Magic Johnson Net Worth

Magic Johnson Net Worth
Magic Johnson is an American retired professional basketball player and current president of the basketball operations of the Los Angeles Lakers of the National Basketball Association (NBA). He made his name playing the point guard for the Lakers for 13 seasons. Magic Johnson has been a known name in the NBA since 1979, when he was drafted by the Lakers. He has been a major influence in the world of basketball and has opened the doors for many young aspiring athletes, who hope to make it in the NBA industry. Magic Johnson’s estimated net worth is
$640 million.

Earvin “Magic” Johnson Jr., was born on August 14, 1959, in Lansing, Michigan, to Earvin Johnson Sr., a General Motors assembly worker and Christine Johnson, a school custodian. Magic Johnson has six siblings and even with the big family, his parents always told taught their children the importance of great work ethic. After work, Magic Johnson’s mother would usually spend her time, cleaning their home, while his father would worked other jobs as a janitor at a used car lot and collected garbage. There were times when Magic would help his father with collecting the garbage, but he would often get teased by other neighborhood children for collecting the garbage. Magic Johnson’s love of basketball came early and admired Bill Russell for his championships, more than his athletic ability. He also liked players, Earl Monroe and Marques Haynes. His dream became to be a basketball player and he practiced all day trying to perfect his skills, so he could be just as good as the players he idolized. By the time he got into the eighth grade, all he wanted to do was play basketball and became a junior high player, who once scored 48 points. After junior high, he attended, Everett High School, which was a predominately white school. He did not like going to this school the first few months he was there, because his brother had been kicked off of the basketball team, because of the racism that plagued the school after getting into a fight with another player. Unfortunately, Johnson had some of the same issues, expect, he quickly grew to accept the racism on the basketball team and in the school. He was first given his name, “Magic,” while attending, Everett High School, when he recorded a triple-double of 36 points, 18 rebounds, and 16 assists. Fred Stabley, a sports reporter, for the Lansing State Journal gave, him the name. In Johnson’s final high school season, he led Lansing Everett to a 27-1 win – loss, all while averaging 28.8 points and 16.8 rebounds per game, which took his team to overtime and a state victory. Once Magic finished his high school career, he had two all state selections, and was considered the best high school basketball player to come out of Michigan at the time. With this recognition, Johnson was also named to the 1977, McDonald’s All-American Team. After high school, Magic Johnson, had several options of different colleges to choose from, including UCLA, but chose to stay close to home and went to Michigan State, where he played point guard. Even though Johnson, loved playing basketball, his initial focus was his major in communications. He had planned on being a television commentator. However, his love of basketball took over what he had planned on doing in his college career. He was so good at his abilities in basketball, that during the 1978 – 79 season, Johnson was voted Most Outstanding Player of the Final Four, after his team won, the NCAA Tournament, after facing Indiana State.

After playing basketball for most his young life, Magic Johnson, was drafted by the Los Angeles Lakers in 1979. Once he played his first few seasons, he signed a 25 year and 25 million dollar contract with the Lakers. During the 1981 – 82 season, he performed very well, with an average of 18.3 points, 9.5 assists and 9.6 rebounds. He also had a league high of 2.7 steals per game and Johnson was voted a member of the All-NBA Second Team. In the 1984 – 85, Johnson averaged at 18.3 points, with 12.6 assists, and 6.2 rebounds. With these results, it helped lead the Lakers to the NBA Finals, where they faced the Boston Celtics and had a victory. The 1986 -86 season, was a career high for Johnson, with points, because he averaged at 23.9 points, with 12.2 assists and 6.3 rebounds. The Lakers and Celtics faced each other again at the NBA Finals, with Magic Johnson, shooting the winning shot. In the end he was awarded the Finals MVP Title. Over the next few years, Johnson played a great game, until he was injured in the 1988 – 89 season. Johnson’s great athleticism, helped him with having a great career, but in 1991, his life changed with the news of him being HIV positive. Although this unfortunate news, changed his life, he was still offered the opportunity to play in the 1992 Summer Olympics basketball team, and they won. After Johnson retired from basketball, he wrote three books, My Life, Magic, and Magic Touch as well as managed several businesses, but he returned to the NBA to coach the Lakers near the end of the 93 – 94 season. However after coaching for awhile, the Lakers went on a ten game losing streak, which resulted in Magic Johnson retiring as the coach. During the 1995 – 96 season, he came back to play and averaged 14.6 points, 6.9 assists, and 5.7 rebounds per game. After this game, he had retired for good.

