Magic Johnson Net Worth – How Much Is Magic Johnson Worth

Magic Johnson Net Worth – Magic Johnson is an American former professional basketball player. He is often considered the greatest point guard of all time.

Magic Johnson played 13 seasons in the National Basketball Association (NBA). After winning the National Championship at Michigan State University in 1979, Magic Johnson was the No. 1 overall pick in the 1979 NBA Draft by the Los Angeles Lakers and led the team to five NBA championships during the Showtime era.

Magic Johnson abruptly retired in 1991 after announcing he had HIV, but returned to the All-Star Game in 1992 and was named All-Star MVP. After his teammates protested, he retired again for four years, but returned in 1996 at the age of 36 and played 32 games with the Lakers, his third and final retirement.

Magic Johnson’s professional achievements include three NBA MVP awards, three NBA Finals Most Valuable Player awards, nine NBA Finals appearances, 12 All-Star Games, and nine All-NBA First Team selections. He led the league in regular-season assists four times and led the NBA in assists-per-game average in both the regular season (11.19 assists per game) and the playoffs (12.35 assists per game).

He also holds the career record for most assists in the playoffs. Magic Johnson was a member of the United States Men’s Basketball Team (“Dream Team”) at the 1992 Olympics and won a gold medal at the Barcelona Olympics. After Magic Johnson left the NBA in 1991, he formed the Magic Johnson All-Stars, a fast-paced team that traveled around the world playing exhibition games.

Magic Johnson was named one of the 50 Greatest Players in NBA History in 1996 and was named to the NBA 75th Anniversary Team in 2021. He has also been inducted into the Naismith Memorial Basketball Hall of Fame twice, having been honored for his individual career in 2002 and again as a member of the “Dream Team” in 2010.

Since his retirement, Magic Johnson has been an advocate for HIV/AIDS prevention and safe sex, as well as an entrepreneur, philanthropist, broadcaster and motivational speaker. His public announcement of his HIV-positive status helped dispel the stereotype, still widely held at the time, that HIV was a “gay disease” that heterosexuals need not worry about; his bravery in making this announcement was widely commended.

Magic Johnson has many business interests and was a co-owner of the Lakers for several years, serving as the team’s president of basketball operations from 2017-2019. He was also part of the investor group that acquired the Los Angeles Dodgers in 2012 and the Los Angeles Sparks in 2014, and was part of the owner group that acquired Los Angeles FC (LAFC) of Major League Soccer (MLS) in 2017.

What is Magic Johnson Net Worth

Magic Johnson, one of the richest athletes has a net worth approximately $620 million

Magic Johnson Salary

Magic Johnson’s basketball income was only around $100 million. He earned the rest of his fortune from the business he owns. After retiring from basketball, he founded a company called Magic Johnson Enterprises, which is worth about $1.2 billion in 2021.

Magic Johnson became the first player to earn more than $10 million on a salary of $14.66 million in 1994-95. In 1981, after the 1980-81 season, Magic Johnson signed a 25-year, $25 million contract (equivalent to $75 million in 2021 dollars), making it the most expensive contract in sports history up to that point.

Magic Johnson missed his chance to make $5.2 billion by choosing #Converse over #Nike.Nike offered him $1 for each pair of shoes sold and 100,000 shares, worth $0.18 at the time.

Magic Johnson Career Earnings

Magic Johnson ranks fifth in the Forbes List of The Highest-Paid Athletes with earnings of $22 million annually. He reportedly earned $39.3 million during his NBA career. Magic Johnson officially became a Laker for life in 1981. He signed a $25 million contract for 25 years from 1984 to 2009.

Magic Johnson’s basketball income was only around $100 million. He earned the rest of his fortune from the business he owns. After retiring from basketball, he founded a company called Magic Johnson Enterprises, which is worth about $1.2 billion in 2021.

Magic Johnson Early Life

Ervin Johnson Jr. was born in Lansing, Michigan, to Ervin Sr., a General Motors assembly worker, and Christine, a school janitor. Magic Johnson had six siblings and three half-brothers from his father’s previous marriage. He was influenced by his parents’ strong work ethic.

