Magic Johnson Net Worth – Magic Johnson is an American former professional basketball player. He is often considered the greatest point guard of all time.
Magic Johnson played 13 seasons in the National Basketball Association (NBA). After winning the National Championship at Michigan State University in 1979, Magic Johnson was the No. 1 overall pick in the 1979 NBA Draft by the Los Angeles Lakers and led the team to five NBA championships during the Showtime era.
Magic Johnson abruptly retired in 1991 after announcing he had HIV, but returned to the All-Star Game in 1992 and was named All-Star MVP. After his teammates protested, he retired again for four years, but returned in 1996 at the age of 36 and played 32 games with the Lakers, his third and final retirement.
Magic Johnson’s professional achievements include three NBA MVP awards, three NBA Finals Most Valuable Player awards, nine NBA Finals appearances, 12 All-Star Games, and nine All-NBA First Team selections. He led the league in regular-season assists four times and led the NBA in assists-per-game average in both the regular season (11.19 assists per game) and the playoffs (12.35 assists per game).
He also holds the career record for most assists in the playoffs. Magic Johnson was a member of the United States Men’s Basketball Team (“Dream Team”) at the 1992 Olympics and won a gold medal at the Barcelona Olympics. After Magic Johnson left the NBA in 1991, he formed the Magic Johnson All-Stars, a fast-paced team that traveled around the world playing exhibition games.
Magic Johnson was named one of the 50 Greatest Players in NBA History in 1996 and was named to the NBA 75th Anniversary Team in 2021. He has also been inducted into the Naismith Memorial Basketball Hall of Fame twice, having been honored for his individual career in 2002 and again as a member of the “Dream Team” in 2010.
Since his retirement, Magic Johnson has been an advocate for HIV/AIDS prevention and safe sex, as well as an entrepreneur, philanthropist, broadcaster and motivational speaker. His public announcement of his HIV-positive status helped dispel the stereotype, still widely held at the time, that HIV was a “gay disease” that heterosexuals need not worry about; his bravery in making this announcement was widely commended.
Magic Johnson has many business interests and was a co-owner of the Lakers for several years, serving as the team’s president of basketball operations from 2017-2019. He was also part of the investor group that acquired the Los Angeles Dodgers in 2012 and the Los Angeles Sparks in 2014, and was part of the owner group that acquired Los Angeles FC (LAFC) of Major League Soccer (MLS) in 2017.
What is Magic Johnson Net Worth
Magic Johnson, one of the richest athletes has a net worth approximately $620 million
Magic Johnson Salary
Magic Johnson’s basketball income was only around $100 million. He earned the rest of his fortune from the business he owns. After retiring from basketball, he founded a company called Magic Johnson Enterprises, which is worth about $1.2 billion in 2021.
Magic Johnson became the first player to earn more than $10 million on a salary of $14.66 million in 1994-95. In 1981, after the 1980-81 season, Magic Johnson signed a 25-year, $25 million contract (equivalent to $75 million in 2021 dollars), making it the most expensive contract in sports history up to that point.
Magic Johnson missed his chance to make $5.2 billion by choosing #Converse over #Nike.
Nike offered him $1 for each pair of shoes sold and 100,000 shares, worth $0.18 at the time.
