Earvin “Magic” Johnson Jr. was born on August 14, 1959 in Lansing, Michigan, and went on to become one of the most renowned athletes in the world. NBA fans recognise Magic Johnson as one of the greatest point guards of all time, despite his current notoriety for HBO’s take on the Showtime Lakers. With five championships and three NBA Finals Most Valuable Player awards to his name, the Lakers great is a cornerstone of NBA history. In this particular essay, however, we examine Magic Johnson’s wealth in 2022.
In 2022, Magic Johnson Will Be Valued $620 Million.
In 2022, Magic Johnson’s net worth is approximately $620 million. Johnson has a prosperous career on the court, but he has also excelled in other beneficial undertakings away from the court. How did the Lakers legend, who will be 60 years old in 2022, amass an estimated $620 million fortune?
After winning championships in high school and college, the Lakers selected Johnson with the first overall pick (1979). He signed a 25-year, $25 million contract with Los Angeles in the early 1980s. That is correct… 25 years. The agreement began in 1984 and ended in 2009. The plan was for Johnson to join the team’s front office in the future, a plan that was ultimately realised.
In 1991, Johnson announced his retirement after learning that he was HIV-positive. Near the end of the 1993-1994 NBA season, he returned to the league as coach of the Los Angeles Lakers, who had a 28-38 overall record. Five of his former colleagues, including Vlade Divac, Elden Campbell, Tony Smith, Kurt Rambis, James Worthing, and Michael Cooper, were on the roster at the time. Later, Magic would return as a player with the Lakers (1995-1996) before putting up his sneakers for good.
Johnson succeeded Jim Buss as president of basketball operations for the Lakers in February 2017. During his brief executive stint, the team did not make the playoffs, but they were able to recruit LeBron James in 2018. In 2019, Johnson abruptly resigned from the role.
Beyond his stellar playing career, Johnson has demonstrated business acumen. Over the years, he has invested in numerous businesses, including real estate, coffee shops, record labels, movie theatres, and sporting goods stores.
Obviously, this helps to determine Magic Johnson’s net worth in 2022.
He became a minority owner of the Los Angeles Dodgers in March 2012. In 2014, Johnson participated in the acquisition of the WNBA’s Los Angeles Sparks. He has also become a prominent media figure, having appeared on numerous talk and debate shows.
Throughout his NBA career, Johnson made close to $40 million. His investing firm, Magic Johnson Enterprises, now has stakes in several industries worth an estimated $1 billion. Given his standing as a legitimate icon and his financial acumen, it is logical to expect that his worth will increase in the next years.
Johnson has already amassed generational wealth as a result of his non-basketball endeavours, which include commercial deals and a general reputation that leans in favour of him becoming a spokesperson. However, he still has plenty to gain.
Magic undoubtedly has lots of money-making potential left, so we’ll see where he goes from here. However, were you surprised by Magic Johnson’s net worth in 2022?