Former basketball icon Magic Johnson has become the fourth sports star to reach billionaire status, with a net worth of $1.2 billion, according to Forbes’ calculation. Johnson joins fellow NBA superstars Michael Jordan and LeBron James, as well as Tiger Woods, to join the exclusive 10-figure club.

Magic Johnson born August 14,
1959) is an American billionaire businessman and former professional basketball player. He is often regarded as the greatest point guard of all time. He played 13 sessions in National Basket Ball Association (NBA)

Forbes says Johnson made $40 million playing in the NBA, but most of his wealth doesn’t come from basketball. Johnson’s career as a businessman took flight with savvy investments in the Los Angeles Lakers and Starbucks. He is now the chairman and CEO of Magic Johnson Enterprises.

Before Johnson became one of the greatest NBA players of all time, he had to make some critical financial decisions. In 1979, when he was only 20 years old, he turned down an endorsement deal from Nike that included royalties on shoe sales and a considerable amount of company stock. Favoring guaranteed money, Johnson signed with Converse instead. Had he signed with Nike, his current valuation by Forbes of $1.2 billion would most likely be much higher, the magazine reports.

Today, Johnson has money in everything from NFTs to real estate development and PepsiCo.

Let’s celebrate him below

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