Net Worth

Magic Johnson Net Worth

Updated January 2, 2020
4 min read

How much is Magic Johnson worth? $600 Million

How did Magic Johnson earn his money and wealth?

Born as Earvin Johnson Jr. in Lansing, Michigan to Earvin Sr. and Christine, the love for basketball sprouted in Magic at a very young age. Growing up idolizing players like Bill Russell, Earl Monroe, and Marques Haynes, Magic Johnson used to spend his entire time practicing basketball under the guidance of his father who was a high school basketball player. While at school, he was a preeminent player, once scoring 48 points in a game. Later he went on to join Everett High School where he became subject to racial discrimination due to which he withdrew from the team. While at Everett he scored a triple-double of 36 points, 18 rebounds and 16 assists that earned him the epithet “Magic”.

At the time Magic Johnson passed out of high school, he had two All-state selections to his credit. Following that, he was chosen to the McDonald’s All-American Team in 1977. Johnson joined Michigan State in East Lansing to pursue his major in communication studies. While at college Magic led his team to victory at many instants including during the championship match at NCAA Tournament that was played against Indiana State led by Larry Bird. It was the most-watched college basketball game ever and Magic took over the title of being the “Most Outstanding Player”. Following this, Magic was selected to the All-American Team of 1978-79.

He later launched himself in the Los Angeles Lakers team in 1979 later ending up in NBA All-Rookie Team and also earning himself NBA All-Star Game starter tag. Magic became the sole rookie to be awarded NBA Finals MVP Award. In the year 1981, Johnson signed a 25-year contract worth $25 million with the Los Angeles Lakers. It was the highest ever contract recorded till then in the field of sports. Later in 1992, Johnson got enrolled in the US basketball team for the Summer Olympics. The team was titled “The Dream Team” for its star players including Magic. The team dominated the game bagging a gold medal with a record 8-0.

Johnson was diagnosed with HIV which motivated him to author a book on safe sex post his retirement. He also got engaged in several businesses, toured Asia, Australia, and New Zealand with former NBA players and has also been a commentator for NBC. He made a comeback to Los Angeles Lakers as the coach in 1993. He led the team to victory many a time during his initial coaching days but retired after a few losing matches. In 1994, he bought a 5% share of the team.  He later returned to the team as a player in 1996 at the age of 36 before making a permanent retirement in the same year. In 1994, Johnson formed the Magic Johnson All-Stars team that played across the globe in Europe, Japan, Australia, South America, New Zealand and Israel. Johnson also played for the Swedish club M7 Boras in 1999 and later ended up becoming its co-owner. 

In 1998, Johnson hosted a show on Fox Network called The Magic Hour that lasted for a short period of two months. He owns a record label that goes by the name Magic Johnson Music and has launched many stars including Avant and Janet Jackson. He has also been an NBA commentator on Turner Network Television and a studio analyst on ESPN’s NBA Countdown. His business venture Magic Johnson Enterprises is a big shot in the real estate industry and has a net worth of $700 Million. He has also published his autobiography apart from co-authoring many other books. He has recently purchased Los Angeles Dodgers Baseball Team for $2 billion along with other investors.

What are the most popular movies of Magic Johnson?

  • Obsessed (2009)
  • Hair Show (2004)
  • Brown Sugar (2002)

Read More: Sports Figure Who Deserve Their Own Movies

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