Magic Johnson Net Worth: Why Is Johnson So Rich?

Magic Johnson Net Worth: American former professional basketball player Magic Johnson is widely regarded as one of the sport’s all-time greats. He spent his entire professional basketball career (13 years) with the Los Angeles Lakers of the NBA (NBA). He is a tall, powerfully built man who became one of the best players in the world in the 1980s thanks to his quickness, agility, and strength.

Magic Johnson is the youngest of seven siblings. His dad was a pretty athletic guy who, while not a professional basketball player, did play in high school. Even his mom supported his interest in sports. He was an outstanding player for Everett High School, where he starred on the varsity squad. He was named to the All-State team twice during his senior year and was widely regarded as Michigan’s greatest high school athlete ever.

After graduating from high school, he enrolled at Michigan State University, where he kept up his athletic pursuits alongside his studies. Soon after graduating from college, he was snatched up by the Los Angeles Lakers, where he would remain for the rest of his professional career. He has an HIV-positive status and is well-known for his advocacy and charitable work in the field.

Magic Johnson Net Worth
Magic Johnson Net Worth

Magic Johnson Early Life

The 14th of August, 1959 saw the birth of Magic Johnson in Lansing, Michigan. Earvin Sr. had a career on the assembly line at General Motors. Christine, his mother, worked as a school cleaner. Since he was a kid, Magic’s passion for the game of basketball has been inspired by watching his heroes, like Earl Monroe, play. You may also read Gucci Mane

Johnson attended Everett High School, where he immediately became involved in the school’s basketball program. When he was 15 years old, he had 36 points, 18 rebounds, and 16 assists in a single game, earning him the nickname “Magic” from a local sportswriter. In his senior year, he led his team to the state championship, which cemented the nickname.

Johnson could have attended any prestigious university, but he picked MSU because of its proximity to his home. When Magic and his team reached the 1979 NCAA championship game, they faced off against Larry Bird and Indiana State.

Their first meeting sparked one of the greatest sports rivalries of all time and was the most-watched college basketball game in television history. After the Spartans’ victory over the Hoosiers, Johnson was named the tournament’s Most Valuable Player.

Magic Johnson Career

In the 1979 NBA draught, the Los Angeles Lakers selected Magic Johnson as the first overall pick. In Magic’s first year with the Lakers, he and teammate Kareem Abdul-Jabbar won the NBA title. Magic has been honored as the most valuable player of the NBA Finals. Magic and the Lakers won the NBA championship five times between 1980 and 1988.

The most valuable player in the NBA Finals in 1980, 1982, and 1987. In 1987, 1989, and 1990, he was named the NBA’s Most Valuable Player. Twelve times he made the All-Star team, and twice he was named the game’s Most Valuable Player. He is widely regarded as one of the finest point guards in NBA history. Getting HIV in 1991 effectively ended Magic’s career.

Later in the 1993–1994 NBA season, Magic returned to the league as the head coach of the Los Angeles Lakers. A request from team owner Jerry Buss saw him replace Randy Pfund and Bill Bertka. The Lakers started strong under Johnson’s guidance, winning five of their first six games. However, Johnson announced his resignation as coach at the end of the season after his team lost their next five games.

During Johnson’s final season as head coach, the Lakers went 0-10. He claimed that being a head coach was never his goal, but he did buy a 5% stake in the team in June 1994. Magic Johnson, then 36 years old, attempted a comeback as a player for the Lakers during the 1995–1996 season. Johnson suited up for 22 games, with 10 victories for the Lakers.

In his mind, his most recent comeback was a huge win. After the first round of the playoffs, when the Houston Rockets eliminated the Los Angeles Lakers, Johnson decided to retire from the NBA. Johnson amassed 17,707 points, 6,559 rebounds, and 10,141 assists in 905 career NBA games. Throughout his NBA career, he averaged 19.5 points, 7.2 rebounds, and the most assists (11.2) per game of any player in league history.

Johnson is the playoffs’ leader in assists. He’s tied for the record with 24 assists in a single postseason game. He set a Finals record with 21 assists in Game 1 of the series (2,346). Six times in the NBA Finals, he led the team in assists and was the series MVP. He’s the All-Star Game’s all-time leader in both single-game and career assists with 22. (127).

Magic Johnson Personal Life

Johnson married Earlitha “Cookie” Kelly in a 1991 ceremony in Lansing, Michigan. Earvin III (EJ), their son, was born in 1992, and he identifies as gay. EJ appeared as a special guest on the hit MTV series Rich Kids of Beverly Hills. It was in 1995 that Magic and Cookie adopted Elisa. Dana Point and Beverly Hills, California are home to Johnson and his wife.

In addition, Johnson is the father of a son from a previous relationship. Andre Johnson, born in 1981 to Melissa Mitchell, was a big basketball star. Even though Andre was raised by his mother, he spent every summer with Magic Johnson and eventually worked as the company’s director of marketing for Magic Johnson Enterprises.

Magic Johnson Net Worth

According to projections, Magic Johnson will have a net worth of approximately $620M by the year 2022. While playing professionally, Magic earned just over $18 million in salary and endorsements totaled several more million. Johnson and his wife are proud residents of the Beverly Park gated community in Beverly Hills.

They also have a Tuscan-style beach house in Dana Point, Orange County, California. When their children were younger, the couple decided it would be more convenient to move from their home in Napili, Hawaii to a beach house about 75 miles south of Beverly Hills.

Johnson earned nearly $40 million in salary during his NBA career. His investment firm, Magic Johnson Enterprises, now has holdings worth an estimated $1 billion across various industries.

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