As of 2022, Magic Johnson is estimated to have a net worth of approximately $620 million. He is one of the legendary basketballers and is often compared to another legendary player, Michael Jordan.
The two time Hall of fame inducted black athlete is also a successful businessman. Here know the more details of his net worth, salary, income sources, house, cars, and charities.
As of 2022, Magic Johnson is estimated to have a net worth of around $620 million according to Celebrity Net Worth. He mostly earned from his career as a retired American Basketball player and currently a businessman.
Johnson was firstly dubbed as Magic when he was 15 years old after making a record of a triple-double of 36 points, 18 rebounds, and 16 assists. When he graduated from college, he was recruited by many top colleges but he decided to play close to home and entered Michigan State, East Lansing.
In 1979, he was drafted in the National Basketball Association by Los Angeles Lakers. He was the first rookie to be starring in an NBA All-Star game. He firstly excelled at the position of the point guard.
He spent all his career playing for the Los Angeles Lakers. In almost 12 years of career in Lakers, he was chosen the playoff MVP three times and All-Star twelve times. In 1979, he was signed by the Los Angeles Lakers in just $500,000 and was eventually increased salary from six-digit figure to seven.
A source revealed that he had the earning of around $22 million in 2014 and $18 million in 2015. Here is the list of his salary from the Los Angeles Lakers.
|1979||Salary from Los Angeles Lakers||$500,000|
|1980||Salary from Los Angeles Lakers||$500,000|
|1981||Salary from Los Angeles Lakers||$1,000,000|
|1982||Salary from Los Angeles Lakers||$1,500,000|
|1983||Salary from Los Angeles Lakers||$2,000,000|
|1984||Salary from Los Angeles Lakers||$2,500,000|
|1985||Salary from Los Angeles Lakers||$2,500,000|
|1986||Salary from Los Angeles Lakers||$2,500,000|
|1987||Salary from Los Angeles Lakers||$2,500,000|
|1988||Salary from Los Angeles Lakers||$3,100,000|
|1989||Salary from Los Angeles Lakers||$3,100,000|
|1990||Salary from Los Angeles Lakers||$2,700,000|
|1991||Salary from Los Angeles Lakers||$2,500,000|
|1992||Salary from Los Angeles Lakers||$2,500,000|
|1993||Salary from Los Angeles Lakers||$2,500,000|
|1994||Salary from Los Angeles Lakers||$14,600,000|
|1995||Salary from Los Angeles Lakers||$14,600,000|
In 1992, he was the member of ‘The Dream Team’ aka 1992 United States men’s Olympic basketball team and also won the Olympic gold medal in 1992. Moreover, he was honored as one of the 50 Greatest Players in NBA History.
Back in 2002, Johnson was inducted into the Basketball Hall of Fame for the first time. Eventually, in 2010, he was inducted into the Basketball Hall of Fame as the member of the Dream Team.
In 1991, it was found that he was tested HIV positive. After he found out, he held a press conference and announced that he would retire. Later, he admitted that he was infected to the virus due to numerous sexual partners in his playing career. He even admitted that he went on ‘harems of women’.
The story of Magic being infected by HIV became a major news story and in 2004, it was named as ESPN’s seventh most memorable moment of the previous 25 years.
In 1992 Summer Olympics, he was the most voted person by fans as a starter for the 1992 NBA All-Star Game at Orlando Arena.
In 1994, he retired from his career and appeared as a coach but could not stand the position. And Johnson formally retired in 1996. He retired with the stats of 17,707 points, 6,559 rebounds, and 10,141 assists.
Apart from his career, he also makes money as an entrepreneur. His first move as a businessman was purchasing 4.5 % stake for $10 million in the Los Angeles Lakers. In 2010, his $10 million worth stake was worth around $50 million.
In 1998, he invested in Starbucks and later he sold his 50% partnership of Starbucks. From the deal, he earned around $100 million. He also launched Magic Johnson Theaters. In 2012, Magic purchased Los Angeles Dodgers in $2 billion.
Besides that, Magic Johnson makes around $3,601.5 to $6,002.5 from his Instagram account per sponsored post. Furthermore, a site reported his earnings to be around $1 million per annum from the source.
Besides that, he collects a few million from his endorsements deals. He publicly endorsed Phil Angelides, Hillary Clinton, Barbara Clinton, Barack Obama, and Wendy Greuel in their campaign.
A reliable site cited, he charges from around $2 million to $15 million per brand endorsements deals and lucrative agreements. Till date, he has endorsed brands like Converse ($2,000,000), Campofrio ($3,000,000), and many more.
The multi-millionaire Magic Johnson is currently living a luxurious lifestyle. He owns a house in Dana Point, Los Angeles worth somewhere around $7.6 million. His house features seven bedrooms and 7.5 bathrooms. Inside his garage there are cars including Ferrari (average price $252,800), BMW ($51,250), H2 Hummer ($59,880) and GMC Truck ($33,500).
Talking about his insurance, he himself owns an insurance company in his business ventures. So, it is sure that he has insurance of himself and his other ventures.
Regarding his charity, he is highly involved in charity works and campaigns. He supports many nonprofit organizations including
Magic Johnson was born on 14 August 1959 under the sun sign Leo. He is the fourth child of father Earvin Johnson and mother Christine Johnson. He was born and raised in Lansing, Michigan alongside his six brothers and sisters.
Coming to his personal life, Magic Johnson is married to Earlitha "Cookie Johnson" Kelly. They exchanged the vows in an intimate wedding ceremony in Lansing in 1991. The couple is blessed with a child; son Earvin III (EJ).
When he held the conference revealing his disease, he also revealed that his wife and unborn baby were tested negative for HIV. In 1995, the power duo also adopted a daughter; Elisa.
Did You Know? His son; EJ is openly gay and is one of the stars on the reality TV show Rich Kids of Beverly Hills.
Regarding his past Relationship, Magic was in a romantic relationship with Melissa Mitchell. The estranged couple is blessed with a child; son Andre Johnson.
As of 2022, Magic Johnson is 62 years old. He has a height of 6 feet 7 inches or 200cm and weighs around 99.8 kgs or 220lbs.