Magic Johnson Declared A Billionaire By Forbes Magazine. - News Summed Up

Magic Johnson Declared A Billionaire By Forbes Magazine.


Johnson has investments in numerous companies including ownership stakes in various sports teams. But Forbes says his stake in a life insurance company holds most of his wealth. The 64-year-old had one of the most iconic careers in NBA history before retiring in 1996, but it was outside of sport where he made most of his money. Forbes states that Johnson made $40m from his NBA career which ended abruptly when he was diagnosed with HIV. Johnson returned to play in the 1992 All-Star Game , winning the All-Star MVP AwardAfter protests against his return from his fellow players, he retired again for four years, but he returned yet again in 1996, at age 36, to play 32 games for the Lakers before retiring for the third and final time.


Source: Forbes October 30, 2023 12:58 UTC



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