Magic Johnson Net Worth 2023 – Salary and Career

Magic Johnson Net Worth 2023 – Magic Johnson, the legendary basketball player, and successful entrepreneur, has built an impressive financial empire over the years. His net worth, salary, and career earnings reflect his exceptional talent on and off the basketball court.

Did Magic Johnson Turn Down A $5 Billion Nike Deal?

There have been rumors circulating that Magic Johnson turned down a lucrative $5 billion deal from Nike. However, these rumors are not accurate. Magic Johnson did not actually turn down a $5 billion Nike deal.

While he did have a long-standing relationship with Nike and played a crucial role in popularizing the Converse brand during his early years, the specific details of such a massive deal are not substantiated.

Who is the richest between Michael Jordan and Magic Johnson?

Michael Jordan Net Worth is around $2.6 Billion while Magic Johnson Net Worth is. $620 Million. It goes without saying that, Michael Jordan is much more richer.

Magic Johnson Wife

Magic Johnson’s wife’s name is Cookie Johnson. She is known to be a philanthropist and the secretary of the board of directors for her husband’s foundation Magic Johnson Foundation. She is also regarded as an amazing spokesperson.

Early Life

Earvin “Magic” Johnson was born on August 14, 1959, in Lansing, Michigan. He gained the nickname “Magic” during his high school years for his exceptional skills on the basketball court.

NBA Career

Magic Johnson‘s NBA career is nothing short of legendary. He was selected by the Los Angeles Lakers as the first overall pick in the 1979 NBA Draft. Johnson quickly became one of the greatest point guards in basketball history. His partnership with fellow Lakers superstar Kareem Abdul-Jabbar led to multiple championships for the team.

Magic Johnson Net Worth

According to Wikipedia, Magic Johnson Networth is around 620 Million dollars.

Magic Johnson Rings – how many rings does Magic Johnson have?

Magic Johnson, the basketball player always seen as the greatest point guard has played 13 seasons in the NBA and has won five rings altogether as well as with the Los Angeles Lakers and others.


In 1991, Johnson shocked the world by announcing his retirement from basketball due to contracting HIV. He returned briefly to the court during the 1995-1996 season before retiring for a second and final time.

Magic the Entrepreneur

Beyond his basketball career, Magic Johnson’s entrepreneurial ventures have been remarkably successful. He has displayed business acumen across various industries.

SEE ALSO: Peggy Flemming Networth, Biography

Salary Highlights

During his NBA career, Magic Johnson earned substantial salaries, becoming one of the highest-paid players of his time.

Real Estate

Magic Johnson has also made strategic investments in real estate, which have significantly contributed to his net worth and his stance since he retired.

Launches Magic Johnson Records And MagicWorks

Johnson ventured into the entertainment industry with Magic Johnson Records and MagicWorks, displaying his versatility beyond basketball where his wife partners with him.

Opens Magic Johnson Theaters

He recognized the lack of entertainment options in underserved communities and launched Magic Johnson Theaters to address this gap.

Becomes Owner Of EquiTrust

Magic Johnson’s business prowess led him to acquire EquiTrust Life Insurance Company, solidifying his position in the financial sector.

Makes History With Pepsi

In a historic move, Magic Johnson became one of the first African-American businessmen to acquire a significant stake in a major company when he partnered with PepsiCo.

ALSO READ: Ryan Gosling: Movies on Netflix, Barbie, Networth, Age, Wife/Girlfriend, Instagram

Buys The Washington Commanders

His ownership extended to sports teams, with Magic Johnson becoming a part-owner of the Washington Commanders football team.

Bringing Starbucks To The Hood

Magic Johnson’s commitment to community development is evident through initiatives like bringing Starbucks franchises to underserved neighborhoods.

Buys The Los Angeles Dodgers

In a landmark deal, Johnson and his investment group purchased the Los Angeles Dodgers baseball team, showcasing his continued influence in the sports world.

Magic Johnson’s net worth, salary, and career earnings have been the result of his extraordinary basketball talent, strategic investments, and innovative business ventures. From the basketball court to the boardroom, Magic Johnson’s journey is a testament to his exceptional skills, determination, and entrepreneurial spirit.

Like us on Facebook.

Leave a Comment