And the legendary basketball player Magic Johnson in the club of billionaires

An economic magazine estimated Johnson's wealth at $1,2 billion

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Photo: Reuters
Photo: Reuters
Disclaimer: The translations are mostly done through AI translator and might not be 100% accurate.

Forbes included former basketball star Magic Johnson in the circle of billionaires, making the former Los Angeles Lakers player only the fourth athlete to join the prestigious rich club.

Economic magazine estimated Johnson's wealth at $1,2 billion.

Other billionaire athletes are the American NBA professional basketball league Michael Jordan, who has not played for a long time, and LeBron James, as well as golfer Tiger Woods.

Johnson has invested in many companies and has ownership stakes in various sports clubs.

Forbes states that his holdings in life insurance companies make up the largest part of his wealth.

Johnson, 64, had one of the best careers in NBA history before retiring in 1996.

However, he earned most of his money outside of sports.

Forbes states that Johnson earned $40 million in the NBA.

He owns an ownership stake in three clubs from Los Angeles, including the Los Angeles Dodgers baseball team.

Outside of sports, he has invested in Starbucks, Burger King, 24 Haur Fitness and life insurance company EquiTrust (EquiTrust).

Johnson stated that he could have become a billionaire even earlier if he had not turned down shares in one of the largest manufacturers of sports equipment, Nike, when he entered the NBA in 1970.

Instead, he accepted Converse's offer of $100.000 a year.

"My family had no money, that's something that can hurt.

"When you don't have money, you don't know. At the time, I didn't even know what shares were, so I turned them down. Don't believe it! Those shares would be worth five billion dollars today, 45 years later," Johnson told the podcast earlier this year. All The Smoke.


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