We know about his basketball legacy. But many people aren’t aware of Johnson’s major moves off the court. The NBA Hall of Fame inductee has a portfolio that is widely diverse. From restaurants to owning stake in 150 Starbucks franchises, Magic Johnson has had his hand in almost everything.
How did Johnson actually reach a networth of $500 million? Well, CNNMoney created a video that shows how Johnson became the business mogul. Some of the highlights are:
- Owned 5% share of the Los Angeles Lakers (valued at $10 million)
- Sold his Lakers shares for 3x’s more than what he paid for them
- Partner in $2 billion purchase of the Los Angeles Dodgers
- Founded Magic Johnson Enterprises (which owned movie theaters, restaurants, fitness centers, and more)
- Sold his stake in Starbucks for $75 million
- Prepaid debit cards
- Rent-A-Centers
- Sports TV Analyst
If Magic Johnson continues to make the the right investments, he will become a billionaire in no time.
