Magic Johnson Biography: Earvin “Magic” Johnson Jr., born on August 14, 1959, is an American businessman and former professional basketball player. Widely considered one of the greatest point guards in basketball history, Johnson spent his entire NBA career with the Los Angeles Lakers. After leading the Michigan State Spartans to a national championship in 1979, he was selected as the first overall pick in the 1979 NBA Draft by the Lakers.
Magic Johnson Biography
Magic Johnson’s 2025 net worth reflects his remarkable success not just as an NBA legend, but as a savvy businessman. While he’s best known for his dominance on the basketball court, his entrepreneurial spirit started long before his professional playing days. Growing up in Lansing, Michigan, Johnson got an early glimpse into the business world as a teenager, working as a janitor in a seven-story office building.
Magic Johnson Biography 2025 Details
| Born | August 14, 1959 Lansing, Michigan, U.S. |
|---|---|
| Listed height | 6 ft 9 in (2.06 m) |
| Listed weight | 220 lb (100 kg) |
| High school | Everett (Lansing, Michigan) |
| College | Michigan State (1977–1979) |
| NBA draft | 1979: 1st round, 1st overall pick |
| Drafted by | Los Angeles Lakers |
| Playing career | 1979–1991, 1996, 1999–2000 |
| Position | Point guard |
| Number | 32 |
| Category | Football Biographies |
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Magic Johnson Achievements
During his time with the team, he helped guide them to five NBA championships during their iconic “Showtime” era. Johnson shocked the sports world by announcing he had contracted HIV, prompting an early retirement. However, he returned to play in the 1992 NBA All-Star Game, where he earned the All-Star MVP award.
About Magic Johnson
Earvin “Magic” Johnson Jr. is an American businessman and former professional basketball player. Often regarded as the greatest point guard of all time, Johnson spent his entire career with the Los Angeles Lakers in the National Basketball Association.
Magic Johnson Personal Life
I would clean the first six floors, but on the seventh floor—the CEO’s office—I’d walk in, put my feet up on the desk, and pretend I was the CEO,” Johnson shared during Advancing the Dream: Live from the Apollo in 2013, as reported by MSNBC. “I grew up poor, but I didn’t have poor dreams.”
Magic Johnson Wiki
- Born: 14 August 1959 (age 65 years), Lansing, Michigan, United States
- Net worth: 150 crores USD (2025) Forbes
- Dates joined: 1992 (1992 United States men’s Olympic basketball team) ·
- Teammates: Michael Jordan, Larry Bird, Charles Barkley ·
- Children: EJ Johnson, Andre Johnson, Elisa Johnson
- Spouse: Cookie Johnson (m. 1991)
Early life
Earvin Johnson Jr. was born in Lansing, Michigan, to Christine, a school janitor, and Earvin Sr., a General Motors assembly line worker. He was one of ten children, including six siblings and three half-siblings from his father’s previous marriage. Johnson was deeply influenced by his parents’ strong work ethic. His mother, after long days at work, would still come home to clean and prepare meals for the next day. Meanwhile, his father took on additional jobs—doing janitorial work at a used car dealership and collecting garbage—without ever missing a day at General Motors.
As a child, Johnson often helped his father on his garbage route, earning him the nickname “Garbage Man” from neighborhood kids. Raised in the Seventh-day Adventist Church by his mother, Johnson developed a love for basketball at an early age. He idolized Bill Russell for his championship success, and also looked up to players like Earl Monroe and Marques Haynes. Known for practicing for hours on end, Johnson’s passion for the game was supported by his athletic family.
What Is Magic Johnson Famous For?
Magic Johnson, born Earvin Johnson Jr., earned his nickname in high school after a standout performance of 36 points, 16 rebounds, and 16 assists in one game. Drafted first overall by the Los Angeles Lakers in 1979, the 6’9″ point guard became a five-time NBA champion and three-time MVP. His storied rivalry—and eventual friendship—with Boston Celtics star Larry Bird helped define an era of basketball.
In 1991, Johnson shocked the world by announcing he had contracted HIV, prompting his retirement. He later returned to play in the 1992 All-Star Game and was part of the gold medal–winning U.S. “Dream Team” at the Olympics. His return inspired millions living with HIV and other health conditions, showing that life after diagnosis could still be full and productive.
What Does Magic Johnson Do Today?
