4 Years After Weighty Jerry Buss Confession, $620 Million Worth Magic Johnson Gets Emotional Recalling Lessons From His “Father Figure”

Magic Johnson is one and the same with basketball greatness. He has made a mark on both the court and the business world. His basketball skills earned him a fortune during his playing days, and later, his wealth soared when he transitioned to the business world. Johnson acknowledges the role of his mentor and Father figure Dr. Jerry Buss in his success.

The partnership between the Lakers’ legend and Jerry Buss extended far beyond the hardwood. While they shared five championship victories during Magic’s playing career, their bond remained unbreakable, even after Magic’s retirement.

A “Magic” partnership beyond the court

In an interview with Bill Plaschke of the Los Angeles Times, Magic Johnson recalled Buss saying “Earvin, let me teach you the business,’”. This advice resolved Magic’s understanding of the complexities of finance, gaining insight into the way the business world works, and connections that he could have never guessed.

Buss even promised Johnson a partnership in the Lakers if he saved his playing earnings, a promise that became a reality in 1994.

Johnson, with a net worth of around $620 million, started his ownership journey. It began with a 4.5 percent stake in the Lakers in 1994. This first step paved the way for him to take part in other leagues such as the WNBA, MLS, MLB, and NFL. Magic called Buss a “second father” and one of his best friends.

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Johnson’s ownership in the Lakers under Buss’ guidance marked a pivotal moment in his life, serving as the foundation for his subsequent achievements. Reflecting on this turning point, Magic Johnson said, “I didn’t even think about being an owner of a team. It just blew my mind. But I would have to say if it wasn’t for Dr. Jerry Buss allowing me to own the Lakers first, none of this would have happened.”

Magic Johnson’s path from the court to building an empire

Under the mentorship of Jerry Buss, Magic Johnson was involved in various projects. He leveraged assets including real estate, movie theaters and strategic partnerships with major brands such as Starbucks. His Magic Johnson Enterprises investment company alone is valued at over a billion dollars. Buss’ teachings in business terms, coupled with the ownership opportunity, set Magic Johnson on a trajectory of unbounded success.

The emotions attached to their bond were evident even in Buss’ final moments. Jeanie Buss, Jerry’s daughter, recounted a touching moment in Hulu’s docuseries, where she revealed her father had only cried twice in her presence—once at his mother’s passing and the day Johnson retired. Recalling the visit to the hospital bed before Buss’ death, Magic Johnson said to the LA Times reporter, “Without Dr. Jerry Buss, there is no Magic.” It shows the depth of their connection.

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Buss’ belief in the power of Magic Johnson laid the foundation for a legacy that extends far beyond the basketball court. What do you think about Magic Johnson calling Jerry Buss as a father figure? Let us know in the comments.