{"id":114677,"date":"2023-10-30T10:19:12","date_gmt":"2023-10-30T10:19:12","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/10\/30\/magic-johnson-declared-a-billionaire-by-forbes\/"},"modified":"2023-10-30T10:19:12","modified_gmt":"2023-10-30T10:19:12","slug":"magic-johnson-declared-a-billionaire-by-forbes","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/10\/30\/magic-johnson-declared-a-billionaire-by-forbes\/","title":{"rendered":"Magic Johnson declared a billionaire by Forbes"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"td-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"372\" class=\"entry-thumb\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/10\/Screenshot-2023-10-30-092300-696x372.png\"   alt=\"\" title=\"Screenshot 2023-10-30 092300\"\/><\/div>\n<p>Former basketball star Magic Johnson has been declared a billionaire by Forbes, making him only the fourth athlete to join the exclusive club.<\/p>\n<p>The business magazine estimates Johnson\u2019s wealth at about $1.2bn (\u00a3990m).<\/p>\n<p>The other athlete billionaires are NBA players Michael Jordan and Lebron James, and the golfer Tiger Woods.<\/p>\n<p><!-- \/22191989129,1002554\/MGL\/mgl_ado_atunwa_300x250 --><\/p>\n<p>Johnson has investments in numerous companies including ownership stakes in various sports teams.<\/p>\n<p>But Forbes says his stake in a life insurance company holds most of his wealth.<\/p>\n<p>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.<\/p>\n<p>Forbes states that Johnson made $40m from his NBA career.<\/p>\n<p>Johnson has ownership stakes in three Los Angeles-based sports teams, including MLB\u2019s Los Angeles Dodgers.<\/p>\n<p>Outside of sport he has investments in Starbucks, Burger King, 24 Hour Fitness and the life insurance company EquiTrust.<\/p>\n<p>Johnson says he could have become a billionaire sooner had he not turned down shares in Nike when he was entering the NBA in the 1970s. He took a deal with Converse, which offered him $100,000 a year, instead.<\/p>\n<p>\u201cMy family didn\u2019t come from money, that\u2019s one thing that hurt us sometimes. When you don\u2019t come from money, you don\u2019t know. I didn\u2019t even know what stocks [were] at that time,\u201d Johnson said on the\u00a0All The Smoke podcast\u00a0earlier this year.<\/p>\n<p>\u201cSo I passed on the stocks. Can you imagine? 45 years, $5 billion that stock would have been worth today.\u201d<\/p>\n<p>            <!--  [embed]https:\/\/www.youtube.com\/watch?v=videoseries[\/embed]<!--\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>--><\/p>\n<div class=\"youtube-embed\" data-video_id=\"Umm99xh-fLA\"><iframe loading=\"lazy\" title=\"Adom TV Live Stream\" width=\"696\" height=\"522\" src=\"https:\/\/www.youtube.com\/embed\/Umm99xh-fLA?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Former basketball star Magic Johnson has been declared a billionaire by Forbes, making him only the fourth athlete to join the exclusive club. The business magazine estimates Johnson\u2019s wealth at about $1.2bn (\u00a3990m). The other athlete billionaires are NBA players Michael Jordan and Lebron James, and the golfer Tiger Woods. Johnson has investments in numerous [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":114678,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-114677","post","type-post","status-publish","format-standard","has-post-thumbnail","category-sports"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Magic Johnson declared a billionaire by Forbes - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2023\/10\/30\/magic-johnson-declared-a-billionaire-by-forbes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Magic Johnson declared a billionaire by Forbes - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Former basketball star Magic Johnson has been declared a billionaire by Forbes, making him only the fourth athlete to join the exclusive club. The business magazine estimates Johnson\u2019s wealth at about $1.2bn (\u00a3990m). The other athlete billionaires are NBA players Michael Jordan and Lebron James, and the golfer Tiger Woods. Johnson has investments in numerous [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ghanamma.com\/2023\/10\/30\/magic-johnson-declared-a-billionaire-by-forbes\/\" \/>\n<meta property=\"og:site_name\" content=\"Ghanamma.com\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-30T10:19:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/10\/Screenshot-2023-10-30-092300-696x372-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"696\" \/>\n\t<meta property=\"og:image:height\" content=\"372\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Ghana News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2023\/10\/30\/magic-johnson-declared-a-billionaire-by-forbes\/\",\"url\":\"https:\/\/www.ghanamma.com\/2023\/10\/30\/magic-johnson-declared-a-billionaire-by-forbes\/\",\"name\":\"Magic Johnson declared a billionaire by Forbes - 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