Magic Johnson just joined a very elite list of basketball players. But it has nothing to do with stats and points. The Lakers legend has officially become a Billionaire. Joining the elite company of Michael Jordan and LeBron James, Magic Johnson made his millions both on and off the court.
Advertisement
Magic became only the 4th athlete ever, to achieve billionaire status, as the only other non-basketball billionaire on the list is Tiger Woods. Stephen A. Smith was among the many who congratulated Magic Johnson on his achievement.
During a recent episode of the ‘Stephen A. Smith Show’, the ESPN analyst gave his congratulations, “Before I go to break, let me take a moment to congratulate the one and only, Ervin Magic Johnson, because according to reports, he is the newest member of the billionaire list. Ervin Magic Johnson is now supposedly worth $1.2 billion.”
Talking about Magic further, Stephen A. said, “I haven’t spoken to Magic in a while. Congratulations to him, my brother. A great man, a great leader, a great innovator. A great motivator. He has accomplished a lot of great things in his life and I got a lot of love for him. I always root for him and I always wish him the best. ”
But, in true Stephen A. fashion, the NBA analyst somehow found a way to bring the Lakers and Anthony Davis into the conversation. Drawing a comparison between AD and Magic, Stephen A. said,
“Think about it. Magic Johnson is a five-time champion. Three-time league MVP. A surefire first-ballot Hall Of Famer that he was. The elite point guard that this game has ever seen, made 40 million in his career on the basketball court. Anthony Davis is making that in one season. Playing for the same franchise he is playing for. In one year Anthony Davis is making what Magic Johnson made in thirteen. [Anthony Davis is making] 22 million more than Magic Johnson made in thirteen years. “
Magic Johnson joins the elite company
Magic Johnson’s most of the wealth has come from off-the-court activities rather than on-the-court ones. Magic only made about $40 million during his playing days. He also owned a 4.5℅ stake in the Lakers which he later sold for $27,000,000.
Aside from that, Magic Johnson also owns an impressive sports team portfolio. He has a minority stake in the Washington Commanders, which he bought recently. He also owns a stake in the WNBA’s Los Angeles Sparks team.
Magic is also a minority shareholder in the MLB team, Los Angeles Dodgers. Among other things, Magic also owns a share in MLS’ Los Angeles FC. Traditional sports aside, Magic is also the co-owner of a Esports team called Team Liquid.
With such an impressive array of investments, it’s no surprise that the 63-year-old is worth $1.2 billion. Only the third of his kind, Magic Johnson and others on the list, are living testaments that the American Dream does come true, even if for just a select few.
