Magic Johnson net worth: How much is the retired Lakers icon worth?

Magic Johnson, 61, is widely regarded as one of the best players to ever play in the NBA. Johnson won five titles in his career, which was cut short after he contracted HIV in 1991. Not only is Johnson one of the NBA greats, but he is also currently one of the richest former athletes in the world. Along with his company Johnson Enterprises, the 12-time NBA All-Star also owns stakes in two teams – MLB's Los Angeles Dodgers and WNBA's Los Angeles Sparks. 

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Magic Johnson career earnings and net worth

According to various sources, Johnson's net worth is currently at $600 million. During his NBA career, Johnson made around $24 million in salary – an amount which has not been adjusted for inflation. While there was no confirmation, Johnson was apparently paid $10 million by the Lakers from 2017 to 2019 when he was their President of Basketball Operations. 

While Johnson currently owns a stake in the Dodgers and Sparks, Jerry Buss had sold him 4.5% of the Lakers shares for $10 million after his retirement. The Michigan native held the stakes till 2010, after which they were sold by him for around $50m-$60m.

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MAGIC JOHNSON 🏆

▪️ HS State Champion
▪️ NCAA Champion (MSU)
▪️ 5 x NBA Champion (Lakers)
▪️ Olympic Gold (Dream Team)
▪️ WNBA Champion (Sparks)
▪️ World Series Champion (Dodgers) pic.twitter.com/Yu8Cy5wiJk

— Ballislife.com (@Ballislife) October 28, 2020

Magic Johnson investments

In 1995, Johnson started Magic Johnson Enterprises after he bought a stake in a movie theatre in Baldwin Hills. Now, his company has grown to invest in more theatres, real estate, health clubs and even a promotional marketing company. He also bought 125 Starbucks locations, which he sold in 2010. Per reports, his company is currently worth $1 billion. He bought the LA Sparks in 2014. 

Magic Johnson owns Dodgers with a $3.5 billion business group

In March 2012, Johnson was a part of the ownership group – Guggenheim Baseball Management – that bought a majority stake in the LA Dodgers when the MLB franchise went bankrupt. The group bought the team for $2.15 billion. The Dodgers, who recently won the World Series, are said to be worth $3.4 billion now. Johnson owns a 2.3% stake in the team and had invested $50 million during the purchase. 

Also read | Who owns LA Dodgers? American business group worth a whopping $3.4 BILLION; Magic Johnson Dodgers stake

In 1988, the Lakers and the Dodgers won their respective league titles, making LA the first city to win a World Series and NBA title in the same year.

They did it again this year.

Magic Johnson has been part of both.

➖ Lakers player - 1988
➖ Dodgers owner - 2020 pic.twitter.com/pMMu3PZhWC

— Front Office Sports (@frntofficesport) October 28, 2020

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The retired NBA star currently lives at his lavish home at Beverly Park in Beverley Hills with his wife. The couple also owns a beach house in Dana Point at Orange County, California. They even owned a house in Hawaii, which they later sold before purchasing a beach house located near Beverly Hills. 

Disclaimer: The above Magic Johnson net worth information is sourced from various websites and media reports. This website does not guarantee 100% accuracy of the figures.

(Image credits: AP)