Magic Johnson Net Worth 2024: Early Life, Career, and Achievements

Net Worth$630 Million
Age63 Years
Salary$50 Million +
Monthly Income$4 Million +
Date of BirthAugust 14, 1959
Height2.06 m. (6’ 9”)
Weight100 kg or 220 lbs
ProfessionFormer basketball player
NationalityAmerican

Introduction

Magic Johnson Net Worth 2024: Earvin “Magic” Johnson Jr. was born on August 14, 1959, in Lansing, Michigan. He’s a former American basketball player who had a big impact on the NBA during the 1980s, along with Larry Bird.

Magic Johnson was tall, about 6 feet 9 inches, but he played a position usually for smaller players because he was amazing at passing the ball. He mostly played as a point guard.

He got famous when he was picked first by the Los Angeles Lakers in the 1979 NBA draft. In his first year, his team won the championship, and he was the best player in the final games. He won more championships with the Lakers in the 1980s, and he played in the NBA finals nine times altogether.

In 1991, Magic shocked everyone by retiring from basketball because he found out he had HIV, a serious disease. But he made a surprise return in 1992 and won awards again. He even won a gold medal in the Olympics with the “Dream Team” in 1992.

Magic Johnson was really good at basketball. He won awards and was named one of the best players in NBA history. He was known for his friendship and competition with Larry Bird. They played against each other in college and the NBA, and it was a big deal.

After he stopped playing, Magic Johnson worked to help prevent HIV/AIDS and promote safe practices. He’s done a lot of important things off the basketball court.

Magic Johnson Net Worth 2024

Magic Johnson’s net worth is estimated to be $630 million.

Early Life

Magic Johnson Jr. was born in Lansing, Michigan. He was the sixth of ten children in his family. His dad worked at a car company, and his mom was in charge of a school. Magic loved basketball from a young age and looked up to players like Earl Monroe and Marques Haynes.

When he was 15, Magic played a high school game where he scored 36 points, got 18 rebounds, and gave 16 assists – that’s a lot! A writer from the local newspaper Fred Stabley Jr. saw his skills and gave him the nickname “Magic.” In his last year of high school, Magic helped his team a ton by scoring and getting rebounds. They won a championship with a really good record of 27 wins and only 1 loss.

Career

Magic Johnson’s career began in 1979 when he was picked as the first player in the NBA Draft by the Lakers.

In his very first year, he won a championship and a special award for being the best player in the NBA Finals. He also helped the Lakers win four more championships during the 1980s.

But in the 1980–81 season, Johnson hurt his left knee and couldn’t play for a while.

Magic did a lot in his career, like winning three MVP Awards, going to the NBA Finals nine times, and being in twelve All-Star Games. He was also picked for the All-NBA First and Second Teams ten times.

During the 1985–86 NBA season, he did really well, averaging almost 19 points, more than 12 assists, and almost 6 rebounds per game.

In 1992, Magic played on the US Olympic basketball team, known as “The Dream Team,” and they won a gold medal.

After he stopped playing in the NBA in 1992, Magic started a team that traveled around the world playing fun games the Magic Johnson All-Stars.

He also became a coach for the Lakers in the 1993-94 NBA season.

Magic Johnson is really famous in basketball. He’s been inducted into the Basketball Hall of Fame two times, once for his personal career in 2002, and again in 2010 as part of the “Dream Team.”

Magic Johnson Net Worth Growth

YearNet Worth
2023$630 Million
2022$580 Million
2021$530 Million
2020$480 Million
2019$430 Million
2018$390 Million

Magic Johnson’s NBA Salary

In 1984, Magic Johnson agreed to a 25-year contract with the Los Angeles Lakers. He would be paid $1 million each year for this period. The Lakers owner, Jerry Buss, announced this news. The contract was remarkable because it was the most valuable and longest contract in the world of sports at that time.

Magic Johnson, who was 21 years old, was already earning $500,000 per year for the next three seasons. This new contract made him one of the third players in the NBA to earn $1 million a year, joining Kareem Abdul-Jabbar, his teammate, and Moses Malone from the Houston team. The contract would continue until the year 2009.

