CAP D’ANTIBES, FRANCE – MAY 23: Magic Johnson attends the amfAR Cannes Gala 30th edition Presented by Chopard and Red Sea International Film Festival at Hotel du Cap-Eden-Roc on May 23, 2024 in Cap d’Antibes, France. Photo: Gisela Schober (Getty Images)
After 12 amazing seasons with the Los Angeles Lakers, Magic Johnson could have used his retirement to do well, anything. But since he’s stopped playing basketball, he’s continued to make moves in the business world.
With an estimated net worth of $1.2 billion, Johnson joins Tiger Woods, LeBron James and Michael Jordan as the fourth athlete to become a billionaire, according to Entrepreneur.
In addition to being a minority stakeholder in professional sports teams, including NFL’s Washington Commanders, the WNBA’s Los Angeles Sparks and MLB’s Los Angeles Dodgers, Johnson also owns a 60 percent stake in life insurance company EquiTrust. His investment company Magic Johnson Enterprises continues to provide resources to several underserved communities around the country, including Magic Johnson Theaters and Starbucks cafes.
