Earvin Magic Johnson Jr aka Magic Johnson is an American entrepreneur and a former basketball player. He is well-recognized for winning 5 NBA championships and three Most Valuable Person (MVP) awards. After retiring from the NBA, he invested in many companies and became one of the richest men in the state.
By observing his lavish lifestyle, many wonders, how many businesses Magic Johnson owns.
Former basketball star Magic Johnson is the owner of several businesses, including 30 Burger King restaurants and nearly 20 24-hour fitness centers. Magic Johnson’s influence extends beyond businesses. He owns several properties and holds various Starbucks licenses.
What Properties Does Magic Johnson Own?
Magic Johnson owned about 10 properties. But he sold the NBA team’s 4.5 percent ownership and 105 Starbucks locations for 100 million dollars. The rest of the properties are worth around 700 million dollars.
All the property’s name has been given below to know better at a glance:
- TGI Friday’s Restaurant
- 24-Hour Fitness Gym
- A Smooth King Franchise
- The NBA Assist Records
- Burger King Restaurants
- A food contract service
- A prepaid MasterCard called Magic Card
- NASCAR Team
What Teams Does Magic Johnson Own?
Magic Johnson currently owns only one team, which is the Los Angeles Dodgers of MLB. At first, he had two teams. He co-owned an NBA team named Los Angeles Dodgers.
But a while ago, Magic Johnson sold 4.5 percent of its share along with its 105 Starbucks locations for 100 million dollars.
What Food Companies Does Magic Johnson Own?
Magic Johnson is not limited to his teams. He also has food companies, including Burger King Restaurant, TGI Fridays, and many more. From here, he makes around 20 million dollars every year on average.
Along with the ventures, Magic Johnson has created a MasterCard named Magic Card so that low-income people can be involved in the e-commerce system. In 2006, he launched a contract food service company too.
How Many Starbucks Does Magic Johnson Own?
After Magic Johnson sold his share of the Los Angeles Lakers, he sold 105 Starbucks locations. As a result, he managed to bank around 100 million dollars. However, Magic Johnson said that it is a smart business idea. The Magic Johnson Enterprise is currently worth 700 million dollars without its Starbuck franchise.
Anyway, Magic Johnson does not have any Starbucks franchises left. He once had 105 Starbucks. But not anymore. Magic Johnson wants to do something bigger this time.
What Does Magic Johnson Do For a Living?
Magic Johnson makes most of his money through his business. He is also a philanthropist, showman, host, actor, and sports commentator. Besides, Magic Johnson has immense popularity on the internet. So, he can pretty much grow his fortune from here.
As a former basketball player, Magic Johnson makes around 39 million dollars through the National Basketball Association. He played 30 seasons with the Los Angeles Lakers. But things are currently changing. Magic Johnson is currently a successful business person.
Magic Johnson likes to invest to gain profit and grow his wealth like other entrepreneurs. So, he invests in Starbucks and Burger King. On the other hand, Magic Johnson owns a couple of gyms and theaters too. From here, he makes an astronomical amount of wealth.
How Much Money Does Magic Johnson Make a Year?
Magic Johnson likes to invest in companies to gain profit from them. He makes more than 40 million dollars a year. Besides, he is one of the primary investors in the MLB too. He has already created his business firm called Magic Johnson Enterprises.
From here, Magic Johnson makes around 2 million a year.
How Much Money Does Magic Johnson Make From His Businesses?
The former legendary basketball player, Magic Johnson has tons of businesses. Also, he created an investment firm called Magic Johnson Enterprises. He invests in several reputed companies to gain profit from them, including Starbucks, Burger King Restaurants, and many more.
Magic Johnson owned about 105 Starbucks franchises. Recently, he sold his 4.5% ownership of the Los Angeles Lakers along with his 105 Starbucks franchises for 100 million dollars. His agent said that it was a smart decision for his long-term business.
On the other hand, Magic Johnson has other businesses, including 24 hours Fitness Center, TGI Fridays, movie theaters, Burger King, and many more. From here, he makes more than 30 million dollars every year.