The five-time NBA champion forged a new playbook for athlete investors in the sports business space. Boardroom takes a closer look at the biggest companies & investments in Magic’s ledger.
Update: On Oct 29, 2023, Forbes announced Magic Johnson as a billionaire, estimating his net worth at $1.2 billion.
Magic Johnson has set a blueprint for the ultimate sports investor. Since his final retirement from the hardwood in 1996, the Lakers legend has assembled one of the most prolific sports portfolios in the game, reportedly worth north of $1 billion.
Up to this point, Johnson kept his investments close to the city where he picked up five NBA championships. However, his most recent investment will make him a bicoastal mogul.
After much anticipation, Johnson gained an NFL stamp of approval, as the much-anticipated sale of the Washington Commanders went through at long last. As part of the deal, Magic will join some other heavy hitters in sports investing, including managing partner Josh Harris who also serves that role with the Philadelphia 76ers and the New Jersey Devils. The ownership group is committed to creating a new, welcoming environment for the team, which was plagued by front-office scandals over the last several years.
For Johnson, though, the investment is personal. He told the Today Show‘s Craig Melvin it was the “biggest thing I’ve ever done in my life.” He is just the fourth Black co-owner in the NFL.
While his investments in the sports space garner the most attention, Johnson has assembled a diversified portfolio through his investment company Magic Johnson Enterprises that includes restaurant franchises and movie theaters. Johnson is also an avid real estate investor.
Let’s take a closer look.
@boardroom Magic Johnson becomes the 4th athlete to earn billionaire status, joining Michael Jordan, LeBron James & Tiger Woods. #magicjohnson #nba #lakers #sportsbusiness ♬ original sound – Boardroom
The Magic Johnson Companies, Businesses & Investments Overview
NOTE: This list is Boardroom’s curation of the most important Magic Johnson businesses and ventures and is not to be considered exhaustive.
Washington Commanders
- Type: NFL Team
- Role: Co-owner
- Purchased: 2023 (with a 21-member group led by Josh Harris)
- Purchase price: $6.05 billion
- Fun fact: At $6.05 billion, the sale of the Washington Commanders became the most expensive franchise purchase in American sporting history.
Los Angeles Dodgers
- Type: MLB Franchise
- Role: Co-owner
- Purchased: 2012
- Purchase price: $2 billion
- Championship Year: 2020
- Fun fact: At the time, the $2 billion purchase of the Dodgers was the most expensive franchise purchase in American sporting history.
LAFC
- Type: MLS Franchise
- Role: Co-owner
- Purchased: 2014
- Championship Year: 2022
- Fun fact: In 2022, LAFC became the first MLS franchise to eclipse a $1 billion valuation.
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Los Angeles Sparks
- Type: WNBA Team
- Role: Minority Owner
- Invested: 2014
- Championship Year: 2016
- Fun fact: Magic attended the Los Angeles Sparks’ first-ever home game in 1997.
Los Angeles Lakers
- Type: NBA Team
- Role: Minority Owner
- Invested: 1994
- Championship Years: 2000, 2001, 2002, 2009, & 2010
- Sold: 2010
- Fun Fact: Following his sale of his 4.5% stake in the team, Magic Johnson stayed on as an unpaid Vice President and re-joined the team as director of basketball operations from 2017-19.
Team Liquid
- Type: eSports Team
- Role: Co-owner
- Invested: 2016
- Fun Fact: Magic was one of a trifecta of NBA-affiliated individuals who invested in the Netherlands-based eSports franchise. He joined Washington Wizards co-owner Ted Leonisis and Golden State Warriors co-owner Peter Guber.
Magic Johnson Enterprises
- Type: Investment Company with focus on movie theaters, restaurants, real estate, & more.
- Role: Chairman and Chief Executive Officer
- Founded: 1981
- Fun fact: Magic Johnson Enterprises was the only franchisee in the history of Starbucks, owning 125 across the country. He has since sold them all.
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