Magic Johnson Net Worth | Contract & Endorsements

An American former professional basketball player and frequently considered the most significant point guard of all time, Magic Johnson has amassed around $600 million.

In 1959, Earvin “Magic” Johnson Jr. was born in the city of Lansing, Michigan. As a child of working-class parents, Johnson quickly developed a passion for basketball.

Johnson was a standout in high school, putting up 30 points and triple-doubles regularly.

Likewise, his prolific scoring ability equipped with his skill and finesse on the court earned Johnson the nickname ‘Magic.’

Magic Johson holding an NBA cup
Magic Johson holding an NBA cup

When it came time to pick a college, everyone looked for Johnson. He chose Michigan State for the next stage to grow his skill and dominance. 

Following his outstanding college career, he was selected first by the Los Angeles Lakers in the NBA draft; he helped guide the Lakers to the NBA finals, where they won the championship, and he was named MVP.

If you want to know how much is Magic Johnson‘s net worth, how many cars he has, who endorses him, his income sources, then you are at the right place. We will be covering all these topics below. 

But first, let us have a quick look at the table below. 

Quick Facts 

Full NameEarvin Johnson Jr.
Birth PlaceLansing, Michigan
BirthdateAugust 14, 1959
NicknamesMagic Johnson
NationalityAmerican
EducationEverett High School and Michigan State University
HoroscopeLeo
Father’s NameEarvin Johnson Sr
Mother’s NameChristine Johnson
SiblingsBrothers: Michael Johnson, Larry Johnson & Lois Johnson
Sisters: Pearl Johnson, Quincy Jonson, Yvonne Johnson, Evelyn Johnson, Kim Johnson & Mary Johnson
Age62 years old
Height6′9″/2.06 m
Weight100 kg/220 lbs.
Shoe SizeSize: 14 (U.S.) Size: 13.5 (UK) Size: 47
ProfessionTalk show host, Basketball player, Actor, Film Producer, Athlete, Entrepreneur, Television producer, Basketball Coach
Net Worth$600 million
Marital statusMarried
Spouse“Cookie” Kelly Johnson
ChildrenEarvin III (with Earlitha), Elisa Johnson (adopted), and Andre Johnson (from his premarital relationship with Melissa Mitchell)
SalaryN/A
Social MediaInstagram, Twitter 
Merch Action Figure, Magic & Bird: A Courtship of Rivals
Last UpdateOctober, 2021

Magic Johnson Net Worth

During Johnson’s NBA career, he earned nearly $40 million in salary. Magic Johnson Enterprises, his investment company, currently has $1 billion in assets spread across a variety of sectors.

Given his reputation as a genuine icon and his business acumen, it’s fair to say that his worth will rise in the coming years.

As of 2021, the 62-year-old businessman is worth $600 million in the vicinity.

Magic Johnson: House 

Now retired, Johnson’s most well-known real estate asset is a Beverly Hills home he shares with his partner. In addition, the two also own a Tuscan-style beach house located at the heart of Dana Point, Orange County in California. 

Likewise, they previously owned a home in Napili, Hawaii. Since it was too far away for their children to visit, the thoughtful couple turned it in for the beach house about 75 miles south of Beverly Hills. 

Rolando Blackman | Stats, Wife & Net Worth >>

Magic Johnson: Cars 

Moving on to cars, the former player adores and has a lovely car collection. The most expensive car he owns is the Rolls-Royce Phantom Drophead Coupe.

It is a rare one as only 237 of them has been sold worldwide. 

Similarly, Johnson drives a 2006 Lincoln Navigator worth $55,000, a Mercedes-Benz G63 for $147,500, and a Bentley Continental for $200,000. 

Johnson's Car Collection
Johnson’s Car Collection

Also, Earvin has added Mercedes-Benz SL 500 Roadster for $113,500 and a Rolls-Royce WRAITH for $462,000 to his collections. 

Check out Magic Johnson’s autographed framed jersey!

Magic Johnson: Lifestyle & Vacations

While the show’s charter guests pay a lot of money for their three or four-day cruise, it’s nothing compared to how NBA legend Earvin “Magic” Johnson and other stars travel.

However, he doesn’t go on vacation for just seven days, despite spending$1 million a week.

Johnson announced that he would be spending about five weeks aboard the luxury yacht and shared a fun photo taken during dinner.

The former point guard’s most recent yacht holiday is his most luxurious to date.

In 2017, he chartered a new yacht for around $700,000 per week. Siren is a 241-foot ship that is currently available for $628,500 per week.

Likewise, Johnson and his wife Cookie welcomed some of their celebrity friends for their journey.

Magic Johnson: Charity

The American player founded his Magic Johnson Foundation in 1991 as a single-disease group dedicated to raising funds for HIV/AIDS education and prevention services in the community.

