Magic Johnson Net Worth & Lifestyle

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One of the NBA’s most illustrious names, Magic Johnson net worth is $600 million.

Magic is a basketball player from the United States who won five NBA titles for the Los Angeles Lakers.

He was a fierce competitor who led his high school team to a state title in 1977.

In 1979, he led Michigan State University to the National Collegiate Athletic Association title, defeating Larry Bird and Indiana State.

Magic Johnson (Source: Pinterest)

On the 14th of August, 1959, Magic Johnson was born in Lansing, Michigan.

His father, Earvin Sr., worked on the assembly line at General Motors, while his mother, Christine, worked as a janitor in a school.

Magic developed a strong interest in basketball at a young age after seeing his role models on the court.

He got the nickname “Magic” in high school for his imaginative and entertaining ballhandling.

Magic Johnson | Quick Facts

Let’s take a peek at Magic Johnson’s details.

Full NameEarvin Johnson Jr.
Celebrated AsMagic Johnson
Date of Birth August 14, 1959
Place of BirthLansing, Michigan
ResidencyCalifornia, USA
Age63 Years Old
NationalityAmerican
Ethnicity African American
GenderMale
HoroscopeLeo
ReligionChristian
FatherEarvin Johnson sr.
MotherChristine Johnson
Relationship StatusMarried
WifeCookie Johnson
Children EJ Johnson, Andre Johnson, Elisa Johnson
Height6 ft 9 in
Weight100 kg
Eye ColorBlack
Hair ColorBlack
EducationMichigan State University
ProfessionBasketball Player, Coach, Financier, Businessman, Film Producer, Talkshow Host, Motivational Speaker, Sports Commentator
 Social Media Instagram, Twitter
Net Worth$600 million
MerchFunko POP, NBA Jersey, Signed Basketball
Last UpdateAugust 2023

Magic Johnson | Net Worth and Income

Magic Johnson has an astounding net worth of $600 million as of August 2023.

He earned over $18 million in salary and several million more in endorsements during his playing days.

After retiring from professional basketball in 1996, Johnson decided to pursue a career in business.

Upon retirement, he founded Magic Johnson Enterprises, which further multiplied his fortune. 

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Apart from business ventures, he earned well from his multiple lucrative endorsement deals.

Magic Johnson Net Worth in Different Currencies

Let’s have a look into Magic Johnson’s net worth in different currencies, including the cryptocurrency BitCoin.

CurrencyNet Worth
Euro€ 508.743 million
Pound Sterling£ 436.125 million
Australian DollarA$ 822.373 million
Canadian DollarC$ 756.105 million
Indian Rupee₹ 43,935,270,000
Bitcoin฿ 12,558.29

Magic Johnson | House and Cars

House

Johnson and his wife own a property in a gated community of Beverly Hills, California.

In addition, the pair owns a Tuscan-style beach villa in Dana Point, California.

Magic Johnson HouseMagic Johnson House (Source: architecturaldigest.com)

The couple used to own a home in Napili-Honokowai, Hawaii, but it was too far away for their children to visit when they were younger.

As a result, they traded it in for a beach house about 75 miles south of Beverly Hills. It is worth about $2.3 million.

Cars

NBA superstars usually show off their fortune in massively expensive and luxurious cars and automobiles.

Legendary Magic Johnson also has some of the interesting cars in his collection.

Some of them were actually customized just for him.

He has a 2006 Lincoln Mark LT.

It was customized by Magic himself and interestingly, its wheel actually costs more than the car of the same model available in the market.

Similarly, Johnson has a couple of Mercedes-Benz 450 SLs, which he bought in the mid-1980s.

Magic in his carMagic in His Car (Source: dailymail.co.uk)

Moreover, he also owns a Rolls-Royce Phantom Drophead Coupe worth $500,000.

Jet

Magic is the proud owner of a Gulfstream G-III private jet.

Private Jet of Magic JohnsonPrivate Jet of Magic Johnson (Source: instagram.com)

Its tail number (N32MJ) includes his jersey number and initials from his time with the Lakers.

Magic Johnson | Lifestyle and vacations

Lifestyle

Due to the tremendous sums of money he has amassed as a great basketball superstar, Magic Johnson lives a very extravagant lifestyle.

Magic loved to play basketball ever since his childhood days.

Maybe his passion for the sport made him one of the greatest ever basketball players of all time.

Moreover, Johnson has a daughter named Elisa, whom he and his wife Cookie adopted in 1995.

He also has a son from a prior relationship, Andre Johnson.

Vacations

Magic spends a massive amount of money on vacation.

Recently he rented a $1 million superyacht to vacay across the European continent.

The yacht ACQUILLA features a large owner’s cabin with a massage room, salon, and private terrace overlooking the bow, as well as six more big guest suites.

There’s also a movie theater, a gym, and two additional massage rooms.

Magic on a vacation with his familyOn vacation With his Family (Source: wionews.com)

Magic Johnson’s favorite holiday destinations are Malibu, Las Vegas, Spain, and turkey.

