Magic Johnson BioSnap a weekly updated Biography.
Magic Johnson continues to dominate headlines both for his candid reflections on history-making business moves and for his relentless entrepreneurial hustle. Just this week, on the Earn Your Leisure podcast, Johnson rehashed what might be the biggest “what if” of his financial life: passing up Nike’s early stock offer in favor of a cash deal from Converse back when he was a 19-year-old rookie. He admitted, with a tinge of regret, that choosing upfront cash—understandable for someone who grew up without wealth—likely cost him $1.5 billion in today’s money. According to Basketball Forever, Johnson even joked about it, saying “when you’re Black and you’re broke, you take the most money”—but Phil Knight’s stock, had he taken it, would have been game-changing. The irony? That fumble became fuel for his empire, with Johnson later building an investment portfolio now valued at around $1.5 billion.
Johnson’s business savvy was on full display at Invest Fest 2025, where he revealed that his first Starbucks franchises—customized for Black neighborhoods with unique menus, aesthetics, and music—helped bankroll his entry into Major League Baseball ownership. As EssentiallySports reports, Johnson’s persistence convinced Starbucks CEO Howard Schultz to greenlight stores in underserved areas, and when he cashed out, he plowed the profits into the historic $2.2 billion purchase of the Los Angeles Dodgers—a deal now valued by Forbes at a staggering $7.5 billion. For Johnson, it’s always been about more than money; at the forum, he stressed representation, recalling how few Black owners there were in MLB when he took over the Dodgers. He’s stayed patient, too—admitting his WNBA Sparks haven’t turned a profit yet, but emphasizing the long game. His investment in diverse sports franchises, from MLS’s LAFC to a stake in the Washington Commanders, solidifies him as a mogul for whom three years is the minimum runway for any serious venture.
On the basketball side, Johnson hasn’t lost his edge in the “GOAT” debates. On the podcast, he reminisced about facing Michael Jordan in the 1991 NBA Finals, conceding that no one—not even LeBron—can match Jordan’s mid-air magic. “Nobody alive has been able to do that... LeBron is a bad boy, but he’s not Michael,” Johnson quipped, according to Basketball Forever. Over at Basketball Network, he elaborated, acknowledging Jordan would beat him one-on-one, but five-on-five? That’s Magic’s world.
Johnson was scheduled to headline the Face to Face Speaker Forum at Lawrence Joel Veterans Memorial Coliseum in Winston-Salem on September 16, according to National Today. However, Wake Forest University’s event page confirms the appearance was postponed due to “unforeseen circumstances,” with Chris Paul stepping in. No further details were provided, and this remains his only cancellation note in the past week.
On social media, aside from a Lakers Nation Instagram post highlighting his business regrets, Johnson’s personal channels have been quiet, focused perhaps on the grind he’s described—in bed by 8 p.m., up by 4 a.m., two hours in the gym, and straight to the office. According to EssentiallySports, that discipline, refined over decades, keeps him ahead of the game.
In summary, Magic Johnson’s recent days have been a blend of high-profile business storytelling, occasional nostalgia for his playing days, and a slight schedule hiccup—all reinforcing his status as one of the most influential figures in sports and business, and a man who’s still writing his own epic.
Get the best deals
https://amzn.to/3ODvOta