Magic Johnson Net Worth (Updated 2022) and How He Earned It?

“Magic” Johnson Jr. is an American former professional basketball player and the former head of basketball operations for the Los Angeles Lakers of the NBA. What are Magic Johnson net worth and career history? Read this article for more information about Magic Johnson.

How Much Is Magic Johnson Net Worth?

Former NBA star and entrepreneur Earvin “Magic” Johnson Jr. has an estimated net worth of $620 million. When he was drafted first overall in the 1979 NBA Draft by the Los Angeles Lakers, he had already won two high school and collegiate titles. He spent 13 seasons as a point guard for the Los Angeles Lakers. NBA Finals MVP and NBA Champion in his debut season. Johnson formerly served as the Lakers’ executive vice president of basketball operations.

Life In The Beginning

Magic Johnson was born in Lansing, Michigan, on August 14, 1959. Christine was a school janitor and his father Earvin Sr. worked on an assembly line at General Motors. Magic grew up idolizing players like Earl Monroe, who instilled a lifelong passion for the game in him. Johnson attended Everett High School, where he rapidly became a member of the basketball team. While playing for a local team at the age of 15, a sportswriter nicknamed him “Magic” for his 36 points, 18 rebounds, and 16 assists triple-double.

Magic Johnson net worth
Magic Johnson net worth

After leading his team to the state championship in his senior year, his name became synonymous with excellence in the field of athletics. Johnson had offers from every high-profile college, but he chose to attend Michigan State University since it was the most convenient option for him and his family. Against Indiana State and their great player Larry Bird, Magic led his club to the 1979 NCAA finals.

Their showdown became the most-watched college basketball game ever aired and started one of the biggest rivalries in sports history. They faced off against one other. When Michigan State defeated Indiana in the Final Four, Johnson was awarded the game’s most valuable player.

The NBA’s Playing Career

The Los Angeles Lakers selected Magic in the first round of the 1979 NBA draft. In his first season, Magic and colleague Kareem Abdul-Jabbar led the Lakers to the NBA title where Magic was awarded the MVP of the NBA Finals. For the Lakers, Magic won five NBA championships between 1980 and 1988. In 1980, 1982, and 1987, he won the NBA Finals MVP award three times in a row. In 1987, 1989, and 1990, he was named the NBA’s Most Valuable Player.

He went to the All-Star game 12 times and was a two-time MVP of the All-Star game. He is considered the greatest point guard of all time.

The HIV infection he contracted in 1991 ended Magic’s career.

Late in the 1993-94 NBA season, Magic was hired as the Lakers’ head coach. Randy Pfund and Bill Bertka were replaced by him at the request of the team owner Jerry Buss. In Johnson’s first six games as head coach, the Lakers went 5-1, but after dropping their next five games, Johnson announced his resignation as coach at the end of the season. After a 10-game losing skid, the Lakers concluded the season with a 5–11 record with Johnson as head coach.

In June 1994, he bought a 5% stake in the team instead of coaching, claiming it was never in his plans. As a 36-year-old Magic Johnson, he re-joined the Los Angeles Lakers for the 1995-96 NBA season. It was Johnson’s final return that he considered a “success,” as the Lakers went 22–10 in his appearances. Johnson announced his retirement from the NBA after the Lakers’ first-round playoff loss to the Houston Rockets.

A career average of 19.5 points per game, 7.2 rebounds per game, and 11.2 assists per game ranks Johnson as one of the greatest point guards in NBA history, with a total of 17,707 points and 6,559 rebounds. Johnson has the most postseason assists (24) and the most in a single playoff game (21) as well as the most in a single Finals game (21). (2,346).

He is the first player in NBA Finals history to average 12 assists a game, having done so six times. To his credit, he is the All-Star Game’s all-time assist leader (22) and the All-Star Game’s all-time assist leader (22). (127).

The Entrepreneurial Income

Magic’s retirement has been anything from tranquil. After he retired, he started a company named Magic Johnson Enterprises, which is now worth over $1 billion and has earned Magic a personal net worth of $600 million. A film studio and a promotional marketing organization are owned by Magic Johnson Enterprises.

It was in 1994 when Magic paid $10 million to acquire 5% of the Los Angeles Lakers, which he sold for $50-60 million in 2010. Johnson’s Starbucks chain was sold for $75 million in 2010 as well. After acquiring the Los Angeles Dodgers from Frank McCourt for $2 billion on March 27, 2012, Magic Johnson and his partners sold the team. Here’s where you can find out more: Dodgers owner Magic Johnson pays $2 billion for the team

Personal Life

A small wedding was held in Lansing, Michigan, in 1991 for Johnson and Earlitha “Cookie” Kelly. Earvin III (EJ), the couple’s son born in 1992, is out as gay. The reality television show Rich Kids of Beverly Hills featured EJ. In 1995, Magic and Cookie brought their daughter Elisa into the family. They live in Dana Point (California), as well as Beverly Hills (Arizona).

From a previous relationship, Johnson also has a son. Melissa Mitchell gave birth to Andre Johnson in 1981. Even though Andre was raised solely by his mother, he spent every summer with Magic Johnson, who ultimately hired him as a marketing director for his company.

Salary From Profession

While he was a professional basketball player, Magic earned more than $18 million in salary and endorsements.

Real Estate

It is located in Beverly Park, a private community of Beverly Hills. The pair also own a beach property in Dana Point, Orange County, California, decorated in Tuscan style. Their previous home in Napili, Hawaii, was too far away for their children to visit as they grew older, so they traded it in for a beach house about 75 miles away.

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