Magic Johnson’s reported net worth is $1.5 billion. According to Forbes, the former NBA player joined the World’s Billionaires List in 2023. The majority of this wealth comes from his 60 percent stake in EquiTrust, an Iowa-based life insurance company, which he purchased in 2015. He also owns has stakes in three sports teams — the LA Dodgers (MLB), the LA Sparks (WNBA), and the LAFC (MLS). Additionally, he partnered with Loews to bring movie theaters and Starbucks to bring cafés to Black neighborhoods.
You must be logged in to post a comment.