“Praying for His Wife”: Magic Johnson Devastated as $1.2 Billion Empire’s Inspiration Passes Away

“Without Joel’s influence, I wouldn’t be…” — Magic Johnson gave a large credit for whatever he is today to Joel Ferguson. Ferguson’s death must’ve deeply impacted the 5x NBA champ. Magic has time and again credited his alma mater, Michigan State University, for playing a major role in his life. And considering Ferguson served as the MSU trustee from 1987 to 1995 and from 1997 to 2020, it’s evident he was a figure of prime importance for the school.

Recollecting the memories, Johnson shared a message deep from his heart at Ferguson’s death at 85. “I’m devastated to hear about the passing of my mentor, Lansing businessman, and the incomparable Joel Ferguson. Many kids have heroes they never get to meet, but I was fortunate to have two: my father at home and Joel, who lived right in my community,” Johnson wrote in a post on Instagram.

Johnson further emphasized how the high-profile Democrat’s influence on his life was a true gift to him. “Forever grateful for the time he shared with me—broadening my horizons beyond Lansing and truly changing my life,” he wrote. The 5x NBA champ also highlighted that despite Joel’s super busy schedule, he always made time for the community and Magic Johnson. Whether it be witnessing his state championships or taking him to witness his favorite boxer—Muhammad Ali—in action.

“Without Joel’s influence, I wouldn’t be the businessman, entrepreneur, or owner of multiple professional sports teams that I am today… Cookie and I are praying for his wife, Anna, his five children.” further read the caption.

Notably, Magic Johnson, in his post, also credited Ferguson for igniting in him a passion for entrepreneurship alongside his basketball dreams. A passion that, with the help of the right and significant investments, would eventually earn Johnson a net worth of $1.2 billion. “Joel showed me through his work that a Black man could own and excel in business,” wrote Buck. And yes, Ferguson was more successful in multiple fields than you’d think.

What makes Joel Ferguson an inspiration for Magic Johnson?

Ferguson’s story is one of dedication and resilience, shaping the community of Lansing, Michigan, where he was born and spent his life making a difference. A proud US Marine Corps veteran, Joel graduated from Michigan State University in 1965 with a degree in elementary education. By 1967, he made history as the first African American elected to the Lansing City Council, serving three terms with a commitment to progress.

However, his impact reached even beyond Lansing, as he played a role in national politics, contributing to the campaigns of Robert F. Kennedy, George McGovern, and Jesse Jackson. From 2001 to 2003, he even served as vice chair of the National Democratic Committee’s Black Caucus. And later supported Kamala Harris on her journey to the vice presidency.

Impressed already? Well, there is even more to the legacy of the man that Joel Ferguson was. His drive to uplift his community led him to co-found Capitol National Bank in 1983. Thus bringing local banking opportunities to Lansing. In 1995, President Bill Clinton appointed him to the board of the Federal Home Loan Mortgage Corporation (Freddie Mac). A role he held until 2001.

Further, from his real estate projects to his media ventures, the list seems to have no end when it comes to his impact in different sectors. No wonder Magic Johnson felt inspired, and he made all sorts of diverse investments.