Magic Johnson net worth

Magic Johnson net worth

Net Worth: $500 Million

About Magic Johnson

Magic Johnson net worth

One of the biggest legends in the basketball field is known to be Magic Johnson. It has been reported that Magic Johnson net worth reaches 500 million dollars, which also makes him one of the multimillionaires basketball players.

Magic Johnson was born in Michigan in 1959 to his father, who worked in a General Motors company and his mother, who was a janitor at school. At an early age Magic Johnson started to play basketball and wanted to become a professional player, just like his idols, including Earl Monroe. Magic Johnson attended Everett High School, where he soon was accepted to the school’s basketball team.

The nickname of him, ‘Magic’, was thought of by a local sports editor, who named him like that because of his scoring a triple double with 36 points, 18 rebounds and 16 assists. The nickname also stuck to him when in his senior year he led his team to the state’s championships. Although he got a lot of offers to study at various high profile colleges on a basketball scholarship, Magic Johnson chose the one which was close to his home, this being Michigan State University.

His first NBA team was Los Angeles Lakers, in which he was drafted in 1979. The team added first huge sums of money to Magic Johnson net worth. In his first season, he and his fellow basketball player Kareem Abdul-Jabbar led the Los Angeles Lakers team to the championships of the NBA. In these games, Magic Johnson was titled the MVP of the NBA finals.

In a short period of time, Magic Johnson led his team for four more championship games and got three MVP titles. Magic Johnson is also regarded to be the greatest point guard in the history of basketball. In 1991, unfortunately, Magic Johnson had to stop his career as a basketball player because of the HIV virus he got.

Although he made several appearances in the basketball field after that, he officially retired in 1996. Nevertheless, basketball added a lot of financial success to Magic Johnson net worth. During his career as a professional basketball player, Magic Johnson earned more than 18 million dollars in salary and even more from his endorsement deals. Using this money, after his retirement he founded his business empire which he called “Magic Johnson Enterprises”. Today, the value of the company has been stated to reach 1 billion dollars and it is considered to be the one which gave him a net worth of 500 million dollars.

Now you have an idea why Magic Johnson net worth is this huge


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