Magic Johnson Becomes Fourth Athlete Billionaire With Net Worth of $1.2 Billion, Mainly From Non-Sports Investments, Forbes Reports

Johnson's $1.2 Billion Fortune Stems from Savvy Business Moves Like Buying Stake in EquiTrust, LA Lakers and LA Dodgers; Now Ranks with Michael Jordan, LeBron James and Tiger Woods as Billionaire Athletes.

NBA legend Magic Johnson has joined athletes Michael Jordan, LeBron James, and Tiger Woods in becoming a billionaire, with Forbes estimating his net worth at $1.2 billion.
Johnson's fortune has largely been amassed through savvy business investments, rather than from his basketball career, during which he made approximately $40 million.
His significant assets include stakes in the Los Angeles Lakers, LA Dodgers, and LA Sparks, as well as a 60% stake in EquiTrust Life Insurance Company, which has grown from $16 billion to $26 billion in assets since his takeover.
Johnson previously owned a network of over 100 Starbucks locations in Black neighborhoods across the U.S., selling them back to the company in 2010 for a reported $75 million profit.
He missed out on becoming a billionaire earlier in life when he chose a Converse endorsement deal over an offer from Nike that included company stocks.