Despite Billion Dollar Hope, Magic Johnson Closes Curtains on 7YO Brand – Could This Harm His Ultimate Goal?

Magic Johnson is one of the big names in the wealthiest NBA players list after Michael Jordan and LeBron James. Considering his recent ownership stints, there is a good chance that the Los Angeles Lakers legend can upgrade his $620 million net worth real soon. The 5-time champion even came out of his comfort zone of owning sports teams to invest in a famous insurance company. This ownership avatar must be credited, but Johnson’s latest departure from a 7-year-old start-up has raised a lot of questions. 

It’s evident that Johnson has a goal, keeping in mind all his ownership stakes and investments. However, this latest move from the 63-year-old stands astonishing. Will it get in the way of Magic’s billionaire aspirations?

Will this sudden departure delay Johnson’s goal? 

Magic Johnson made some serious moves earlier this year. Purchasing an ownership stake in the NFL’s Washington Commanders, surveillance of his teams in MLB and MLS, etc. were a few notable moves. One that did not make it to the headlines was his departure from Cameo. 

With a $620 million net worth, Johnson is making the moves to reach the billionaire mark. However, his departure from Cameo questions if he will reach that ultimate goal.

A money-making start-up has the scope to increase Johnson’s net worth very easily. That too, keeping in mind that the celebrity video shout-out app has raised $1 billion, it would have been a boost for Johnson to reach his goal sooner. 

Cameo is a new type of matchmaking app started in 2016. It connects celebrities with their fans. Regular folks can use the app to request for a personalized video message from a bona fide star! Within 4 years, the company had 30,000 celebrities join up. However, a particular 5x NBA champion has just left their ranks.

Read more: “Could Not Have Chosen a Better Man”: As Former NBA Champion Signs Prestigious Role, Magic Johnson Yelps in Joy for His Great Friend

Sadly, an insider from the company confirmed that Johnson is no longer a part of the board. According to The Information, the LA icon is “no longer available to book on the service”. Perhaps this could be Magic’s way of saying he has enough on his plate already.

Magic Johnson steps into the insurance world 

A few days ago, Johnson announced his new ownership stint with the Atlanta Life Insurance Company.

Hoping to build on the rich African-American legacy of the multi-million dollar company, Johnson took pride in restoring history once again on his Instagram. 

There is no doubt that Atlanta Life Insurance will yield loads of money for Johnson in the upcoming years. Anyhow, will it be enough to reach the billionaire dream? Well, that is a question that will unanswered. 

Nonetheless, Johnson is a winner and will take the necessary actions. Though the departure from Cameo might delay the process, it’s safe to say Johnson will reach there eventually.

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