Magic Johnson, the former NBA player, has become a billionaire after establishing himself as a successful businessman following his retirement from basketball. This achievement is a testament to Johnson’s business acumen and strategic investments.
Johnson has invested in various sports teams, including the L.A. Dodgers, the L.A. Sparks, the Los Angeles Football Club soccer team, and most recently, the Washington Commanders, an NFL team. These acquisitions have played a significant role in his journey to billionaire status, as confirmed by Forbes.
In addition to his sports team ownership, Johnson’s Iowa-based life insurance company, as well as his investments in movie theaters, gyms, networks, and Starbucks franchises, contribute substantially to his wealth.
Forbes estimates Johnson’s net worth to be around $1.2 billion, and it is expected to continue growing. Joining the ranks of other billionaire professional athletes like Tiger Woods, Michael Jordan, and LeBron James, Johnson has solidified his position as a highly successful individual.
Looking forward, with the NBA expanding into new cities, it is anticipated that Johnson will seize the opportunity to further expand his portfolio and increase his fortune.