Lakers Legend Magic Johnson Net Worth in 2020

Former Lakers President of Basketball Operations is one of the best players to ever hit the court. He has won five championships in his incredible career. Johnson had to finish his career in 1991 as he contracted HIV. Johnson is one of the NBA greats. He is also one of the richest former athletes at the global level. The 12-time NBA All-Star has stakes in MLB’s Los Angeles Dodgers and WNBA’s Los Angeles Sparks. Johnson Enterprises is pretty successful right now. So, can you make any guesses regarding Magic Johnson and his net worth?

Numerous reports suggest that Johnson’s net worth has reached $600 million. In his NBA career, the basketball legend has made about $24 million in salary. This amount hasn’t been adjusted for inflation. According to some reports, the Lakers paid Johnson $10 million from 2017 to 2019 when he was the team’s President of Basketball Operations.

Magic Johnson to add more net worth

Johnson owns a stake in the Dodgers and Sparks. Jerry Buss sold him 4.5% of the Lakers shares for $10 million following his retirement. Johnson shared the stakes till 2010 and then sold them for $50-$60 million.

The former Laker has made some smart investments. He started Magic Johnson Enterprises after buying a stake in a movie theatre in Baldwin Hills. Today, his company invests in theatres, real estate, health clubs, and promotional marketing company. Johnson has bought 125 Starbucks locations and sold them in 2010. Reports reveal that Johnson’s company stands at $1 billion. The Lakers legend bought the LA Sparks in 2014.

In March 2012, Johnson was part of the Guggenheim Baseball Management. He bought a majority stake in the Dodgers when the team went bankrupt. The ownership group bought the franchise for $2.15 billion. The Dodgers won the World Series. They stand at $3.4 billion right now. Magic owns a 2.3% stake in the team. He has invested $50 million during the buying process.

Johnson and his life live at Beverly Park in Beverley Hills. They own a beach house in Dana Point at Orange County, California. The NBA icon owned a house in Hawaii, and they sold it before buying a mansion located near Beverley Hills.