With an estimated value of $1 billion, here are 5 businesses owned by Magic Johnson you probably didn’t know

Abu Mubarik February 14, 2023
Magic Johnson - WSJ

Born Earvin Johnson Jr., Magic Johnson is an NBA Hall of Famer who was first inducted in 2002 for his individual career, and again in 2010 as a member of the Dream Team. His illustrious career in the NBA spanned seventeen years, from 1979 to 1996. 

First drafted in 1979, Johnson entered the league and played point guard for the Lakers for 13 seasons. His career achievements include three NBA MVP Awards, nine NBA Finals appearances, 12 All-Star games, and 10 All-NBA First and Second Team nominations. 

While enjoying his career as an NBA player, Johnson had an eye for business. His desire to become a businessman when his basketball career ended made him build a connection with legendary super-agent, Michael Ovitz, to teach him how to be a successful businessman.

Ovitz initially rejected his offer because he wasn’t keen on entering the sports business. Being told ‘no’ stunned Johnson, who submitted “it was the first time Magic didn’t matter.”

However, he wasn’t deterred and remained persistent in persuading Ovitz to help him acquire the skills to excel in business. When Ovitz advised him to consume content from Bloomberg, The Financial Times, and The Wall Street Journal; and train like an enrolled graduate student committed to enduring a rigorous regime, Johnson was up to the task and proudly availed himself.

Several years later, he has made his mark as one of the leading Black entrepreneurs and a prolific investor with multiple businesses under the umbrella of Magic Johnson Enterprises, which is worth an estimated $1 billion across various industries, according to its website.

Here are five businesses owned by Magic Johnson

Last Edited by:Sandra Appiah Updated: February 18, 2023


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