Magic Johnson Net Worth 2020

magic-johnson-net-worth
magic-johnson-net-worth

What is Magic Johnson Net Worth in 2020?

Below is a table showing Magic Johnson net worth, career, age, nationality, etc.

Net Worth:$600 Million
DOB (Age):August 14, 1959 (50)
Gender:Male
Nationality:United States of America
Profession: Professional NBA Player
Last Reviewed2019

Here is what you need to know about Magic Johnson Net Worth in 2020, Early Life, Career and famous quotes. We are going to help you diggest all these and many more. No stone will be left unturned, as we will do everything possible to satisfy you.

In this article, you will not only find out Magic Johnson Net Worth, but we will also tell you how Magic Johnson makes his money, his career lessons including his educational background.

Who is Magic Johnson?

magic-johnson-net-worth
magic-johnson-net-worth

Earvin “Magic” Johnson Jr. is a retired American basketball player and entrepreneur who has a net worth of $600 million. He was the former president of the Los Angeles Lakers of the NBA.

He played point guard for the Lakers for 13 seasons. After winning championships in high school and college, Johnson was selected first overall in the 1979 NBA draft by the Lakers.

Magic Johnson Early Life

Earvin Johnson Jr. was born on the 14th of August, 1959, in Lansing, Michigan. Johnson is the son of Earvin Sr. and Christine Johnson. 

His mother spent many hours after work each night cleaning their home and preparing the next day’s meals, while his father did janitorial work at a used car lot and collected garbage, all while never missing a day at General Motors. 

Magic Johnson Career

Johnson was first recruited by the Los Angeles Lakers in 1979. He ended up signing a $25 million contract with the Lakers. Johnson performed extremely well in the 1981-1982 season, averaging 18.6 points, 9.6 rebounds, 9.5 assists and 2.7 interceptions per game.

He averaged 18.3 points, 12.6 assists and 6.2 rebounds per game in the 1984-85 regular season and led the Lakers to the 1985 NBA Finals.

His great form continued over the next few years and scored 22.5 points, 12.8 assists and 7.9 rebounds per game in the 1988-89 NBA season.

An incident in 1991 changed his life forever; He was diagnosed with HIV infection. He publicly announced his diagnosis and decided to retire. Despite his retirement, he was chosen to compete in the 1992 Summer Olympics for the United States basketball team.

He returned as a player joining the Lakers during the 1995-1996 NBA season. In February, he scored 15 points, as well as 10 rebounds and 13 assists in a win over the Atlanta Hawks. He averaged 14.6 points, 6.9 assists and 5.7 rebounds per game in 32 games this season. Then he finally retired after the season.

How Magic Johnson Makes His Money

It has not been a quiet retirement. During his playing career, Magic earned just over $18 million in salary and several million more in endorsements.

In retirement, he used that money to launch a business empire called Magic Johnson Enterprises that is valued at over $1 billion today and has given Magic a personal net worth of $500 million. Magic Johnson Enterprises owns Magic Johnson Theaters, a movie studio and a promotional marketing company.

In 1994 Magic paid $10 million to buy 4.5% of The Lakers which he sold in 2010 to billionaire Patrick Soon-Shiong for a reported $50-60 million. In 2010 Johnson also sold his chain of Starbucks for $75 million.

On March 27, 2012, Magic and a group of partners purchased The Los Angeles Dodgers from Frank McCourt for $2 billion.

What is Magic Johnson Net Worth in 2020?

As of 2019, Magic Johnson’s net worth is estimated to be $600 Million dollars.

Magic Johnson Career Highlights

Here are some of the best highlights of Magic Johnson’s career:

  • He won a championship and an NBA Finals Most Valuable Player Award
  • Johnson became a two-time inductee into the Basketball Hall of Fame

Magic Johnson Famous Quotes

“Being able to touch so many people through my businesses and make money while doing it, is a huge blessing.” – Magic Johnson

“As an athlete, I understood the value of my health insurance. I knew that in my profession, injuries were common and could happen at any time.” – Magic Johnson

“Everyone thought I was going to die like a year later, they didn’t know. So I helped educate sports, and then the world, that a man living with HIV can play basketball. He’s not going to give it to anybody by playing basketball.” – Magic Johnson

“I really want people to know that I’ve worked hard, very hard, to get to where I am today.. this didn’t just happen overnight. I started in business over 25 years ago and have found a way to build on what I’ve learned through every partnership and opportunity.” – Magic Johnson

“Any guy who can maintain a positive attitude without much playing time certainly earns my respect.” – Magic Johnson

“I tell people to look at me and understand that everybody first told me that I couldn’t be a 6-foot, 9-inch point guard, and I proved them wrong. Then they told me I couldn’t be a businessman and make money in urban America, and I proved them wrong. And they thought I couldn’t win all these championships, and I proved them wrong there as well.” – Magic Johnson 

Magic Johnson Career Lessons

Now that you know all about Magic Johnson’s net worth, and how he achieved success; let’s take a look at some of the best lessons we can learn from him:

Focus on your strengths

“Rarely can you turn a weakness into a strength. Greatness is achieved by building on strengths and managing your weaknesses so they do not matter” — Magic Johnson

When you build your strengths you will overcome your weaknesses. I use to think that if I worked on my weaknesses I would be well rounded. Unfortunately what happens is that you become a jack of all trades and master to none. Focusing on my strengths is one thing that helps me achieve more. Stuff that I do not know can be easily outsourced.

Seizing Opportunities

“Always be prepared to jump on business opportunities” — Magic Johnson

“Most entrepreneurs have a sixth sense for spotting business opportunities where others only see problems or nothing at all” — Magic Johnson

Magic became the first player to become a licensee of the NBA (National Basketball Association). Seeing an opportunity he worked a deal with the NBA to exclusively sell his merchandise. He manufactured and sold Playoff and Championship shirts with his image on them that were huge sellers.

Conquer your Fears

“Get past fears and insecurities by understanding that the feeling is usually worse than the reality” — Magic Johnson

Fear is that thing that keeps us at bay and keeps us trapped inside our comfort zone. Everyone is afraid of something, We can’t hide it. The only thing we can do is acknowledge it and go through it if we are brave enough to.

The scary thing is that once you go through the fear you realize that it may not have been as bad as you once thought it was.

Magic learned to face his fears and move past them on the basketball court and in business as well. 

End Note

Magic Johnson is a retired American professional basketball player, counted among the greatest basketball players of all time. Johnson is famous for his powerful arms, agility, and speed that helped him become one of the most formidable players in the world during the 1980s. 

As of 2019, Magic Johnson’s net worth is estimated to be $600 Million dollars.

What do you think about Magic Johnson’s net worth? Leave a comment below.

Be the first to comment

Leave a Reply

Your email address will not be published.


*