Magic Johnson Net Worth in 2023

Magic Johnson’s Net Worth is $650 Million

Magic Johnson was a fresh-faced rookie in the NBA, carrying the big hopes and dreams of a multimillion-dollar franchise. Despite the pressure, he won them a championship in his first season. Though it sounds like some Disney movie script; this is the reality of one of the greatest NBA players ever.

His slam-dunk success isn’t just limited to the hoops, however; it spills right over into the big, noisy world of finance. As of 2023, our former LA Lakers fave can proudly show off a net worth of $650 million.

NameEarvin Johnson Jr.
ProfessionFormer Professional Basketball Player, Entrepreneur, Motivational Speaker
Net Worth$650 million
BirthplaceLansing, Michigan, USA
BirthdayAugust 14, 1959 (Leo)
Height6 ft 9 in (206 cm)
Relationship StatusMarried (to Cookie Johnson)

Magic in Michigan: Early Life & Breakthrough

For Magic Johnson, born August 14, 1959, in Lansing, Michigan, basketball was an obsession. Dad Earvin Johnson Sr was a basketball lover, and clearly passed that onto his son. Magic made the game his own in high school, racking up all-state selections and even making the elite McDonald’s All-American team. This guy was cooking, and Michigan State University knew they had to stir that pot in 1977–1979.

Then 1979 happened. Magic went first overall in the NBA draft to the Los Angeles Lakers. Despite being a lowly rookie, Magic led the team to the championship title that first season and even took the MVP honors in the Finals. He remains the only player to have done so. This was no one-hit-wonder. Magic Johnson was just getting started. His talent, his flair, his charisma—it all contributed to a deluge of wins for the Lakers. It started to dawn on everyone, this guy was making NBA history.

Money Talks: Magic Johnson’s Basketball Bucks

Magic Johnson made a lot of money from his basketball career. Reports in 2023 say he pulled in $39.3 million from his career, both as part of contractual and executive obligations.

As lucrative as that money train was, it did not stop there. Back in 2017, he was running the show as the Lakers’ President of Basketball Operations, scoring another substantial income, thanks to his association with the team. And let’s not forget his time with the U.S. national team at the 1992 Barcelona Olympics. The Dream Team, while being paid a relatively negligible amount, really scored when it came to sponsorships and endorsements.

Diversified Revenue Streams: Magic Johnson’s Business Ventures

Back in 1987, Magic opened up his kingdom of business, known as Magic Johnson Enterprises. It’s now worth over a billion dollars.

One of the biggest plays in Magic’s business career was his dealings with Starbucks. From 1998 to 2010, his company owned over 100 Starbucks stores. He called it quits in 2010, selling his stake, and subsequently pocketed $100 million. We suppose it pays—literally—to be a bean counter.

But Magic didn’t stop with just Starbucks. He bought a stake in two pro sports teams: the women’s basketball team the LA Sparks since 2014, and for you baseball lovers, he’s had a hand in the LA Dodgers since 2012. The Dodgers—a storied franchise—won the World Series in 2020, and has never been more popular.

Apart from making his money work for him, Johnson’s moves show us that he’s got a seriously good eye for golden opportunities. Swapping slam dunks for corporate wins and proving sports celebs have the chops for the business world too.

Magic Johnson’s Swanky Stuff and Giving Back

Magic Johnson has quite the collection of swanky digs and drop-dead gorgeous rides. He has been in the real estate game since the early ’80s, when he just started becoming a big deal.

Johnson put down roots in Bel Air with a custom-built pad back in the day. As if that weren’t enough, Johnson then bought a chill-out spot in Maui, scoring a mansion in Beverly Park with jaw-dropping views in 1990. And guess what? In 2007, the man added a $7.6-million three-storey Tuscan beach house in Orange County to his collection.

But the man isn’t all about houses; he has a serious thing for luxury rides, too. His garage boasts a Mercedes-Benz SL450 ($16,155), Lincoln Navigator ($7,000), a Lincoln Mark LT Pickup Truck ($64,035), Cadillac Escalade ($79,295), a Bentley Continental V8 ($254,100), and the true showstopper – a Rolls-Royce Phantom Drophead Coupe costing a clean half a million. And when it comes to jet-setting, Magic flies high with his own Gulfstream G-III private jet.

Magic, though, isn’t just about living the high life. Since finding out he was HIV positive in 1991, Magic made a promise to fight back and help others. Through his Magic Johnson Foundation, he’s been vocal about HIV/AIDS, spreading the word and helping those living with it.

Inside the Personal Life of Magic Johnson

On September 14, 1991, Magic tied the knot with Earlitha “Cookie” Kelly at an L.A. church. The duo set up an idyllic family with their kids: Earvin III (a.k.a. EJ) in ‘92 and Elisa in ‘95. Even under the spotlight, Magic managed to keep his family separate, shielding them from the fame he has garnered.

The same year he married Cookie, Magic bravely shared that he’s HIV positive. The news was groundbreaking and did much to change the stigma attached to the disease. From then on, he’s not just been a fabulous basketball player and savvy entrepreneur, he has also been an intense activist, squaring up against HIV/AIDS and proving you can still live a full life despite suffering from it.

Navigating Major Events: Magic Johnson’s HIV Announcement

On November 7, 1991, he dropped the bombshell that he had been diagnosed with HIV. This was a game-changer, not just for him personally but also for his larger-than-life public persona.

The news was groundbreaking and did much to change the stigma attached to the disease. Opening up about his health woes was a brave move. Rather than landing Magic in social purgatory, it pulled in a tsunami of support from the fans, fellow jocks, and A-listers.

But Magic is no quitter. He decided to pivot and step up his game. He morphed into a vocal advocate for HIV/AIDS awareness and knowledge, becoming the face of a cause. He kicked off the Magic Johnson Foundation geared towards empowering diverse urban communities on the education, health, and social fronts. With HIV/AIDS awareness and prevention as the heart of his mission, he’s shown an uncompromising commitment to fighting the disease.

Looking back, the HIV diagnosis shook him up, no doubt. But it also launched a new chapter of grit and activism in Magic Johnson’s life narrative. The big reveal turned him into a superstar champion of a health crisis, sparked dialogue about HIV/AIDS in the public domain, and poured millions into research and relief.