Magic Johnson is someone who has shown that despite what people may go through and their downfalls, they can still pursue their dreams. For his hard work, he has earned and won many awards. In 1979, he was named the NCAA Men’s Division I Basketball Tournament Most Outstanding Player. He has also won the Most Valuable Player Award three times, 1987, 1989, and 1990. He was given the J. Walter Kennedy Citizenship Award in 1992 and was honored as one of the 50 Greatest Players in NBA History in 1996. He has won many other awards that are outside of his profession as a basketball player, that has shown his fans over the years why he deserves the awards he wins or is honored with. One award he won, that showed honor in who he is in the world, was the BET Humanitarian Award. He also won a Grammy Award for Best Spoken Word Album, for his audio book, What You Can Do to Avoid AIDS. In 2009, he won the NAACP Image Award for Outstanding Literature, for his book, 32 Ways to Be a Champion in Business. Johnson also won The BET Honors Award for Corporate Citizen in 2009. Along with Magic Johnson being the winner of the 1992 Olympic Gold Medal, he was also inducted into the Basketball Hall of Fame twice. His first induction came in 2002, in honor of his individual career and again 2010, he was inducted, because he was a member of the Dream Team.

Net Worth of Magic Johnson
With Magic Johnson’s many different business ventures outside of basketball, he has always been open minded about exploring different business opportunities. In 1998, Johnson hosted a late night talk show on the Fox Network, called The Magic Hour, but because the show brought in low ratings, it was cancelled after two months. After the cancellation of his show, he started his own record label, called Magic 32 Records, and singer, Avant, was his first signed act. Johnson also co-promoted Janet Jackson’s Velvet Rope Tour through his company Magicworks and afterwards he worked for Turner Television Network for seven years until 2008 when he became a studio analyst for ESPN’s, NBA Countdown. Other business ventures that Magic Johnson explored, was opening up his own movie theaters, called Magic Johnson Theaters and he also had the Magic Card, which was a pre-paid Mastercard aimed at helping low income people save money. In 1994, Johnson became a minority owner of the Lakers and held the title of team Vice President. However, in 2010, he sold his ownership, but still held the Vice President title. In 2015, he completed his planned acquisition for a “majority controlling interest” in Equitrust Life Insurance Company. Magic Johnson’s net worth is $640 million, and he owes much of his success to his career as a basketball player as well as to his many business ventures outside of the NBA, which include his authorship of his books, his investment in his many different business, and now his title as President of the basketball operations of the Los Angeles Lakers.

Personal Life
Magic Johnson has not had a personal life that was too public, outside of his HIV status, but he has been a very dedicated husband to his wife, Earlitha “Cookie” Kelly, whom he married in 1991. Even with his positive diagnosis, Cookie, still stayed with Magic Johnson and has been the positive part of his life ever since. However, Magic Johnson did have a brief relationship with Melissa Mitchell, which resulted in them having a son together, in 1981. Outside of his issues with his HIV, magic Johnson, has continued to live positively.

For over thirty years, Magic Johnson has been a name that basketball fans have loved. When thinking about the NBA, people begin to think about Magic and how he brought his own style of play to the game. Although, he has is on the outside of the court and has been retired for many years, his love of the game and of the Lakers is still very evident. Magic Johnson even has a very well known voice in the HIV community. He is the founder of the Magic Johnson Foundation, which is an organization to combat the HIV/AIDS virus. Johnson is also and activist for HIV and was the main speaker at the United Nations for World AIDS Day Conference in 1999. Magic Johnson will forever be known as the basketball player with the heart and passion to do everything that he truly connects with.

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