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Earvin “Magic” Johnson Jr. has long been recognized as an icon in basketball and business circles. Boasting an estimated net worth of $800 million, Johnson managed to move from playing on the basketball courts of Lansing, Michigan, to the boardrooms of major corporations with incredible ease. This article explores Johnson’s illustrious career, entrepreneurial ventures, and significant contributions on and off the field. was born in Lansing, Michigan on August 14, 1959. At a very young age 64 years old Johnson developed an obsession with basketball, admiring players like Earl Monroe and Bill Russell.
Early childhood and early basketball
Magic Johnson was born on August 14, 1959 in Lansing, Michigan. As Earl Monroe’s first fan, Johnson showed great promise while attending Everett High School – earning himself the nickname “Magic” due to a spectacular triple-double performance at age 15. he gave, then was admitted to Michigan State University (where he directed them). to victory over Indiana State and Larry Bird for an NCAA title in 1979 in an incredible game that became one of the most watched college basketball games of all time). At Michigan State, he led them to victory in an NCAA title game that made history, breaking every previous record since.
Domination in the NBA
Magic Johnson began his NBA career after being selected first overall by the Los Angeles Lakers in 1979, becoming an instant success by winning both an NBA championship and a Finals MVP in his first year. During 13 seasons with the Los Angeles Lakers, Magic appeared in 12 All-Star Games, won five NBA championships and three MVP awards; known for his unique blend of size and court vision; Johnson’s rivalry with Larry Bird significantly fueled interest in basketball during the 1980s.
A brief coaching stint
Since retiring in 1991 due to an HIV diagnosis, Magic returned to coaching briefly during the 1993-94 season, with the Lakers replacing Randy Pfund and Bill Bertka as coaches- Chiefs, winning five of the first six games under him as coach before subsequent defeats saw him retire but retain. involvement by purchasing a 5% share in the team.
Entrepreneurial businesses
Entrepreneurial Ventures Magic’s entrepreneurial efforts really took shape after his retirement from basketball. He created Magic Johnson Enterprises, now valued at more than $1 billion. One notable venture involved working with Starbucks CEO Howard Schultz to open stores in underserved urban areas – an act that proved to be both profitable and socially impactful.
Johnson and his partners acquired the Los Angeles Dodgers for $2 billion in 2012. Since then, he has also acquired a majority stake in the WNBA’s Los Angeles Sparks and co-owns an expansion team in the Major League Soccer – Los Angeles Football Club. (LOSFC). Additionally, in 2023, his investment group purchased Washington Commanders for $6.05 billion!
Impact on HIV awareness
Johnson’s public announcement of his HIV status in 1991 was a key moment in raising awareness. Through the Magic Johnson Foundation, he has helped dispel myths and reduce stigma around HIV/AIDS, bringing greater knowledge, treatment advances, prevention initiatives and overall treatment improvements. His advocacy had lasting ramifications.
Personal life and real estate
Magic married Cookie Johnson in 1991 and they share two children together – Earvin III (EJ) and Elisa, who rose to fame on the reality show Rich Kids of Beverly Hills. Johnson also has another child from a previous relationship named Andre. Currently, they reside in Beverly Hills and Dana Point, California and own property in Napili, Hawaii.
Real estate portfolio
Magic’s real estate projects are equally impressive. He and his wife own two stunning properties: a luxury residence in Beverly Hills and a Tuscan-style beach house in Dana Point; They previously owned one in Napili, Hawaii, but eventually traded it in exchange for closer proximity to their primary residence in California. His former Bel-Air estate (owned from 1981 to 1990) was listed at $14.5 million before being reduced to just over $10 million later in 2023.
The Nike legend
A popular urban legend has it that Magic Johnson turned down an offer from Nike in the late 1970s that could have made him a multi-billionaire. According to this version of events, Phil Knight offered Magic 100,000 shares of stock currently worth an estimated $5.2 billion; however, by July 1979, Magic had signed with Converse, making this story less plausible than before.
Magic Johnson’s legacy extends far beyond basketball accomplishments. From entrepreneurial success and HIV/AIDS awareness to community development through business ventures and his rise from one of the poorest athletes ever in Lansing to one of the richest athletes ever Time, Magic Johnson is remembered for his triumph, resilience and visionary leadership – an impressive legacy indeed!
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