Is Magic Johnson a Billionaire? | Details on his Net Worth

Learn All The Details On Magic Johnson's Net Worth!!

Magic Johnson is a former NBA president and retired professional basketball player from the United States. For 13 seasons, he was the Lakers' point guard. 

Johnson was selected first overall in the 1979 NBA draft by the Lakers after winning championships in high school and college. He is married to his wife, Cookie, and has two kids with her.

Is Magic Johnson A Billionaire?

No, Magic Johnson is not a billionaire right now, despite the fact that his company is worth more than a billion dollars. That company has helped Johnson increase his net worth, but it hasn't pushed it over the billion-dollar mark.

Magic Johnson is a former NBA president and retired professional basketball player from the United States. 
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As per Celebrity Net Worth, Magic's net worth is estimated to be around $620 million as of 2022. Magic earned slightly more than $18 million in salary and several million more in endorsements during his playing career.

Magic Johnson Real Estate

Magic Johnson and his wife have a home in the Beverly Hills gated community of Beverly Park. In addition, the couple owns a Tuscan-style beach house in Dana Point, Orange County, California.

Magic Johnson and his wife have a home in the Beverly Hills gated community of Beverly Park.
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The pair used to own a home in Napili, Hawaii, but it was too far away for their children to visit, so they traded it in for the beach house about 75 miles south of Beverly Hills.

Magic Johnson Promising Career

The Los Angeles Lakers selected Magic Johnson as the first overall pick in the 1979 draft. He and teammate Kareem Abdul-Jabbar led the Lakers to the NBA championship in his rookie season, and Johnson was named the NBA Finals MVP.

The Los Angeles Lakers selected Magic Johnson as the first overall pick in the 1979 draft.
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Johnson led the Lakers to five NBA titles in 1980, 1982, 1985, 1987, and 1988. He was the NBA Finals MVP three times, in 1980, 1982, and 1987. In 1987, 1989, and 1990, Johnson was named NBA Most Valuable Player three times. 

Magic appeared in the All-Star game 12 times and was twice named MVP. Johnson is usually recognized as the greatest point guard of all time. His career was cut short in 1991 when he contracted the HIV virus.

Johnson returned to the NBA as the Lakers' coach near the end of the 1993-1994 season. Magic replaced Bill Bertka and Randy Pfund at the owner Jerry Buss's request. The Lakers played well under Magic's coaching at first, winning five of their first six games, but after losing the next five, Johnson announced his resignation as coach at the end of the season. 

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The Lakers finished the season on a ten-game losing streak, and Magic's final record as a head coach was 5-11. Johnson stated that coaching was never his dream, so he purchased a 5% stake in the team in June 1994.

During the 1995-96 season, Johnson, then 36 years old, attempted a comeback as a player and rejoined the Lakers. The Lakers went 22-10 in Magic's games, and he considered his final comeback a "success." Johnson announced his retirement after the Lakers were defeated by the Houston Rockets in the first round of the playoffs.

Magic scored 17,707 points, grabbed 6,559 rebounds, and handed out 10,141 assists in 905 NBA games, for career averages of 19.5 points, 7.2 rebounds, and 11.2 assists per game, the highest assists per game average in NBA history. Johnson holds the Finals record for assists in a game, as well as the single-game playoff record for assists.

Johnson is the only player to have averaged 12 assists in six NBA Finals series. He holds the All-Star Game single-game assist record (22) as well as the All-Star Game career assist record (127).

Magic Johnson is also an Entrepreneur

Magic Johnson's retirement has not been a peaceful one. In retirement, he founded Magic Johnson Enterprises, which is now worth more than $1 billion and has given Magic a personal net worth of $600 million. Magic Johnson Enterprises owns Magic Johnson Theaters, a film studio, and a promotional marketing firm. 

Magic Johnson's retirement has not been a peaceful one.
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Johnson paid $10 million for a 5% stake in The Lakers in 1994, which he sold to billionaire Patrick Soon-Shiong in 2010 for a reported $50-60 million. Magic also sold his Starbucks chain for $75 million in 2010.

Magic and a group of partners paid $2 billion for the Los Angeles Dodgers from Frank McCourt on March 27, 2012. 

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