Earvin "Magic" Johnson has been declared a billionaire by the folks at Forbes, becoming only the fourth sports star to bag that distinction.
Sunday, the publication reported that Johnson was now worth an estimated $1.2 billion after having built up a portfolio comprised largely of “joint ventures and partnerships.” Notably, Johnson also owns stakes in multiple sports teams, including the Los Angeles Dodgers and the Washington Commanders.
Johnson joins Michael Jordan, LeBron James, and Tiger Woods as the only athletes to have been declared billionaires by the publication. Matt Craig’s piece on Johnson’s distinction, available here, points out that the former Lakers star’s path to billionaire status differs from his contemporaries, namely due to his comparably lower earnings as a player.
In an interview with James Brown for CBS Mornings in September, Johnson discussed the importance of showing the Washington Commanders players that he intends to be "actively involved" with the organization.
"As I told them, my door will always be open," Johnson said at the time. "If that's football related, which I can't help them with. I can't help 'em with how to be a great football player. But if that's just a conversation with me about life, about also starting themselves off and building a business, about being an entrepreneur after their career. I want them to understand that I will be here for them, both on the field and off the field."
Johnson's own journey as a star athlete recently served as a key inspiration behind the HBO series Winning Time, based on Jeff Pearlman's Showtime book. The series, at once lauded by critics and questioned by former Lakers stars (including Johnson himself), was recently canceled after two seasons.
As for the billionaire distinction, Johnson's comes mere days after Taylor Swift was also reported to have joined the club.
