June 28, 2022

Magic Johnson Net Worth: Salary, Income, Bio & Career!

4 min read

His estimated net worth is $620 million as of 2022, and he’s regarded as a wealthy athlete by many.

American retired professional basketball player and ex-president of the National Basketball Association’s Los Angeles Lakers, Earvin “Magic” Johnson Jr. For 13 seasons, he was the Lakers’ point guard. When the Lakers selected Johnson first overall in the 1979 NBA draught, he had already won high school and collegiate championships.

Early Years

Earvin Johnson Jr. was born in Lansing, Michigan, on August 14, 1959. His parents are Earvin Sr. and Christine Johnson.

During his father’s absences from work, his mother cleaned the house and prepared the meals for the next day while he worked janitorial duties at a used car lot and collected rubbish.

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Magic Johnson Net Worth Growth in the Last 5 Years

Net Worth in 2022 $620 Million
Net Worth in 2021 $560 Million
Net Worth in 2020 $520 Million
Net Worth in 2019 $480 Million
Net Worth in 2018 $440 Million
Net Worth in 2017 $400 Million

The NBA’s Career

The Lakers selected Magic Johnson with the first overall pick in the 1979 draught. After leading the Lakers to the NBA Finals in his rookie season, Magic was awarded MVP of the NBA Finals and Kareem Abdul-Jabbar won the championship with him. For the Lakers, Magic won five NBA championships between 1980 and 1988. This man was named NBA Finals MVP three times (1980-1982 and 1987-1988). In 1987, 1989, and 1990, he was named the NBA’s Most Valuable Player for the third time. He was a 12-time All-Star game participant and two-time All-Star game MVP. He’s widely regarded as the best point guard in NBA history.

magic johnson net worth

The HIV infection he contracted in 1991 ended Magic’s career.

Magic returned to the NBA at the end of the 1993-94 NBA season as the coach of the Los Angeles Lakers. At Jerry Buss’s insistence, he took the places of Randy Pfund and Bill Bertka. The Lakers had a good start under Johnson, winning five of their first six games, but after losing their next five games, Johnson announced that he would be resigning as coach at the end of the year. A losing streak of 10 games ended the Lakers’ season and Johnson’s record as a head coach was 5–11. In June 1994, he bought a 5% stake in the team instead of coaching, claiming it was never in his plans.

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A comeback as a player was tried by Magic Johnson in the 1995-96 season when he rejoined the Lakers at the age of 36. When Johnson played for the Lakers, they had a 22–10 record, and he deemed his final comeback “a success.” The Lakers’ first-round playoff exit to the Houston Rockets was Johnson’s final game as a player.

Johnson played in 905 NBA games, scoring 17,707 points, grabbing 6,559 rebounds, and dishing out 10,141 assists for a career average of 19.5 points, 7.2 rebounds, and 11.2 assists per game.

A single-game playoff record of 24 assists is shared by Johnson, who also holds the Finals mark for assists in a game (21). (2,346). He is the first player in NBA Finals history to average 12 assists a game, having done so six times. He has the most assists in an All-Star Game single game (22) and the most assists in a career.

Retirement

magic johnson career

When Johnson found out he had HIV in November 1991, he started the Magic Johnson Foundation to raise money to fight the disease. Johnson has worked as a businessman, philanthropist, and broadcaster in addition to advocating for HIV/AIDS prevention and safe sex. In 1991, when he announced that he was HIV-positive, he stunned the public and dispelled the notion that HIV was a “gay sickness” that heterosexuals were safe from.

Magic The Entrepreneurial

Magic hasn’t had a peaceful retirement. Magic Johnson Enterprises, which he founded in retirement, is now worth over $1 billion and has given him a net worth of $600 million. They have a movie studio, a theatre chain, and an advertising agency under their umbrella. Magic paid $10 million in 1994 to acquire 5% of the Los Angeles Lakers, which he sold to billionaire Patrick Soon-Shiong in 2010 for a reputed $50-60 million. Johnson’s Starbucks chain was sold for $75 million in 2010 as well.

The Los Angeles Dodgers were purchased by Magic Johnson and a group of investors for $2 billion on March 27, 2012. Here’s where you can learn more: The Dodgers are now owned by Magic Johnson, who paid $2 billion for them.

Private Life

in Lansing, Michigan, in 1991, Johnson married Earlitha “Cookie” Kelly. Earvin III (EJ), born in 1992, is the couple’s kid who is openly gay. On the reality show Rich Kids of Beverly Hills, EJ appeared. In 1995, Magic and Cookie adopted their daughter Elisa. Johnson and his wife live in Dana Point, California, and Beverly Hills.

Earlitha Kelly

Furthermore, Johnson is also the father of another child from a previous relationship. To Melissa Mitchell in 1981 came Andre Johnson. While growing up, Andre was fortunate enough to spend every summer with Magic and subsequently became a marketing director for Magic Johnson Enterprises.

Amounts Earned

Just over $18 million in salary and several million in endorsements were Magic’s total earnings while playing in the NBA.

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Houses

Beverly Park is a gated community in Beverly Hills where Johnson and his wife have a home. Orange County, California is home to a Tuscan-style beach villa owned by the couple. Their previous home in Napili, Hawaii, was too far away for their children to visit as they grew older, so they traded it in for a beach property around 75 miles south of Los Angeles.

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