Magic Johnson, who netted $100 million from Starbucks, shared the same horrendous investment with Jimmy Fallon

Magic Johnson and Jimmy Fallon represent Los Angeles and Hollywood hand-in-hand.

Magic Johnson is one of basketball’s and Los Angeles’ greatest representatives to the world. Jimmy Fallon on the other hand is the centerpiece of all things glitzy and glamorous in the world of night-time entertainment.

Both celebrities have amassed incredulous fortunes over the course of their successful careers. Magic Johnson was an MVP, Finals MVP, and 5-time NBA Champion with LA’s crown jewel, the Lakers.

Also read: Magic Johnson, Kareem Abdul-Jabbar, and the “Showtime Lakers” take a retreat to Hawaii after over 30 years

Jimmy Fallon is a Hollywood icon of the highest echelon and is no shrub either. Fallon is a Primetime Emmy and Grammy Award winner and is an icon in TV show hosting.

The two combine for around $700 million in net worth. Smart investments in their respective career earnings have been a crucial part of the same, with Magic even netting $100 million from an incredibly savvy early investment in Starbucks.

However, both of them shared a common regret on Jimmy Fallon’s show. Magic Johnson’s addition to the story makes for a hilarious anecdote.

What was the common poor investment made by Fallon and Magic?

The horse racing industry is one of the most lucrative sporting industries across the world. Betting and gaming in horse racing is a multi-million empire spanning the world.

Magic Johnson and Jimmy Fallon both made a decision to buy horses to mark an entry into the world of horse racing. However, both proved to be amateurs who were let down by their investments in an unknown entity.

Magic recalls how the idea was sold to him. Johnson was shown a horse galloping at a great pace. Except, on its own. Magic recalls visiting the race only to see how his horse was one of the slowest to hit the track.

Video footage of Magic and Fallon and their reactions show their embarrassment at a bad investment.

As long as it didn’t become a pattern. Their $700 million total worth is a testament to that.

Also read: “Kobe Bryant, when we meet again, we are going on that beer run”: Jimmy Fallon had a tear jerking tribute for the Lakers icon