NBA Hall of Famer Magic Johnson has held positions as a player, coach, executive, and owner. In 2023, let’s take a look at Magic Johnson’s net worth.
In 2023, Magic Johnson will have a $620 million net worth. NBA fans are most familiar with Johnson as probably the best point guard in history. The Lakers icon is a significant figure in NBA history, having won three NBA Finals MVP awards and five championships to his name. But in this post, we’re focusing on Magic Johnson’s estimated net worth for 2022.
Magic Johnson’s net worth in 2023: $620 million
Earvin “Magic” Johnson Jr. was born on August 14, 1959, in Lansing, Michigan, and would go on to become one of the most known figures in sports. Johnson had a terrific career on the court, but he also excelled in a variety of rewarding undertakings off the court. The 61-year-old entrepreneur’s estimated net worth in 2023 will be $620 million, but how did the Lakers legend get there?
Magic Johnson is drafted first overall by the Lakers
Johnson was selected first overall by the Lakers in 1979 after winning titles at Michigan State and both his high school and college levels. He agreed to a 25-year, $25 million contract with Los Angeles at the start of the 1980s. You read that right—25 years. The agreement was established in 1984 and ended in 2009. Future plans called for Johnson to join the team’s front office; these plans ultimately materialized.
In his debut season, Johnson was given full control of the Showtime Lakers. Playing alongside future Hall of Famer Kareem Abdul-Jabbar, Johnson helped the team win its second championship since coming to Los Angeles before the 1960–61 season and their first since 19723. The first of Magic Johnson’s three Finals MVP awards was won.
Magic Johnson’s Lakers dominate the Western Conference
Johnson again led the team to an NBA championship in the 1981–82 season after injuries cut short his sophomore season, the only year of his career in which he wasn’t chosen an All-Star. Johnson and the Lakers went on an unbelievable run, winning four NBA championships while making the NBA Finals seven times in eight seasons.
The Phoenix Suns defeated the 63-19 Lakers in the Western Conference Semifinals in five games, despite the fact that Johnson’s 1989–90 campaign was perhaps his best regular season and the year he earned his only MVP award. The next year, they made it back to the Finals but fell to Michael Jordan and the Chicago Bulls in five games, denying them of their first of three consecutive championships.
Magic Johnson becomes president of Lakers
Johnson succeeded Jim Buss as the Lakers’ president of basketball operations in February 2017. During his brief administrative stint, the team did not make the playoffs, but in 2018, they were able to sign LeBron James. 2019 saw Johnson’s sudden resignation from the job.
Johnson has excelled as a player, but he is also a shrewd businessman. Over the years, he has made investments in a variety of businesses, including real estate, coffee shops, record labels, theaters, and sporting goods shops. Naturally, all of this contributes to the estimation of Magic Johnson’s net worth in 2023.
Magic Johnson becomes part owner of sports teams
He acquired a portion of the Los Angeles Dodgers in March 2012. Johnson participated in the WNBA Los Angeles Sparks’ acquisition in 2014. Additionally, he shares ownership of Los Angeles FC, an MLS expansion team that debuted in 2018.
In 2023, Johnson increased the size of his holdings by acquiring a portion of the NFL team Washington Commanders. Only a few years after dropping the Redskins moniker, the team said that it would be attempting to change its name once more.
Magic Johnson’s other business ventures
Throughout his NBA career, Johnson received a salary of almost to $40 million. His investing company, Magic Johnson Enterprises, currently holds investments across numerous industries valued at an estimated $1 billion. Given his standing as a genuine icon and his abilities as a businessperson, it is reasonable to predict that his value will increase with time.
Johnson obviously has generational riches, but more wealth is still to come as his body of work off the court expands—from business deals to his overall image trending positively toward being a speaker.
We’ll see where Magic goes from here; when it comes to producing money, he undoubtedly still has enough of magic in him. But were you at all taken aback by Magic Johnson’s wealth in 2023?