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

1. Starbucks and Burger King investor

Johnson was an early investor in Starbucks, he reportedly invested in over 100 stores in several cities from 1998 to 2010, including Los Angeles, New York, Seattle, Chicago, Denver, Detroit, Atlanta, San Diego, Washington D.C., and San Francisco. Starbucks stores in the Harlem neighborhood of New York City, the Bronzeville neighborhood of Chicago, and the Crenshaw district in Los Angeles all anchored redevelopment of the areas.

This was after he convinced Starbucks CEO, Howard Schultz, to launch stores in the inner city. The move was to create economic opportunities and build a strong community sense in the neighborhoods they served. He later sold his interest for $100 million.

Additionally, he owned several Burger King restaurants in diverse locations. In 2004, he bought 30 Burger King restaurants in Atlanta, Birmingham, Dallas, and Miami, and later sold them for $15 million – The Sports Rush reported.

Johnson said the motive behind this purchase was to create more employment opportunities in the four cities and promote minorities as managers