Magic Johnson Net Worth: What Is Magic Johnson’s Net Worth, Salary and Career Earnings?

Magic Johnson Jr. is a retired American professional basketball player and the former president of the Los Angeles Lakers in the NBA. He spent 13 seasons as a point guard for the Los Angeles Lakers.

Magic Johnson Net Worth

The Lakers selected Johnson first overall in the 1979 NBA draught after he had won numerous championships throughout his time in high school and college.

Early Life

Lansing, Michigan was the location where Magic Johnson spent his first day of life on August 14, 1959. His mother, Christine, worked as a janitor at an elementary school while his father, Earvin Sr., worked on an assembly line at General Motors. Magic was inspired to play basketball at a young age by players such as Earl Monroe, who were his childhood heroes.

After graduating from Everett Middle School, Johnson enrolled at Everett High School, where he immediately joined the school’s basketball team. When the player was only 15 years old, he recorded a triple-double consisting of 36 points, 18 rebounds, and 16 assists, prompting a local sportswriter to give him the nickname “Magic.” When he was a senior, he captained the team that won the state title, which cemented his reputation as a leader.

Johnson was offered admission to every prestigious college in the country; nonetheless, he chose to attend Michigan State University because of its proximity to his home. In 1979, Magic guided his team all the way to the championship game of the NCAA tournament, where they squared off against Indiana State University and their superstar player, Larry Bird.

Their meeting sparked one of the most intense rivalries in the annals of sports competition by becoming the collegiate basketball game with the highest viewership in the history of the broadcast competition. The game ended with Michigan State prevailing against Indiana, with Johnson being recognized as the tournament’s Most Outstanding Player.

Personal Life

In 1991, Johnson tied the knot with Earlitha “Cookie” Kelly in a low-key ceremony that took place in Lansing, Michigan. The couple has a son named Earvin III (also known as EJ), who was born in 1992 and is out and proudly gay. On the reality television show “Rich Kids of Beverly Hills,” EJ made an appearance. In 1995, Magic and Cookie became Elisa’s parents through the adoption of a daughter. Johnson and his wife both have residences in the Beverly Hills and Dana Point areas of California.

In addition, Johnson is a father to a son who was the product of a previous relationship. Andre Johnson was born to Melissa Mitchell in 1981. The year was 1981. Andre was raised by his mother, but he spent time with Johnson every summer and subsequently served as the marketing director for Magic Johnson Enterprises. Although Andre was reared by his mother, he spent time with Johnson every summer.

NBA Career

The Los Angeles Lakers used the first pick in the 1979 draught to choose Magic, making him the overall number one pick. Magic and his colleague Kareem Abdul-Jabbar led the Los Angeles Lakers to the NBA title during Magic’s rookie season, and Magic was chosen the Most Valuable Player of the NBA Finals. In the years 1980, 1982, 1985, 1987, and 1988, Magic led the Los Angeles Lakers to five NBA titles, all of which they won.

He won Most Valuable Player honors in the NBA Finals in 1980, 1982, and 1987 respectively. He won the Most Valuable Player award in the National Basketball Association (NBA) in 1987, 1989, and 1990. He was selected for the All-Star game a total of 12 times and was named the event’s Most Valuable Player twice. It is generally agreed that he was the best point guard in the history of basketball.

Magic Johnson Net Worth

Near the close of the 1993–1994 NBA season, Magic Johnson returned to the National Basketball Association (NBA) as the head coach of the Los Angeles Lakers. At the insistence of the team owner, Jerry Buss, he took the places of Randy Pfund and Bill Bertka. The Lakers started off well under Johnson’s coaching, winning five of their first six games.

However, after losing their next five games in a row, Johnson announced that he would be quitting as coach at the end of the season. The Lakers won five of their first six games under Johnson’s coaching. The Lakers concluded the season on a losing skid of 10 games, and Johnson finished his time as head coach with a record of 5–11. According to him, coaching was never his desired job; therefore, in June of 1994, he decided to purchase a five percent part of the team instead.

Magic Johnson, who was 36 years old at the time, tried to make a comeback as a player during the 1995-1996 season and re-joined the Los Angeles Lakers for that season. Johnson’s final comeback was judged by him to be “a success” because the Lakers finished the games in which he participated with a record of 22–10. Johnson decided to hang up his sneakers for good after the Los Angeles Lakers were eliminated from the playoffs in the first round by the Houston Rockets.

Magic the Entrepreneur

Magic’s retirement has not been a peaceful one by any means. After retiring from professional basketball, he started a business empire that he dubbed Magic Johnson Enterprises.

Today, the company is worth over one billion dollars, and Magic himself has a personal net worth of over 600 million dollars. Magic Johnson Enterprises is the parent corporation of Magic Johnson Theaters, in addition to Magic Johnson Studios and Magic Johnson Promotions.

In 1994, Magic Johnson spent $10 million to acquire a 5 percent stake in The Lakers. He later sold that stake to billionaire Patrick Soon-Shiong in 2010 for a price that was rumored to be between $50 and $60 million. In addition, Johnson sold his chain of Starbucks stores for $75 million in the year 2010.

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Retirement

Following the disclosure of his HIV status in November 1991, Magic Johnson established the Magic Johnson Foundation with the intention of assisting in the fight against HIV. In addition to being an entrepreneur, philanthropist, and broadcaster, Johnson has been an outspoken supporter of efforts to reduce the spread of HIV/AIDS and promote safe sexual practices.

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His revelation to the world in 1991 that he was HIV-positive caused a great deal of astonishment and went a significant way toward shattering the prejudice that existed at the time, which was that HIV was a “gay sickness” and that heterosexuals did not need to be concerned about it.

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Real Estate

Beverly Park is a gated neighborhood in Beverly Hills, where Johnson and his wife have a property that they own together. The pair also owns a beach property in Dana Point, located in Orange County, California, that has a Tuscan-style architecture.

The couple had previously owned a home in Napili, Hawaii; but, because it was difficult for them to get there while their children were still little, they decided to trade it in for a beach property that is situated approximately 75 miles south of Beverly Hills.

What Is Magic Johnson’s Net Worth, Salary, and Career Earnings?

Earvin “Magic” Johnson Jr. is a former professional basketball player in the United States and an entrepreneur who currently has a net worth of 620 million dollars. Following his success in basketball both in high school and college, the Los Angeles Lakers made him the first overall pick in the 1979 NBA Draft.

Magic Johnson Net Worth

He went on to win multiple titles at all levels. He spent 13 seasons with the Lakers as a point guard for their team. During his first season in the NBA, he was named the Most Valuable Player of the NBA Finals and won the NBA Championship. Johnson served as the president of basketball operations for the Los Angeles Lakers in the past.

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