Magic Johnson fell in love with basketball from a young age. His favorite basketball player was Bill Russell, who admired his multiple championships more than his athleticism. He also worshiped players like Earl Monroe and Marquez Haynes and trained like them “all day long”.

Magic Johnson was born into a sports family. His father played high school basketball in his home state of Mississippi, and Magic Johnson learned every inch of the game from him. Johnson’s mother, also from North Carolina, played basketball as a child and grew up watching her brothers play.

By eighth grade, Magic Johnson began thinking about his future in basketball. He became a dominant player in middle school, at one point scoring 48 points in one game. Magic Johnson was excited to play at Sexton High School, a school with a highly successful basketball history with his team that happens to be five blocks from his home. His plans changed dramatically when he learned that instead of going to the predominantly black Sexton High School, he would be bused to the predominantly white Everett High School.

Magic Johnson’s sister, Pearl, and brother, Larry, took a bus to Everett last year and didn’t enjoy it. Racist incidents erupted, including black students being stoned on buses and white parents refusing to send their children to school. Larry was kicked out of the basketball team after a collision during practice and begged his brother not to play.

Magic Johnson joins the basketball team, but a few days later becomes angry when his new teammates ignore him during practice and don’t even give him the ball. He nearly got into a fight with another player before head coach George Fox intervened. Eventually, Magic Johnson accepted his situation and a small group of black students saw him as their leader.

Magic Johnson was first called “Magic” when he achieved a triple-double of 36 points, 18 rebounds and 16 assists at the age of 15 during his sophomore year at Everett High School. After the game, Lansing State Journal sportswriter Fred Staley, Jr. gave Magic Johnson a nickname, but Johnson’s mother, a devout Christian, believed the name to be blasphemous. In high school, Magic Johnson led Everett to a 27-1 record, averaging 28.8 points and 16.8 rebounds per game, and leading the team to an overtime win at the state championship game.

Magic Johnson dedicated the championship win to his close friend Reggie Chastain, who died in a car accident last summer. Magic Johnson credited Chastain for his growth as a basketball player and as a person. Magic Johnson and Chastain were almost always together, playing basketball and driving around. Magic Johnson, who finished high school with two all-state selections, was considered the best high school player from Michigan at the time. He was also named the first McDonald’s All-American on his team to compete in the 1977 Capital Classic.

Magic Johnson NBA Career

Magic Johnson was drafted first overall by the Los Angeles Lakers in 1979. Magic Johnson averaged 18.0 points, 7.7 rebounds, and 7.3 assists per game this season, and was named to the NBA All-Rookie Team and was named an NBA All-Star Game starter.

The Lakers went 60-22 in the regular season and advanced to the 1980 NBA Finals against forward Julius Erving’s Philadelphia 76ers. The Lakers led the series 3-2, but Abdul-Jabbar, who was averaging 33 points per game in the series, sprained his ankle in Game 5 and missed Game 6. Head coach Paul West, who replaced McKinney early in the season after suffering a near-fatal cycling accident, decided to start Magic Johnson at center for Game 6.

Magic Johnson averaged 42 points, 15 rebounds, seven assists, and three steals in a 123-107 win while playing guard, forward, and center in various parts of the game. Magic Johnson was the only rookie to ever win an NBA Finals MVP award, and his outstanding performance is still considered one of the greatest in NBA history. He was also one of the four players to win back-to-back NCAA and NBA championships.

Magic Johnson was sidelined early in the 1980-81 season after tearing cartilage in his left knee. He missed 45 games, and said rehab was the most “devastating” he had ever experienced. Magic Johnson returned before the 1981 playoffs began, but then-assistant and future Lakers head coach Pat Riley later said Magic Johnson’s long-awaited return made the Lakers a “divided team.” The 54-win Lakers went 40-42 in the first round of the playoffs against the Houston Rockets, and in Game 3, Houston beat the Lakers 2-1 after Magic Johnson shot with two seconds remaining.

