?How Can We Establish Trust?: Business Mogul Magic Johnson Spills Secrets Behind $620 Million and Jeff Bezos? Triumph

Compared to today’s salaries, Magic Johnson earning $40 million throughout his NBA career sounds measly. Nowadays, most superstars earn upwards of $40 million per year. So, for the man responsible for making the sport popular, a large paycheck would seem a guarantee. However, despite his relatively low income with the NBA, Johnson is among the richest men in basketball circles today.

That comes as a result of shrewd business moves, and a rock-solid philosophy. Sharing his decision-making process, Earvin let out a few secrets.

The secret behind Magic Johnson

While he was always marketable, his knowledge of the business side of things remained a mystery. After years of weaving?Magic?on the court, he brought a similar dominance into the business world. In fact, Johnson was among the first to make a successful transition from basketball to business. Whether it was theatres, fast food, or malls, the Los Angeles Lakers legend went for the basic luxuries available to man.

As for major investments, his love for sports shone through on that front. From basketball, both men and women, to baseball, Magic took an interest in each sphere.

Sitting with entrepreneur.com, the five-time champion revealed his secret to success. To him, it’s the first impression.

“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.”?

Further, he revealed the importance of that trust as he remains a strong believer in partnerships.

“We [entrepreneurs] shouldn’t be afraid of partnerships. You don’t have to own 100%.”After all, it was just a few weeks ago that Magic, in partnership with the Philadelphia 76ers‘ Joshua Harris, took over ownership stakes of the Washington Commanders of the NFL.

Magic squeaks by Jeff Bezos

Reportedly, another name interested in the same team was Amazon CEO, Jeff Bezos.

A multi-billionaire, Bezos wanted to start a string of ownership stakes in sports, beginning with the NFL. However, Magic’s group was able to secure the deal first for a record-breaking $6.05 billion. Of course, Johnson’s affinity for sports would have certainly helped matters.

Read More: After Making Whopping $6 Billion Figure Purchase, Lakers Legend Magic Johnson Strongly Endorses Massive College Development

The deal makes him just the fourth Black owner in the history of the NFL, perhaps dawning a new era in America’s biggest sport. Who knows, maybe the 5-time MVP can help bridge the pay gap as well.

Regardless, continuing on a strong trajectory, while building trust seems to have worked wonders for him. Some might even call it magical.?

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