NBA Legend Magic Johnson Earns Billionaire Status According to Forbes

64-year-old Magic Johnson is famous for his career as an NBA player. However, he has been retired from the sport for many years and now has a vested interest in business. He has celebrated a significant milestone.

Magic Johnson recently became the fourth athlete that Forbes has ever named a billionaire. He shares this accolade with athletes like Tiger Woods, Michael Jordan, and Lebron James.

Earvin "Magic" Johnson expressed an interest in becoming a businessman in 1990 when he was 31 years old. He shared that he planned to have stakes in a franchise, and he didn't even need it to be his home team, the Lakers.

What Business is Johnson Involved In?

Johnson now owns stakes in the NFL's Washington Commanders, MLB's Los Angeles Dodgers, the WNBA's Los Angeles Sparks, and MLS's LAFC. He also owns Magic Johnson Enterprises, which is involved in everything from movie theatres to healthcare.

Johnson's most significant venture has been the insurance provider EquiTrust. The majority of his net worth is allegedly earned through this insurance company. Johnson finds his businesses as crucial as he used to find basketball. He once shared:

"People may know Magic, but they don't know Earvin."

When he was younger, he said the businessmen in the town where he grew up inspired him to one day own an office building. Now, Johnson is encouraging other young men to reach their full potential.