Magic Johnson has reached billionaire status. Recently it was announced that the LA Lakers legend has officially made his way into the billionaire club. This milestone, before Magic, was only achieved by three other athletes. Two of the three belong to the NBA alongside gold legend Tiger Woods.

With Magic breaking into the elite list, people have sent in their congratulatory messages to the NBA veteran. Recently, a 7x NBA champion was asked about his plans if he gets next in line. Although a billion can buy you pretty much everything, the ex-Laker chose the path of nobility.

What would you do with a billion?

For the majority of the people in the world, a billion dollars is an unfathomable amount of money. Magic Johnson himself couldn’t get to this mark at first. The 64-year-old has fumbled several times on his way to this unique achievement. Hoop fans know about the failed Nike deal of Magic, that would’ve made him a billionaire a long time ago. He was offered 100k shares of Nike along with the deal they had on the table, however, a young baller at the time, he chose to go with Converse. Magic’s original deal with Nike is estimated to have made him close to $5.2 billion. Despite losing out on the ungodly sum of money, at last, the 5x NBA champion is a billionaire.

Recently, ex-Laker Robert Horry discussed Magic’s billionaire status and what he would do with such a sum of money. While most people will just go ham, Horry has different plans to spend his hypothetical billions for now. On the Big Shot Bob podcast, the 7x NBA champion said he would not go the usual route and buy houses, cars, and yachts. He even clarified that he wouldn’t spend his billion on hookers but he did joke about buying a strip club so he could walk in for free. Horry said he would rather make smart investments as well as spend that money to secure the future for his kids.

Read More: Despite Entering Into Billionaire Club Before Him, Tiger Woods Gets Eclipsed by Magic Johnson Per Latest Reports

How Magic Johnson made his billion?

Recently, Forbes estimated Magic’s net worth to be $1.2 billion. So what does the Lakers legend own to have amassed such an amount? Well, Magic has as diverse a portfolio as one would like to see. The 64-year-old merged his love for sports with his entrepreneurial acumen. He is part owner of the iconic LA trio in the Dodgers, the LA Sparks, and LAFC. However, a major chunk of his net worth comes from his investment in EquiTrust.

The investment insurance company skyrocketed its market value from $16 billion in 2015 to $26 billion now. Magic has a majority 60% stake in the company.

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