Most of these charities are made to help people at risk of AIDS/HIV, Parkinson’s disease, paralysis, diabetes, and more.

Benson Mayowa Bio: Contract, Stats, Draft, Salary & Hawks >>

Magic Johnson: Movies, Investments & Endorsements

By the end of his NBA career, Johnson earned $40 million in total. After retirement, Magic showed interest in the investment world.

For all of the investments he intended to make, he established ‘MagicJohnson Enterprises.’

Among his early investments were: 125 Starbucks locations (Johnson was the first “outside owner” of a Starbucks location.

To cater to his market, he also opened locations in cities and changed the menu) Malls and movie theaters.

Also, the point guard invested in sporting clubs in addition to basketball. In just three years, he made a $700 million investment in LAFC, Major League Soccer.

Johnson also purchased the WNBA’s LA Sparks from the Los Angeles Dodgers in 2014, along with owner Mark R. Walter.

And speaking about the Dodgers, by $50 million, Johnson took part in their purchase of $2 billion.

If you are interested in buying Magic Johnson’s Entourage T-shirt, check out the given link. 

Book Publications

Both Magic with Richard Levin (1983) and Magic’s Touch with Roy S. Johnson (1989) are fascinating early biographies, but they were published before Johnson’s career was cut short by a devastating discovery.

Furthermore, Magic Johnson: My Life is an essential and well-written biography. 

Magic Johnson's biography
Magic Johnson’s biography

It includes messages to young people is included in the book, demonstrating Johnson’s sincere regard for them.

Magic Johnson: Career

The Los Angeles Lakers chose Magic as the first in general determination in the 1979 NBA draft.

Enchantment and colleague Kareem Abdul Jabbar drove the Lakers to the NBA title in Magic’s first year recruit season, and he was named MVP of the NBA Finals.

In the years 1980 till 1988, Magic won five NBA titles with the Lakers. During these following years, he was named NBA Finals MVP multiple times.

In 1987 – 1990, he was named NBA Most Significant Player multiple times.

He was a double-cross Elite player MVP and went to the Top pick game multiple times. He is generally viewed as the best point keeper ever.

However, Magic’s career was cut short when he contracted HIV in 1991.

But Magic made a comeback to the NBA as the Lakers’ coach. He said that coaching was never in his plans, so he bought a 5% stake in June 1994.

Magic Johnson, then 36 years old, attempted a comeback as a player by rejoining the Lakers for the 1995-96 season.

In the games Johnson played, the Lakers went 22–10, and he regarded his final return as a “success.”

Retirement 

It did not take long for Johnson to retire after the devastating loss of the Lakers to the Houston Rockets.

Likewise, Johnson averaged 17.707 points, 6.559 rebounds in 905 NBA games, and 10.141 career assistsearning19.5 points, 7.2 rebounds, 11.2 assists per game, the most in NBA history.

Johnson shocked the Los Angeles Lakers and the NBA world by stepping down from his post before the team’s final game of the 2018-19 season.

Besides playing, Johnson also has many flourishing business interests and ownership stakes in the Los Angeles Dodgers and Los Angeles FC, even though he no longer plays for the Lakers.

Chris Leak Bio: Stats, NFL, Stats, Wife & Net Worth >>

Interesting Facts about Magic Johnson

  • Former NBA star, Johnson is the CEO and chairman of the Magic Johnson Foundation and Magic Johnson Enterprises.
  • In the 1980s, Johnson explained that he contracted HIV through sexual relationships with numerous female partners.

Quotes

  • “All kids need is a little help, a little hope, and somebody who believes in them.” 
  • “When you face a crisis, you know who your true friends are.” 
  • “If you’re a competitive person, that stays with you. You don’t stop. You always look over your shoulder.”

Social Media 

Twitter: 5.1 million Followers 

Instagram: 2.5 million Followers 

You might be interested in buying Magic Johnson’s autographed items like balls, gloves, cards, and many more. Click to follow!

FAQs

How many Starbucks does Magic Johnson own?

Magic Johnson garnered over $100 million from his 105 Starbucks franchise. 

What team does Magic own?

The former NBA point guard co-owns the Los Angeles Dodgers and Los Angeles Sparks(WNBA) and Los Angeles Football Club(Major League Soccer).

When did Magic Johnson bag the Olympics’ gold medal?

Well, Magic Johnson initially starred in the 1992 Summer Olympics for the U.S. national team. With the team dubbed the “Dream Team,” Magic Johnson gained his first and the only gold medal. 

Which jersey number did Magic Johnson wear?

Magic Johnson wore jersey number 32 for the Los Angeles Lakers and number 33 for the Michigan States Men’s Basketball Team.  

Related articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Share article

Trending

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.