he also receives a good amount of pay as the President of Basketball Operations at the Lakers. He is also a great entrepreneur and has made millions from his business deals.


Magic Johnson Investments


He has had partnerships previously with Starbucks, 24 Hour Fitness, T.G.I Fridays, AMC Theatres. He is known to have owned 105 Starbucks outlets and 4.5% stake in the Lakers, however he sold both of them for a reported $100 million.


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He owns a mansion at Beverly Hills and has a car collection featuring Ferrari and BMW, alongside owning a private jet. He has his own foundation called the Magic Johnson Foundation that deals primarily with HIV/AIDS awareness and helping its victims.


FAQs:


1) How is Magic Johnson so rich?

Initially with an NBA career, later on as the President of the Basketball Operations, along with investment in various brands and also owning his own business, Magic Johnson got quite rich.

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