The success of the multiple companies created by Magic Johnson

Multiple champion, protagonist of a golden age of Los Angeles Lakerswinner of 5 NBA rings and member of the US national team gold at the 1992 Barcelona Olympics. Talk about Earvin Johnson Jr. is unquestionably synonymous with the best basketball in history, and his nickname “Magic” reflects it perfectly. He was born on August 14, 1959, he is celebrating 63 yearsideal excuse to read about it one more time.

He served as a point guard throughout his career at the same club, and together with Kareem Abdul Jabbar they created “Showtime”, until in 1991 he announced that he had contracted the HIV virus. Thanks to the support of his teammates and the public’s request, he played one more season, becoming the first HIV-positive player to do so.

Despite a brief return to the game in 1996, what he really did extraordinary way Magic Johnson was to develop an entrepreneurial side which allowed him to collect a fortune. To give us an idea, 6% of his assets were achieved as a player’s salary, adding up to 40 million dollars. The total of your estimated money today is over 600 million.

Already in 1987 he founded Magic Johnson Enterprises, clear demonstration of his early entrepreneurial vision. In his book entitled “32 Ways to be a Champion in Business” of the year 2009 recounts his experience obtained within the courts and also in the management of several companies, and is also dedicated to providing on average 40 annual conferencesmotivational talks in companies such as Nike, Nestlé, Facebook o Mastercardamong many others.

Until 2010 Magic Johnson was a shareholder of the Lakerswhen he decided to sell his share of the 4,5% for a total of $27 million. Currently is owner of four teams in different disciplines: Los Angeles Sparks (women’s basketball), Los Angeles FC (from MLS soccer), Los Angeles Dodgers (baseball) and Oklahoma City Dodgers (from the baseball development league).

On the other hand, he developed his business in the field of entertainment. teaming up with Marvel (Disney) in an amusement park, and developed his own series for Apple+ released this year titled “They call me Magic” together with the production company XTR and the firm A New Slate Ventures. This initiative was in response to another documentary published this year by HBO, “Winning time”for which he showed his anger since they did not call the real protagonists to tell the golden story of the “Showtime”.

In addition, in 2012 he launched the chain Aspire TVcreated for celebrate, reflect and share urban lifestyle and black cultureaccording to their own statements. Likewise, in order to collaborate with the economic growth of communities considered by him poorly served, he decided develop franchises partnering with brands like Burger King, TGI Friday’s y Starbucks.

As an owner or investor, Magic Johnson covers various areas to continue growing as a successful businessmanwhether in gastronomy or sports companies, perhaps in cosmetics or cinemas and why not also gyms. Since 2020 he is an ambassador with participation in Uncle Bud’sa brand of cannabis products that offer solutions for pain relief.



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