Magic Johnson’s Net Worth 2022
Magic Johnson’s Net Worth 2022
How much is Magic Johnson’s net worth 2022?
Magic Johnson’s Net Worth 2022
Ervin “Magic” Johnson is regarded as one of the top five to seven basketball players of all time. Born in Michigan in 1959, he has been a transformative force in the league alongside his rival Larry Bird. When he and Bird first arrived in the NBA, it wasn’t even on TV for the majority of the season. They would change that, and Jordan would build a global NBA phenomenon on that foundation a few years later. Because of the flair and creativity of his passes, he earned the nickname Magic. He is widely considered to be one of the best, if not the best, passers in NBA history.
Many people refer to magic as a mogul. After his playing career ended, he invested in a variety of businesses, which earned him ten times as much money as his basketball career did.
He grew up in a large family of seven siblings. His father was a General Motors assembly worker, and his mother was a school janitor. He developed an interest in basketball at a young age. His idols and favorite players included Bill Russell, who he admired for his success and 11 championships, as well as Earl Monroe and Marques Haynes, who he admired for the way they played the game.
Magic Johnson, an American retired professional basketball player, is estimated to have a net worth of $600 million as of 2022. He previously served as the Los Angeles Lakers’ president of basketball operations.
How did Magic Johnson get so rich? | Magic Johnson’s Net Worth 2022
There are two stories about Magic Johnson’s rise to multi-millionaire status. The first is his time as an NBA player, and the second is his time as an entrepreneur and investor. Let us begin with everything he accomplished in the NBA. Following a championship and MVP season in college, Magic Johnson was selected as the first pick in the NBA draft.
The expectations were high for the then-young Magic Johnson. And he delivered, winning the title in his first year in the NBA with another great, Kareem Abdul-Jabbar. He is the only rookie ever to win the NBA Finals MVP award. But that was just the start of an incredible NBA career that was tragically cut short due to his HIV issues.
He would go on to win four more championships and be named Finals MVP twice more. He was also a three-time regular-season MVP and a twelve-time all-star. Because NBA contracts were not as large as they are now, he only earned an estimated $40 million while playing in the league.
He gathered as much knowledge and business wisdom as he could as a close friend of Lakers owner Jimmy Buss. He learned a lot from networking with him and his friends. Following that, he invested in a number of businesses. Magic Johnson Enterprises, a conglomerate worth over $700 million dollars, is now comprised of those ventures. He is also a minority owner of the Los Angeles Dodgers and the Los Angeles Sparks.
Magic Johnson’s total net worth is estimated to be more than $600 million dollars in 2020. With only an estimated $40 million in earnings from his NBA career, Magic Johnson is truly “Magic” in business and not just passes.
Why is he so famous?
Before he became a household name in the NBA, Magic was courted by numerous colleges. People rarely went straight to the NBA after a year or two in college back then, but Magic was an exception. All of the big schools wanted him, including UCLA, but he chose to play for Michigan State instead. He chose that school primarily because of its talent and the coach’s promise to let him play point guard.
And he performed admirably at Michigan State. He led the team to a best-of-eight finish in his first year. In his sophomore season, he established himself as one of the best players in the country, second only to Larry Bird. He led his team to the finals, where they faced Bird and his Indiana team, and they won the championship. He was named the best player in the country at the end of the season. He and Bird would soon be on their way to the NBA, where their rivalry would take an epic, generational divisive turn.
What was it that made him so successful? | Magic Johnson’s Net Worth 2022
When you look at Magic Johnson, or watch one of his games when he was at his peak, you can tell right away that his man was born to play basketball. At 6 feet 9 inches tall, he was an incredible ball-handler and passer. Knowing he had a size and weight advantage over many other guards in the league, he worked on and perfected his post-game. Magic was also an excellent defender, with a knack for rebounding and steals. But it was his death that truly distinguished him. He would always find the open man, no matter how many men were on him.
Basketball, however, was not the only factor that contributed to his success. He also had a strong business sense and intuition. Magic, ever the inquisitive mind, picked the brains of the many VIPs, guests, and fans of the Los Angeles Lakers. As previously stated, he extracted as much wisdom and information as he could from them. He has built his media empire and other highly successful ventures on that wisdom.
His parents’ instillation of hard work in him paid off in the end. But he also had to deal with his HIV infection and the stigma that came with it. He was unable to play basketball after it was discovered that he was HIV positive. HIV and AIDS were thought to be only gay illnesses at the time. Magic fought to eliminate that stigma, as well as the stigma associated with the quality of life that an HIV positive person could have.
Summing-Up | Magic Johnson’s Net Worth 2022
From being the son of two hardworking parents who struggled to provide for their seven children to becoming one of the first and finest examples of an athlete turned businessman. Magic Johnson is one of the most perplexing and wonderful success stories in American history. There were failed ventures and jobs in his life, such as coaching and front office work with the Lakers, but from everything Magic Johnson did, he learned and used those lessons to build an impressive empire.