Today, Johnson is a highly successful entrepreneur focused on urban economic development. Through Magic Johnson Enterprises, he invests in underserved communities, building wealth and opportunity. He’s vocal about promoting generational wealth within the Black community and providing role models beyond the sports world. “We have power and a seat at the table,” he told The Guardian in 2021.
What Is Magic Johnson Enterprises?
Founded in 1987, Magic Johnson Enterprises is Johnson’s investment company, aimed at delivering top-quality goods and services to ethnically diverse, underserved areas. The firm has held investments in various industries, including entertainment, food services, finance, and media. According to Fox Business, by 2020, the company had assets worth around $1 billion.
How Much Did He Earn in the NBA?
Johnson signed a groundbreaking 25-year, $25 million contract with the Lakers—the longest and richest in sports at the time. Though he later earned more through renegotiated deals, this contract cemented his future with the team and began his transition from athlete to businessman.
Why Did Magic Johnson Turn Down Nike?
Back in 1979, Nike offered Johnson a sponsorship deal that included stock options. Unfamiliar with the stock market, he chose a $2 million-a-year deal with Converse instead—a decision he later regretted. “I didn’t know anything about stock… boy, did I make a mistake,” he said, noting how valuable those Nike shares would be today.
How Much Did He Make From Starbucks?
Johnson’s 1998 partnership with Starbucks helped bring the brand to inner-city communities. He convinced CEO Howard Schultz by showing him a packed movie screening at one of his theaters. Their 50/50 venture, Urban Coffee Opportunities, launched 125 stores. Although exact earnings aren’t public, Johnson has said the deal “changed everything” for his business reputation.
What Other Businesses Has He Owned?
Beyond Starbucks, Johnson has invested in Burger King, gyms, and movie theaters. He also owns stakes in Aspire TV and EquiTrust. These ventures align with his mission to invest in communities often overlooked by major corporations.
Does Magic Johnson Still Own Part of the Lakers?
In 1994, Johnson purchased a 4.5% stake in the Lakers for $10 million. He sold his share in 2010 but has remained a passionate supporter of the team. “I am and will always be a Laker for life,” he said after the sale.
What Sports Teams Does He Own Now?
Johnson is a co-owner of several major sports teams, including the Los Angeles Dodgers (MLB), Los Angeles Sparks (WNBA), and Los Angeles FC (MLS). He joined the Dodgers’ ownership group in 2012, contributing $50 million to a record $2.15 billion deal. He also purchased part of the Sparks in 2014, having been a fan since their inaugural game in 1997.
What Philanthropic Work Has He Done?
Johnson founded the Magic Johnson Foundation in 1991 to support education, health, and social needs in urban communities. By 2014, it had raised over $20 million and provided nearly $4 million in scholarships. During the COVID-19 pandemic, he also partnered with MBE Capital Partners to deliver $100 million in loans to minority- and women-owned small businesses through EquiTrust.
What Is Magic Johnson’s Net Worth in 2025?
As of 2025, Magic Johnson’s net worth is estimated at $800 million, according to Celebrity Net Worth. While he built his fame on the basketball court, much of his fortune comes from smart business investments. A significant portion of his wealth stems from his stake in EquiTrust, a life insurance company based in Iowa, as noted by Forbes.
FAQs
Does Magic Johnson own Burger King?
Over the years, Magic Johnson Enterprises has continually invested ownership in many lucrative businesses such as the Los Angeles Lakers, movie theaters and restaurants in the United States, including T.G.I. Friday’s, Sodexo, and Burger King locations.
Why is Magic Johnson so rich?
Although he achieved massive success as a basketball player, he made his fortune mostly through savvy business partnerships. According to Forbes, most of his wealth comes from his stake in Iowa-based life insurance provider EquiTrust.
Did Magic Johnson get a 25 year contract?
In 1981, after the 1980–81 season, Johnson signed a 25-year, $25 million contract with the Lakers (equivalent to $86,000,000 in 2024), which was the highest-paying contract in sports history up to that point.
Does Magic Johnson own Pepsi?
and Magic Johnson completed the $60 million transaction to own a Pepsi franchise in July 1990, their achievement became the deal-making choice of a new generation; growth through partnership and acquisition.
Does Magic Johnson own Starbucks?
Although Johnson sold his stake in the Starbucks stores in 2010, earning himself $100 million in the process, the legacy of the partnership lives on in Starbucks’ Community Stores.