Magic Johnson, the greatest known point guard in NBA history is now making headlines for becoming the fourth athlete ever to get the Billionaire title. His entrepreneurial venture in the form of investment company Magic Johnson Enterprises turned out to be a great success. This billionaire title has left fans ecstatic including Shannon Sharpe who vocally expressed his opinion on how his greatness in sports impacted his journey.
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In the latest episode of ‘NightCap‘, Shannon Sharpe discussed Magic Johnson’s financial prowess with Chad Johnson. He made a point by mentioning how a successful NBA career that earned Johnson ‘only’ $40 million, grew exponentially over the years making his way to the Billionaire’s club.
Shannon Sharpe Appreciated Magic Johnson for Making it to Billionaire club
Shannon Sharpe on the ‘Nightcap’ went live with Ochocinco, admiring Magic Johnson for becoming a billionaire. He presented an amazing point of view comparing his career earnings to LeBron James. As a matter of fact, this comparison holds much importance as LeBron James was one of the three athletes before Johnson to make it to the billionaire club.
“Magic Johnson has become the fourth athlete to join the billionaire club,” added Sharpe, “Magic Johnson only earned $40 million in his NBA career. LeBron James has earned $480 million dollar in his NBA career.”
Later in the conversation, Shannon Sharpe quoted Earvin Johnson to delve into the challenges faced by Johnson as a businessman. While Johnson agrees that his NBA career gave him the initial lift, he still believes he has to sell himself as a businessperson.
“Magic said ‘you know what I did on the basketball court might have gave me an opportunity to go sit at the table. But I had to prove to people that I sell coffee at Starbucks. I had to prove to people that I could get people into my movie theatres right. I had to prove to people that I was a savage businessman. Because at the end of the day, them people gonna want their money, the return on their investment,” added Shannon.
Johnson did not limit his work to business and sports. He announced his contraction of HIV in 1991, which has not progressed to AIDS to date. This encouraged him to launch the Magic Johnson Foundation, which was later diversified to include other philanthropic goals. His effect on HIV activism became so profound that ‘Magic Johnson Effect’ earned popularity in a number of research papers with respect to the virus.
Earvin Johnson Jr.’s Investments in Sports Teams
Earvin ‘Magic’ Johnson Jr. has become the fourth athlete after Tiger Woods, Michael Jordan and LeBron to enter the billionaire club. His net worth has been officially announced to be around $1.2 billion per Forbes. While his life insurance company has done wonders, he also has notable investments in several professional sports teams.
Earlier this year, Earvin Johnson became a minority owner in the Washington Commanders. Interestingly, Johnson owns stakes across American sports such as the Los Angeles Dodgers in MLB, the Los Angeles Lakers in NBA, and the Los Angeles Football Club.
This NBA Hall of Fame legend’s Magic Johnson Enterprise has also made quite the mark in the business world. His company has continually invested in many lucrative businesses. Apart from their deals with sports teams, they are associated with movie theatres and restaurants along with Sodexo, T.G.I Friday’s, and Burger King across the United States. It is quite an impressive journey as Johnson is welcomed to the Billionaire Club!
