Boasting $220,000,000 More Than Shaquille O’Neal, Here’s How Magic Johnson Acquired His $620 Million Worth Empire

Most NBA fans are aware of Magic Johnson’s flawless on-court ball vision. He is widely regarded as the greatest passer of all time. Moreover, Johnson did not only showcase his brilliance on the basketball court but also in the business world. A recent social media post touched up on the subject of how the Los Angeles Lakers icon established his massive $620 million worth business empire. While other NBA legends such as Shaquille O’Neal often take the limelight for their business acumen, Magic isn’t far behind. In fact, the 5x NBA champion boasts a larger net worth than the Big Aristotle.

We know an awful lot about Shaquille O’Neal the businessman. But not many know about the greatness of Magic Johnson in that field. Let’s have a look at how Magic earned himself a fortune of hundreds of millions of dollars.

Magic Johnson’s magical business moves

Magic Johnson has acquired himself a fortune of around $620 million. That’s almost $220 million more than his fellow Lakers legend the Big Diesel. Shaq has invested heavily in restaurants, fitness centers, he even invested in the tech giant Google in the 1990s. The 4x NBA champion made sure to diversify his investment portfolio and made some smart choices about what businesses to own. On the other hand, Magic has adopted a slightly different approach.

The NBA Hall of Famer left the NBA with $40 million and a 4.5% stake in the Los Angeles Lakers. He bought over a hundred outlets of the famous Starbucks and 31 outlets of Burger King. The 12x All-Star sold his Lakers stake for a sum of $50 million. Where he differs from O’Neal, though, is his investments in sporting franchises.

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He got involved in different American leagues by purchasing stakes in the Los Angeles Dodgers of MLB, the LA Sparks in the WNBA, and Los Angeles FC in MLS. All these teams have earned tremendous success over the past few years and they even helped Magic add to his tally of championship rings. Additionally, his company Magic Johnson Enterprises has holdings of almost a billion dollars.

He has successfully lived by the famous motto, “Don’t work for money, make it work for you”. Johnson also revealed in a recent conversation how to go about conducting yourself in the business world.

Magic Johnson’s business secrets

Having a net worth of over $600 million, Magic Johnson is surely an inspirational figure. Magic said, “When you come into a meeting and pitch your idea, I expect you to have the answers. If you don’t have the answers, how can we establish trust…I eat pressure for breakfast – if I ask you five questions and you can’t meet the moment, then you’re not somebody I want to do business with”

Magic made it clear that he only gets involved with people who are at the top of their game and suggests learning how to deal with pressure. It’ll be intriguing to see what Magic decides to do in the future.

READ MORE: As Magic Johnson-Stephen Curry Controversy Heats Up, ESPN’s Favorite Employee Passionately Defends Michael Jordan Despite Text Message Saga

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