Magic Johnson May Soon Be The Next Billionaire

 

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.