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Magic Johnson | Charity

Since his retirement, Johnson has worked as a businessman, philanthropist, broadcaster, motivational speaker, and advocate for HIV/AIDS prevention and safe sex.

Since his HIV diagnosis, Johnson has been an outspoken advocate for the HIV community.

He was the keynote speaker at the United Nations World AIDS Day Conference in 1999.

Magic Johnson is also the chairman and CEO of the Magic Johnson Foundation.

Magic Johnson foundationMagic Johnson Foundation (Source: dogoodla.org)

In 1991, the Magic Johnson Foundation was established with the mission of “fighting HIV/AIDS via grantmaking.”

According to the foundation’s website, “the Foundation strives to develop programs and fund community-based organizations that tackle the educational, health and social needs of ethnically diverse metropolitan neighborhoods.”

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Magic Johnson | Investments, Endorsements and Book Publications

Investments

After his retirement, he founded the Magic Johnson Enterprises business empire, which is now worth over $1 billion.

Magic Johnson Enterprises owns radio stations, movie theaters, publications, real estate, a cable network, sports teams, and invests in corporate partnerships.

In addition, he owns a number of restaurants in the United States, including T.G.I. Friday’s and Burger King.

Johnson launched SodexoMAGIC, LLC, a new joint venture with Sodexo, one of the world’s top food services and facilities management services, in 2006. Johnson owns 51 percent of SodexoMAGIC, LLC.

Magic believed that ownership would be much better than coaching after his brief tenure as a coach.

In the summer of 1994, he paid $10 million for a 5% stake in the Lakers, which he retained until 2010.

Magic bought a 5% stake in Lakers for $10 million. He sold his stake to billionaire Patrick Soon-Shiong for $50-60 million in 2010.

Furthermore, Magic and a group of partners purchased the Los Angeles Dodgers from Frank McCourt for $2 billion on 27th March 2012.

Magic also partnered with MCA Records in 2000, which was later renamed to Magic Johnson Music.

Avant, an R&B performer, was Magic Johnson Music’s first signing.

Magic persuaded Starbucks’ owner that the franchise could succeed in urban areas, and he backed up his claim by purchasing 125 stores.

In 2010, he called it a day after a fruitful 12-year engagement with the company and sold the franchise for over $75 million.

Magic had a broad investment strategy, and the movie theater industry was one of his choices.

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According to Wikipedia, he sold Magic Johnson Theaters to Loews Cineplex Entertainment in 2004, and the original Magic Johnson Theater, which was located in the Baldwin Hills Crenshaw Plaza, closed in 2010.

As a result, he reopened it the following year under a new name.

Apart from his multiple businesses, Magic has invested in video games.

He jumped on board as an early investor in aXiomatic eSports, Team Liquid’s parent company.

Book Publications

Magic is a published author.

After he retired from professional basketball, he went on to several ventures and became hugely successful in them.

He wanted to give his business wisdom to his fans and well-wishers, and thus he published a book, 32 Ways to Be a Champion in Business, in 2008.

Magic Johnson BookMagic Johnson Book (Source: amazon.com)

Furthermore, he also published another book entitled When the Game Was Our, which discussed his old rivalry with Larry Bird (NBA Player).

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Magic Johnson | Career

Magic took over as coach of the Lakers at the close of the 1994 season upon the request of then-owner Jerry Buss, but the club finished with a 5-11 record.

In 1996, Johnson was named one of the NBA’s 50 All-Time Great Players.

Johnson’s career highlights include three NBA MVP trophies, nine NBA finals appearances, twelve All-Star games, and ten All-NBA First and Second Team selections.

Magic Johnson recently accepted a new advisory role for the Los Angeles Lakers.

Interesting Facts About Magic Johnson

  • Magic Johnson won a gold medal at the ’92 Olympics.
  • Interestingly, he was also a late-night talk show host.
  • He has been inducted into the basketball Hall of Fame for a record two times.

FAQs

Why is Johnson referred to as “Magic”?

He was a basketball lover who would get up at 7:30 a.m. to practice.

At Everett High School, Johnson earned the nickname “Magic” after a reporter witnessed him post 36 points, 16 assists, and 16 rebounds in a single match.

Why did Magic Johnson end his career?

Magic left the Los Angeles Lakers in 1991 after admitting that he had tested positive for HIV. However, he returned for one more season in 1996.

Why is Magic Johnson regarded as the most outstanding point guard of all time?

Magic’s natural ability to spot people sprinting to the hoop in transition and deliver the pass at the perfect moment was remarkable.

On the other hand, Magic is the best point guard of all time because of his ability to execute passes with such accuracy.

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Categories: Net Worth
Source: ASIA EDU

Madhuri Shetty
Manoj Gadtaula

Manoj Gadtaula is a young Indian man from Mangalore who is constantly on the lookout for new things and loves to explore. Madhuri has a great passion for helping others and motivating people. She researched the careers, biographies, lifestyles, and net worths of celebrities..

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