Magic Johnson Net Worth - Pulptastic

Publish date: 2024-06-10

What is Magic Johnson’s net worth, salary and career earnings?

Earvin “Magic” Johnson Jr. is a retired American basketball player and entrepreneur with a net worth of $620 million. He played point guard for the Los Angeles Lakers for 13 seasons, winning the NBA Championship and NBA Finals Most Valuable Player Award in his rookie season. Johnson was selected first overall in the 1979 NBA Draft after winning championships in high school and college. He later became the former president of basketball operations for the Lakers.

Magic Johnson’s Early Life and Basketball Career

Magic Johnson was born on August 14th, 1959 in Lansing, Michigan. He grew up with a passion for basketball, idolizing players like Earl Monroe. Johnson attended Everett High School where he quickly joined the basketball team and earned his nickname “Magic” after scoring a triple-double with 36 points, 18 rebounds, and 16 assists at the age of 15. He led his team to a state championship his senior year.

Despite offers from top colleges, Johnson decided to attend Michigan State University. In 1979, he led his team to the NCAA finals where they faced off against Larry Bird and Indiana State University in what became the most-watched college basketball game ever televised. Michigan State came out on top and Johnson was named Most Outstanding Player of the Final Four.

Magic Johnson’s NBA Career

Magic Johnson was the first overall pick of 1979 draft, chosen by The Los Angeles Lakers. In his rookie season, Magic and teammate Kareem Abdul-Jabbar led the Lakers to the NBA championship where Magic was named the MVP of the NBA Finals. He won five NBA Championships with the Lakers in the years 1980, 1982, 1985, 1987, and 1988, and was the three-time NBA Finals MVP in 1980, 1982, and 1987. Magic was the three-time NBA Most Valuable Player in 1987, 1989, and 1990, and went to the All-Star game 12 times, being a two-time MVP of the All-Star game. He is considered the greatest point guard of all time.

Magic’s career was cut short by his 1991 contraction of the HIV virus. He later returned to the NBA as the coach of the Lakers near the end of the 1993-94 NBA season, but resigned after the season. He instead purchased a 5% share of the team in June 1994.

During the 1995-96 season, then 36-year-old Magic Johnson attempted a comeback as a player and re-joined the Lakers for that season. The Lakers had a record of 22–10 in the games Johnson played, and he considered his final comeback “a success.”After the Lakers lost to the Houston Rockets in the first round of the playoffs, Johnson retired permanently.

In 905 NBA games, Johnson tallied 17,707 points, 6,559 rebounds, and 10,141 assists, for career averages of 19.5 points, 7.2 rebounds, and 11.2 assists per game, the highest assists per game average in NBA history. He holds various records in assists in playoffs and All-Star games.

Magic Johnson’s HIV Announcement and Advocacy

In November 1991, Magic Johnson announced his HIV infection and established the Magic Johnson Foundation to combat the disease. He has since become a prominent advocate for HIV/AIDS prevention and safe sex, as well as an entrepreneur, philanthropist, and broadcaster. Johnson’s public disclosure of his HIV-positive status shattered the misconception at the time that HIV was solely a “gay disease.”

Magic Johnson’s Retirement Business Empire

Since retiring from basketball, Magic Johnson has been anything but idle. He launched a business empire called Magic Johnson Enterprises, which is valued at over $1 billion today and has given him a personal net worth of $600 million.

Magic Johnson Enterprises owns Magic Johnson Theaters, a movie studio, and a promotional marketing company. In 1994, Magic paid $10 million to buy 5% of The Lakers, which he sold in 2010 to billionaire Patrick Soon-Shiong for a reported $50-60 million. He also sold his chain of Starbucks for $75 million in 2010.

On March 27, 2012, Magic and a group of partners purchased The Los Angeles Dodgers from Frank McCourt for $2 billion.

Family Life

Magic Johnson married Earlitha “Cookie” Kelly in 1991 and they have a son, Earvin III (EJ), who is openly gay. The couple also adopted a daughter, Elisa, in 1995. Johnson and his wife reside in Dana Point, California and Beverly Hills.

Johnson also has a son, Andre Johnson, from a previous relationship with Melissa Mitchell. Andre was raised by his mother but spent summers with Johnson and later worked as a marketing director for Magic Johnson Enterprises.

Magic Johnson’s Earnings

Magic Johnson earned a salary of just over $18 million during his playing career, along with earning several million more from endorsements.

Real Estate Holdings of Magic Johnson

Johnson and his wife own a home in Beverly Hills in the gated section known as Beverly Park.

The couple also owns a Tuscan style beach house in Dana Point in Orange County, California.

The couple used to own a house in Napili, Hawaii, but it was too far to get to when their children were growing up so they swapped it for the beach house located about 75 miles south of Beverly Hills.

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