Magic Johnson is one of the greatest players in the entire history of the NBA. Overall, he won five NBA titles with the Los Angeles Lakers, and he continues to be praised for the amazing legacy he left. However, Johnson is not done building that legacy. He has become quite the businessman in recent years. He has numerous investments and is involved with numerous sports teams. According to Forbes, Johnson is officially a billionaire, which is something that previously didn't seem possible.
Of course, fans are now wondering how Johnson was able to make this happen. Well, he has numerous endorsements, which certainly helps. Furthermore, he has minority stakes in teams such as LAFC, the Washington Commanders, the Los Angeles Sparks, and even the Dodgers. Perhaps his biggest claim to billionaire status, however, is his 60 percent ownership in EquiTrust. The life insurance company has been extremely successful, and in turn, Magic has raked in the profits.
Magic Johnson Gets A New Achievement
Interestingly enough, Johnson is actually worth a bit more than just $1 billion. As it stands, Forbes is listing his net worth at a total of $1.2 billion. Overall, that is a truly incredible mark. There are a few athletes who have reached this mark, including LeBron James. That said, it is cool to see someone with the cache of Magic get there, as well. We are sure he is going to be celebrating for quite some time.
Be sure to let us know what you think of this development, in the comments section below. Did you think Magic would ever achieve this? Additionally, stay tuned to HNHH for the latest news and updates from around the sports world. We will always be sure to bring you the biggest news from all of your favorite athletes.
[Via]