Magic Johnson and the NBA have been linked ever since he “wowed” the world with how well he made plays. Magic was a point guard for the Los Angeles Lakers and a five-time NBA winner. He was an important part of the “Showtime” era.
He had a big effect on the court, but his business and charity work was even bigger. Johnson has done very well since leaving the NBA. He now has a net worth of $620 million thanks to investments, media companies, and partnerships with big brands.
Magic has always been on the side of the poor, and it still does so through programs that help revitalize neighborhoods. Charles Barkley, a sports personality and analyst for “NBA on TNT,” was also surprised and thankful for Johnson’s move.
Early Life
Magic Johnson was born in Lansing, Michigan, on August 14, 1959. His father, Earvin Sr., worked on an assembly line at General Motors. His mother, Christine, cleaned schools. Magic loved basketball from a young age when he watched his stars, like Earl Monroe, play.
Johnson went to Everett High School, and as soon as he could, he joined the basketball team. When he was 15, he got the nickname “Magic” from a local reporter because he had 36 points, 18 rebounds, and 16 assists in one game.
When he was a senior, he led his team to the state title, which made the name stick. Johnson could have gone to any well-known college, but he chose to stay close to home and go to Michigan State University.
In 1979, Magic led his team to the NCAA finals, where they played Larry Bird and Indiana State University. Their matchup was the most-watched college basketball game ever shown on TV, and it started one of the best sports battles ever.
Michigan State then beat Indiana, and Johnson was named the Final Four’s Most Outstanding Player.
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How Much Will Magic Johnson Be Worth in 2023?
The former point guard for the LA Lakers is worth 0 million.
In his 29 years in the NBA, he has made a total of $39.3 million, which includes money for his management and contract duties.
He has a lot of money because he owns shares in the very successful Major League Baseball team LA Dodgers. He also gets a good living as the President of Basketball Operations for the Lakers. He is also a great businessman who has made a lot of money from his deals.
Magic Johnson’s Salary
Magic Johnson’s NBA contracts made him a total of $39.3 million, which included a 25-year, $25 million deal. He got rich by making smart investments. He also made a lot of money when he was in charge of running the Lakers basketball team.
Magic Johnson’s Endorsements
The Los Angeles Lakers’ five-time NBA champion had connections to AMC Theaters, 24-Hour Fitness, T.G.I. Fridays, and Starbucks. He is said to have owned 105 Starbucks stores and had a 4.5% stake in the Los Angeles Lakers.
But he is said to have sold them both for $100 million. Forbes’ list of the highest-paid sports ranks Johnson fifth, with an annual salary of $22 million.
He owns a lot of shares in both the Los Angeles Sparks of the WNBA and the Los Angeles Dodgers of MLB. He owned shares of the Lakers for a while before he sold them.
Career
In 1979, the Los Angeles Lakers took Johnson with the first pick of the draft. He ended up making a deal with the Lakers for $25 million over 25 years. Johnson had a great season in 1981–1982.
He scored 18.6 points, 9.6 rebounds, 9.5 assists, and the most steals in the league, 2.7, per game. During the 1984–85 regular season, he led the Lakers to the 1985 NBA Finals by averaging 18.3 points, 12.6 assists, and 6.2 rebounds per game.
His great play continued over the next few years, and in the 1988–89 NBA season, he averaged 22.5 points, 12.8 assists, and 7.9 rebounds per game. In 1991, he was diagnosed with HIV infection, which changed his life for good.
He told everyone about his illness and chose to leave his job.
Even though he had retired, the US basketball team picked him to play in the 1992 Summer Olympics. During the 1995–96 NBA season, he made a comeback as a player by going back to the Lakers.
In February, he helped beat the Atlanta Hawks with 15 points, 10 boards, and 13 assists. In 32 games, he had an average of 14.6 points, 6.9 assists, and 5.7 rebounds. After the season was over, he quit for good.
