Magic Johnson was born in Lansing, Michigan, on August 14, 1959. His mother Christine worked as a school janitor, while his father Earvin Sr. was an assembly line worker for General Motors.
Magic was passionate about basketball and idolized players like Earl Monroe. Johnson attended Everett High School, where he soon joined the basketball team.
The moniker “Magic” was given to him by a local sportswriter when, at the age of 15, he recorded a triple-double of 36 points, 18 rebounds, and 16 assists.
His reputation was cemented when he led his team to the state championship in his senior year.
Johnson received offers from every prestigious college but chose to attend Michigan State University rather than travel far from home.
When Indiana State University and their great player Larry Bird were their opponents in the NCAA championship game in 1979, Magic’s team fought them.
What Is Magic Johnson’s Net Worth And Salary?
A retired American basketball player and businessman with a $620 million fortune, the Los Angeles Lakers chose Earvin “Magic” Johnson Jr. as the first overall player in the 1979 NBA Draft after winning high school and college basketball titles.
He spent 13 seasons as the Lakers point guard. He captured the NBA Championship and the Most Valuable Player Award in his first season. Johnson served as the Lakers’ previous president of basketball operations.
Magic the Entrepreneur
Magic’s retirement has not been a peaceful one. In his retirement, he established the Magic Johnson Enterprises business empire, now worth over $1 billion, and earned Magic a net worth of $600 million.
Magic Johnson Theaters, a movie studio, and a promotional marketing firm are all owned by Magic Johnson Enterprises.
The 5% stake in The Lakers that Magic purchased in 1994 for $10 million was sold to billionaire Patrick Soon-Shiong in 2010 for an estimated $50–60 million. Johnson also sold his Starbucks network for $75 million in 2010.
The Los Angeles Dodgers were sold to Magic and a group of partners for $2 billion on March 27, 2012. more details here: For $2 billion, Magic Johnson purchases the Dodgers.
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During his playing career, Magic made over $18 million in salaries and several million dollars in endorsements.
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How Much Real Estate Does He Own?
In the private neighborhood of Beverly Park, Johnson and his wife have a residence. The pair also owns a beach house in Dana Point, Orange County, California, with a Tuscan design.
When their children were little, the couple’s residence in Napili, Hawaii, was too far away to get to, so they exchanged it for the beach property around 75 miles south of Beverly Hills.
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