During the 1982–83 NBA season, Magic Johnson’s first of nine consecutive double-double seasons, he averaged 16.8 points, 10.5 assists, and 8.6 rebounds per game, and earned his first All-NBA First Team nomination. In the 1984–85 regular season, Magic Johnson averaged 18.3 points, 12.6 assists, and 6.2 rebounds per game, and led the Lakers into the 1985 NBA Finals, where they faced the Celtics again.

In the 1988–89 NBA season, Magic Johnson’s 22.5 points, 12.8 assists, and 7.9 rebounds per game earned him his second MVP award, and the Lakers reached the 1989 NBA Finals, in which they again faced the Pistons. However, after Johnson went down with a hamstring injury in Game 2, the Lakers were no match for the Pistons, who swept them 4–0.

Magic Johnson Retirement

After a physical before the 1991-92 NBA season, Magic Johnson determined he tested positive for HIV. At a press conference on November 7, 1991, Magic Johnson publicly announced his immediate retirement. He explained that his wife Cookie and his unborn baby are HIV-free and that he will dedicate his life to “fighting this deadly disease.”

Magic Johnson abruptly retired in 1991 after announcing he had HIV, but returned to the All-Star Game in 1992 and was named All-Star MVP. After his teammates protested, he retired again for four years, but returned in 1996 at the age of 36 and played 32 games with the Lakers, his third and final retirement.

Since his retirement, Magic Johnson has been an advocate for HIV/AIDS prevention and safe sex, as well as an entrepreneur, philanthropist, broadcaster and motivational speaker. His public announcement of his HIV-positive status helped dispel the stereotype, still widely held at the time, that HIV was a “gay disease” that heterosexuals need not worry about; his bravery in making this announcement was widely commended.

Magic Johnson Business

Magic Johnson has many business interests and was a co-owner of the Lakers for several years, serving as the team’s president of basketball operations from 2017-2019. He was also part of the investor group that acquired the Los Angeles Dodgers in 2012 and the Los Angeles Sparks in 2014 and was part of the ownership group that acquired Los Angeles FC (LAFC) of Major League Soccer (MLS) in 2017.

Magic Johnson’s Personal Life

Magic Johnson fathered a son for the first time in 1981 when Andre Johnson was born to Melissa Mitchell. Andre was raised by his mother, but he visited Magic Johnson every summer before working as a marketing director for Magic Johnson Enterprises.

In 1991, Magic Johnson married Arisa “Cookie” Kelly in a small wedding attended by Thomas, Aguirre, and Herb Williams in Lansing. Magic Johnson and Cookie have an openly gay son, Irvine III (“EJ”), who is the star of the reality show Rich Kids of Beverly Hills. The couple adopted a daughter, Elisa, in 1995. Magic Johnson lives in Beverly Hills and has a vacation home in Dana Point, California.

Magic Johnson Salary Highlights

Magic Johnson became the first player to earn more than $10 million on a salary of $14.66 million in 1994-95. In 1981, after the 1980-81 season, Magic Johnson signed a 25-year, $25 million contract (equivalent to $75 million in 2021 dollars), making it the most expensive contract in sports history up to that point.

Magic Johnson Real Estate

Magic Johnson has owned many extravagant estates in the Los Angeles area over the years and with his company partnering with another, has some real estate all over the state.

Magic Johnson Earnings

Magic Johnson ranks fifth in the Forbes List of The Highest-Paid Athletes with earnings of $22 million annually. He reportedly earned $39.3 million during his NBA career. Magic Johnson officially became a Laker for Life in 1981. He signed a $25 million contract for 25 years from 1984 to 2009.

Magic Johnson’s basketball income was only around $100 million. He earned the rest of his fortune from the business he owns. After retiring from basketball, he founded a company called Magic Johnson Enterprises, which is worth about $1.2 billion in 2021.

Source: www.Ghgossip.com

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