Who is Magic Johnson and what is his net worth 2018? A true to his spirit, the athlete always remained on the top of his career even while he retired from it. For most than a decade, 12 years, he dominated the sport he played, Basketball. But due to an uncalled illness, he had to take retirement but then also he did not stop and started his own business. He is a go getter, none other than superstar Basketball player, Earvin Magic Johnson.
Earvin was born and brought up in Lansing in Michigan to Earvin Johnson Sr, working at General Motors Plant and Christine Johnson who was a School Custodian. He grew up with 9 other siblings. Magic went to Everret High school and finished his graduation from Michigan State University. His inclination towards Basketball was from childhood itself . His middle name aka nick name of Magic was given by a sportswriter who saw him playing basketball in high school scoring huge numbers in a single match.
Magic is married to Earlitha Kelly from 25 years. Earlier Magic had relationship with Mellisa Mitchell and even has a son with her named Andre Johnson. After their split, his son was raised by his mother. After marrying Earlitha, they were blessed by son named Earvin III (a gay) and then adopted a daughter Elisa.
Net Worth of Magic Johnson
Magic Johnson has been on field for around 12 years and Magic Johnson has net worth of $640 Million. All these earnings have not only through his basketball career. In fact in his field career until 1991, he earned around $18 million as salary and endorsements. After he retired, he invested all the earned money to stand his business named Magic Johnson Enterprises which now have market value of above $1 billion.
He also owns Magic theatres, studio and marketing company. He even had stock holdings of The Lakers, his basketball team (4.5%) which he sold in the year 2010 at $60 Million. He earned by selling his franchise of Starbucks earning him $75 million. He is a great Philanthropist too as he has donated $1.1 million which focuses more on HIV and AIDS organisations to help others.
Going by the luxurious life he lives, Magic Johnson has several high end assets. Magic Johnson has purchased a house way back in 1989 in Beverly Hills. Over the time, he has expanded his property as members kept on increasing. Currently the mansion has 9 bedrooms, gym pool, tennis court and the market value was $ 6 million at 90’s itself. The other house they have is at Southern California which was designed by Michael Kreiss. He owns many luxurious cars like Lincoln Navigator 2006.
Magic made himself independent even off the court. He has ventured in various businesses. Once he took retirement in 1991 due to diagnose of HIV, he held himself and got to know about his more entreprenial skills and invested all of his earned money in business. He started with Movie Theatres; have Channel named Aspire offering the African American to view movies, music, documentaries etc. He even holds a minority stake in the Lakers which he then sold for a big amount.
He landed a healthy deal with Carlos Restaurants to launch Magic Johnson’s T.G.I Friday in California. He even collaborated with Sodexo and created SodexoMagic along with acquiring half of Starbucks Franchise which he then sold for whopping amount. Magic also owns 24 Hours sports clubs, real estate Company named Canyon Johnson Urban Fund. Magic has been making various Landmark deals and have been earning much through his multiple investments and businesses.
One of the best basketball players in History, Magic Jonson has achieved much name and fame through Basketball. He has won NBA and NCAA Championships for consecutive years making him among 4 players in history to achieve the feat. Magic has record of Triple Double in Playoff Debut which is done by only other two players in NBA history.
He is one such player who has won Most Valuable Player Award in rookie season in NBA finals making him the only player to achieve this feat. Magic average scoring was also considered to be all time high as compared to other players. He has total 5 NBA championships and the most elite Olympic Gold medal win in 1992.
Magic Johnson has been venturing in so many businesses and the latest news is that magic has become an advisor for his team Los Angeles Lakers. The fans of Magic Johnson were in great surprise when he was named the president of Basketball operations. He has been associated with several organisations for social work.
Magic Johnson has seen success all his life on the field and off the field. After his retirement he indulged into lot many business ventures. He even wrote 3 books named, “My Life”, “Magic” and “Magic’s Touch”. He made TV appearance as a sports commentator. His Magic Johnson enterprise is earning him well. He believes in social work also as she frequently donates money to the needy people especially to HIV and Aids people. The Hall of famer in basketball is leading a very good life with his wife and family.