Magic Johnson Net Worth 2018 – How Rich is He Now?

Magic Johnson is best known for being a highly successful professional athlete. Even though he has been very successful in his professional life, a lot of people do not know just how much his net worth amounts to.

Magic Johnson Net Worth – ($600 Million)

How did Magic Johnson make his money and wealth?

Earvin “Magic” Johnson Jr. was born in August of 1959 in Lansing, Michigan. From a young age, Johnson was drawn to the sport of basketball. By the time he was graduating middle school, he had decided that he wanted to seriously consider a career in the sport. As a high school student, Johnson attended Everett High School, a predominantly white school. He struggled a lot with instances of racism during his time at Everett, but he was still able to perform at a level that separated himself from his colleagues. Upon his graduation in 1977, Magic Johnson was being vigorously pursued by some prestigious and competitive universities. Ultimately, he decided to attend Michigan State University, where he would help lead his team to a tournament championship during the 1978-1979 season. His impressive performance in high school and college led to Johnson being drafted by the Los Angeles Lakers with the 1st overall pick in the 1979 NBA Draft.

Magic Johnson, true to his moniker, brought a lot of magic to the Lakers. During his rookie year, he helped to pull the team to the 1980 NBA Finals, which they would go on to win. Johnson wasn’t just riding the bench during the championship game, either. He played as starting point guard during game 6, when the series was at 3-2. Johnson played spectacularly in that game, putting on a performance that is thought to have been one of the greatest in NBA history. It was pretty phenomenal. Within the span of two years, Magic Johnson had won both an NCAA and NBA championship. He had rocketed to the top as one of the most popular and well-regarded players in the league, and he had just finished off his first season.

Johnson was quick to show that he wasn’t just a flash in the pan, too. Over the course of the next couple of decades, he would win five more NBA championships, and countless other personal accolades and awards. However, as any other athlete entering old age, his play began to decline in later years. In 1991, he made history by publicly announcing that he was HIV positive, and that he would retire from the NBA because of it. He has dabbled in coaching and more recreational basketball since then, but Johnson hasn’t played seriously since. Today, he is a well-known philanthropist, as well as a stalwart advocate for safe sex and HIV/AIDS awareness.

Magic Johnson Personal Life & FAQs

Is Magic Johnson married?

Magic Johnson has been married to Earlitha “Cookie” Kelly since 1991. She has stayed with Johnson through his diagnosis, and the two have a wonderful and happy relationship.

Does Magic Johnson have kids?

Yes, Johnson has three children. His oldest son, Andre, was born to Melissa Mitchell in 1981. His other son, Earvin III, is a star on the reality television program Rich Kids of Beverly Hills. In 1995, Johnson and his wife adopted a daughter, Elisa.

Magic Johnson Salary & Annual Earnings in 2015

One might think that Magic Johnson doesn’t make as much money as he used to. I mean, he’s not in the NBA anymore. However, it was reported that he made close to $18 million in 2015. Where did all of this money come from? As a retiree, Johnson has become a highly successful entrepreneur, with stakes in companies like Aspire and EquiTrust. He isn’t playing basketball anymore, but he’s still making a lot of money with some of his other pursuits.

How much does Magic Johnson make per day?

Using that $18 million figure, we can calculate that Magic Johnson makes around $49,315.07 per day. This is a significant figure, and it’s even more impressive when you consider that his salary has actually grown since his time in the NBA. In fact, he was only making around $1 million a year when he was with the NBA.

Where does Magic Johnson live? Picture of Magic Johnson’s house

A lot of the time, wealthy athletes and celebrities will cycle through multiple properties, or regularly purchase new properties. Earvin has actually owned the same mansion in Beverly Hills since 1989, and he has just expanded the house as his family has grown over the years. The property has nine bedrooms, a gym, a tennis court, a swimming pool, and a gaming room. The mansion was worth around $6 million in the early 90s. Keep in mind, however, that the property has gone through multiple renovations and expansions since then. Its value has almost certainly increased today.

Magic Johnson’s Philanthropy

HIV ended Johnson’s career, so it’s really no surprise that he would become a huge activist as he left the league. When he announced his being HIV positive, it kind of rocked the world at the time, who assumed that the disease only afflicted homosexuals and drug addicts. He was living proof that HIV and AIDS could strike anyone, at any time. In 1991, shortly after his retirement, he founded the Magic Johnson Foundation, a charitable organization dedicated to fighting HIV, among other diseases. He has also done work with organizations such as the Boys & Girls Club of America, the Celebrity Fight Night Foundation, and Keep a Child Alive.