SeasonTeamSalary
1979-80Los Angeles Lakers$460,000
1980-81Los Angeles Lakers$460,000
1981-82Los Angeles Lakers$460,000
1982-83Los Angeles Lakers$460,000
1983-84Los Angeles Lakers$460,000
1984-85Los Angeles Lakers$1,000,000
1985-86Los Angeles Lakers$2,500,000
1986-87Los Angeles Lakers$1,000,000
1987-88Los Angeles Lakers$2,500,000
1988-89Los Angeles Lakers$3,142,860
1989-90Los Angeles Lakers$1,000,000
1990-91Los Angeles Lakers$2,400,000
1991-92Los Angeles Lakers$2,500,000
1992-93Los Angeles Lakers$2,500,000
1993-94Los Angeles Lakers$2,500,000
1994-95Los Angeles Lakers$1,000,000
1995-96Los Angeles Lakers$1,000,000
1996-97Los Angeles Lakers$1,000,000
1997-98Los Angeles Lakers$1,000,000
1998-99Los Angeles Lakers$1,000,000
1999-00Los Angeles Lakers$1,000,000
2000-01Los Angeles Lakers$1,000,000
2001-02Los Angeles Lakers$1,000,000
2002-03Los Angeles Lakers$1,000,000
2003-04Los Angeles Lakers$1,000,000
2004-05Los Angeles Lakers$1,000,000
2005-06Los Angeles Lakers$1,000,000
2006-07Los Angeles Lakers$1,000,000
2007-08Los Angeles Lakers$1,000,000
2008-09Los Angeles Lakers$1,000,000
2009-10Los Angeles Lakers$1,000,000

Magic Johnson Brand Endorsements

Magic Johnson has supported many different companies throughout his career by saying good things about their products.

  • Nike
  • Starbucks
  • 24 Hour Fitness
  • T.G.I Fridays
  • AMC Theatres

Magic Johnson Car Collection

Magic Johnson doesn’t have a lot of cars, but the ones he has are really fancy and fast. Here are a few of the cars he has:

  • Mercedes G63 AMG
  • Rolls Royce Phantom Drophead Coupe
  • Bentley Continental V8
  • Cadillac Escalade
  • Lincoln Mark LT Pickup Truck
  • Lincoln Navigator
  • Mercedes-Benz SL450

Magic Johnson Achievements and Awards

Magic Johnson is considered one of the best basketball players ever, and he has won a lot of important awards. Here are some of the most important ones:

NBA

AchievementsDetails
NBA Championships10-time champion (5 as a player, 5 as owner/executive)
NBA MVP Awards3-time winner
NBA Finals MVP Awards3-time winner
All-NBA First Team Selections9-time selection
NBA All-Star Appearances12-time selection
All-Star Game MVP Awards2-time winner
J. Walter Kennedy Citizenship Award (1992)Citizenship award received in 1992
Named one of the 50 Greatest Players (1996)Recognized in 1996 as one of the 50 greatest players in NBA history
NBA 75th Anniversary Team Selection (2021)Selected for the NBA 75th Anniversary Team in 2021
Jersey Number Retirement (No. 32)Lakers retired his jersey number 32
Statue at Crypto.com ArenaStatue placed in front of Crypto.com Arena
Magic Johnson Trophy (Western Conf. Finals MVP)Trophy established in 2022, awarded to Western Conference Finals MVP

Sports Ownership

YearChampionshipRoleTeam
2016WNBA championPart ownerLos Angeles Sparks
2020World Series championPart ownerLos Angeles Dodgers
2022MLS Cup championPart ownerLos Angeles FC

Other Achievements and Awards

CategoryAchievementsYear
USA BasketballOlympic gold medal (U.S. national team)1992
NCAANCAA champion (Michigan State)1979
No. 33 retired by Michigan State
Statue at Michigan State
High schoolMichigan high school state champion (Lansing Everett HS)1977
Halls of Fame
Two-time Naismith Memorialindividual2002
member of “The Dream Team”2010
College Basketball Hall of Fame(class of 2006)
FIBA Hall of Fame As a member of “The Dream Team”Class of 2017
U.S. Olympic Hall of Fame As a member of “The Dream Team”Class of 2009
Hollywood Walk of Fame

Magic Johnson’s Social Media Accounts

InstagramClick here
FacebookClick here
TwitterClick here
You tubeClick here

Summary

Magic Johnson played basketball for the Lakers for 13 seasons, and in 1996, he was named one of the 50 best players in NBA history.

He surprised everyone by retiring suddenly in 1991 after sharing that he had HIV, a serious health condition. But he made a comeback and played in the 1992 All-Star Game, where he was so good that he won the All-Star MVP Award.

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