Earvin “Magic” Johnson was a superstar on the basketball court during his college years, and followed that up with an extremely successful professional basketball career – with the Los Angeles Lakers, but what he’s done since being named one of basketball’s all-time greatest and inducted into the Hall of Fame is even more impressive.
Magic has gone beyond managing his basketball career earnings well; going from the NBA to businessman, he has spun those dollars into an entirely new career with a number of successful businesses to his credit. If you’ve been to see a movie at a Magic Johnson Theater, you’re familiar with one of his successes. At one point, he was even a part owner of his former team the Lakers, and now is a stakeholder in the famed L.A. Dodgers. He was a part of the group that purchased the team, which is now building a new stadium.
In addition to his theaters, Johnson also sits at the helm of a promotional company and a movie studio. All ventures operate under the umbrella of Magic Johnson Enterprises, which is reportedly worth nearly a billion dollars.
Magic also has a food service operation that is part of a partnership with the huge food service firm Sodexo USA. The venture is named Sodexo-Magic, and is expected to add substantially to his already over-flowing bottom line. As astute a businessman as he was a ball player on the court, Magic has doubled down on his voyage from NBA to businessman with operations that will prove to be a major part of his real legacy. –mark anderson
