Magic Johnson Is The Fourth Athlete To Reach Billionaire Status | Forbes

4 months ago
Matt Craig, SportsMoney Reporter, and Brittany Lewis, Breaking News Reporter, breakdown Magic Johnson's notable business deals. The previous Laker point guard is the 4th billionaire athlete ever. Magic Johnson has an extensive portfolio spanning multiple industries: entertainment, redevelopment/real estate, and a lucrative partnership with Starbucks Owner, Howard Schultz. Magic is part owner in a PepsiCo facility, making it the company's largest minority owned location. He was also part minority owner of The Lakers Basketball team, but sold his stake in 2010.