Basketball legend Magic Johnson has shown he can still dominate his opponents on the court, not of action but this time in business. In this article, we go into detail about some of the business ventures that led to Magic Johnson being labeled a billionaire mogul and successful trailblazer in sports investments, and entrepreneurship - right off rampaging at MSG.
Magic Johnson Enterprises
The most popular evidence of Johnson's matchless business acumen is Magic Johnson Enterprises, established in 1981. With a lucrative investment in movie theaters, real estate, and restaurants, there is little this investing company does not own. Magic Johnson Enterprises, in fact, was the only franchisee Starbucks has ever had and he is still building an empire spanning 125 stores throughout North America as a testament to his initial success owning a business.
Owning A Franchise: How to Build a Sports Dynasty
Magic Johnson has been very successful in purchasing shares of professional sports franchises with an eye on making strategic investments. It serves as examples of different leagues where his ownership is being felt or exerted in the sports world:
Washington Commanders (NFL): In 2023, Johnson became a co-owner of the Washington Football Team along with a group of 21 members for $6.05 billion in what was the largest sale price in American sporting history The decision not only re-establishes himself in the NFL landscape but also says a great deal about his intent at molding what that future looks like for sports organizations.
Los Angeles Dodgers (MLB) - Johnson has been one of the co-owners of this franchise since 2012 and that same year he became a great influence in managing for them, winning their first World Series under his ownership in October 2020.
LAFC (MLS): Johnson's co-ownership of the MLS franchise, LAFC -- which cracked $1 billion in valuation for 2022 ownership stakes - further reflects his broad sports base and adds another foothold to soccer.
Los Angeles Sparks (WNBA): Johnson also influenced and popularized women's professional basketball by investing in it as a minority owner of Los Angeles Sparkes in 2014.
Los Angeles Lakers (NBA): Now, Johnson may have sold his stake in 2010; but the Los Angeles Lakers are still part of Magic Jonhson's sports ownership legacy as a team that he has been able to get multiple championship victories on.
The Entry to eSports
In 2016, Magic Johnson and several others with NBA ties invested in Team Liquid - an eSports team based out of the Netherlands, proving once again that he was a pioneer by branching into one of the most emerging facets of our current society.
A Strategic Approach Equals Success
But it is probably also the result of deep pockets and seeking advice from people who can give him a decent steer. His wide range of sporting investments shows his fore-sighter approach, which led him to be very successful in the business world starting off owning Magic Johnson Enterprises early on.
In the End
Overall, the fact that Magic Johnson went from a basketball great to an elite business icon says everything about him - someone who has turned his experiences into wisdom and applied them toward success. The variety of businesses the former basketball star has invested in, ranging from sports franchises to eSports and several others is what makes him a first mover figure in the Sports investments platform. Rising high above the basketball court, Magic Johnson has gone on to become an inspiration for any entrepreneur and a perfect testament that success does not stop even when it exceeds all bounds.
Exploring how deep Magic Johnson scratches the surface of business beyond sports-related matters defines nothing else but a true entrepreneur with investment interest.
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