Magic Johnson joins exclusive club of billionaire athletes: Who are they?

irvin magic johnson You just passed a milestone that very few athletes can be proud of. He is a former NBA player and world basketball legend. 4th billionaire professional athlete in history. The 64-year-old Los Angeles Lakers legend and member of the Barcelona 1992 American Dream Team is worth over $1 billion thanks to his own investment portfolio and building a veritable media empire around him. It surpassed the dollar barrier.

According to the magazine forbesMagic has the following tradition: $1.2 billionwhich places him among the exclusive club consisting of Michael Jordan, LeBron James, and Tiger Woods, who are the only athletes to have achieved the status of millionaire (billionaire in the American sense) during their lifetime. It’s a person.

Yes, Mr. Johnson’s main source of wealth comes from the courtroom. This famous point guard had a professional career from 1979 to his 1991 and briefly re-emerged in 1996. $40 million profit, 110 when adjusted for today’s inflation figures. To put it into perspective, LeBron James made almost $500 million in his 20 years as an NBA professional.

Magic’s recent investments include: commander of washington, an NFL team that was acquired last May by a group led by billionaire Josh Harris for a total of $6.05 billion. Capital Team’s ownership joins a portfolio of sports teams that includes L.los angeles sparks WNBA, los angeles dodgers MLB and L.A.F.C. MLS.

However, most of Mr. Johnson’s wealth comes from his stocks. equitrust, a $26 billion Iowa insurance company. Former players control 60% of the company and make $2.6 billion annually. Other magic investments include: movie theater and cafe Black and underprivileged areas of various large cities in the United States, or owners of bottling plants. pepsico It is located on the outskirts of the country’s capital.

Jordan is a ‘goat’ on and off the court

There are only four athletes on Forbes magazine’s list of billionaires. Of course, Michael Jordan leads this particular club of wealthy athletes with an estimated net worth of over $3 billion. LeBron James and Tiger Woods both barely rank in the Bear, Dollar Up, Dollar Down estimated value of $1 billion, so Magic slides into second place with $1.2 billion.
The fact that there are only four athletes on the list of the world’s billionaires means that no matter how high their salaries are, it’s the team owners and other businessmen who are actually getting rich through the sports business. It explains very well that there is. NBA, they look crazy. Forbes magazine counted a total of 2,640 properties worth more than $1 billion across the globe in 2023.