Earvin Magic Johnson, Jr. (born August 14, 1959) is an American retired professional basketball player who played point guard for the Los Angeles Lakers of the National Basketball Association (NBA). He played point guard with the Lakers for 13 seasons, during which he won five NBA championships and three NBA Finals MVP Awards. Johnson was a member of the 1992 United States men’s Olympic basketball team (The Dream Team) that won the Olympic gold medal in 1992. After leaving the NBA in 1992, Johnson formed the Magic Johnson All-Stars, a barnstorming team that travelled around the world playing exhibition games.
Net Worth in 2021
$500 million dollars in 2021. He has already earned $100 million dollars playing basketball with Lakers, so he will make another $400 million dollars from various endorsements and other business ventures over his career. In addition to his success as a professional athlete, Magic also owns Magic Johnson Enterprises LLC which is involved in a variety of businesses including food service, health clubs, real estate, and movie theaters. The business is also a partner in Starbucks Coffee Company along with athletes such as Dikembe Mutombo and Alonzo Mourning. His estimated yearly income for 2012 is about $10-15 million, which makes him one of Hollywood’s richest celebrities . Overall his net worth will be at least 500 million US Dollars in 2021 .
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Early Life
Earvin Magic Johnson Jr. was born on August 14, 1959, in Lansing, Michigan. His mother named him Earvin because she thought he would bring her good luck and that she felt his name should have an E in it so it would be different than anyone else’s. Magic is a nickname that was given to him by his father; although it has been suggested that a high school teammate gave him his famous nickname due to his ball handling skills. While growing up, Magic attended Everett High School and graduated from Lansing Everett High School in 1977. In 1978 he enrolled at Michigan State University where he studied business management and played basketball for Tom Izzo as point guard.
Professional Career
Magic’s main role in business is being a Co-Owner of The Los Angeles Dodgers. His net worth mainly comes from his 14 year career with Lakers, even though he was only able to play 5 seasons due to his retirement due to HIV. Magic started playing at Michigan State University and averaged 17 points per game. During his last college season he played with other NBA draft picks including future Hall of Famer Larry Bird. In 1979 Magic was selected first overall by Los Angeles Lakers and he won Rookie of Year award, which is given to best rookie that season by sportswriters and broadcasters.
Endorsements
Magic Johnson’s net worth comes from a number of different sources, including his long-standing career as a basketball player and then executive, sports agency entrepreneur, movie producer and broadcaster. When Magic was playing in LA in the 1980s (with fellow members of what would become known as The Dream Team), he was already working with brands off-court. Today, his current net worth sits at $500 million. With endorsement deals for companies like Coke, State Farm and Farmers Insurance as well as ownership stakes in restaurants like Fatburger and more than 1,000 Wendy’s franchises – not to mention all of his other business ventures – Magic has built an impressive empire over more than 20 years.
Personal Life
Magic was born Earvin Johnson Jr. on August 14, 1959, in Lansing, Michigan. His parents were Earvin Sr., a General Motors assembly worker who later became a Cadillac salesman and Christine, who worked as a schoolteacher and nurse. In his youth, he picked up basketball and dreamed of being like local hero Gus The Wizard Williams (more recently known as Detroit Pistons radio analyst George Blaha). He played high school ball at Everett High School in Lansing where he led his team to state titles his junior and senior year.
Controversies
While it might be impossible to know Magic’s exact net worth in 2021, I would guess he will have a net worth of about $750 Million in 2021. In 2014, Forbes listed Magic’s net worth at about $500 million dollars, which is quite impressive for a man who is not even sixty years old. Between his investment portfolio and other assets, Magic appears to be doing quite well for himself. However, if you dig into his recent financial records you can see that his estimated yearly income is just shy of $1 million dollars. For someone who has amassed as much wealth as he has you might expect him to make millions every year. But what happens when we take a look at some of his recent business deals?
Awards and Accolades
Magic Johnson is a retired American basketball player who has an estimated net worth of $500 million as of May 2016. Born Earvin Magic Johnson Jr. on August 14, 1959 in Lansing, Michigan, he rose to fame for his superb skills and played for Los Angeles Lakers for 13 years (1979-91). He was named NBA Finals MVP in 1980 and 1982 and NBA Most Valuable Player three times from 1979 to 1991. When he retired from playing basketball in 1991 due to HIV infection, he founded Magic Johnson Enterprises and currently serves as CEO.
Last Updated on December 24, 2021
Andrew Smith is a professional News researcher and writer. He has been writing latest tending news articles for various news agencies.
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