Magic Johnson The Businessman
Magic Johnson is one of the most successful people to come from the NBA ever. He used the money he earned from the NBA to start his own business empire, which has in turn given him an estimated net worth of over $600 million. Below is a timeline of most of his business ventures and investments.
1981 — Magic invests in two Colorado radio stations and opens Magic's 32 retail store
1987 — Magic Johnson Enterprises is formed, today worth over a billion dollars.
1990 — Magic partners with Earl G. Graves Sr. to purchase a Pepsi-Cola distributorship. Graves served as chairman and CEO and Johnson as Executive Vice President.
1991 — Magic Johnson Foundation was formed
1992 — Johnson Development Corporation begins
1995 — Johnson Development Corporation partners with Sony Retail Entertainment to create Magic Johnson Theatres. They opened their first state-of-the-art 12 screen multiplex in Los Angeles.
1996 — Johnson Development partners with Victor McFarlane to create Johnson Development CalPers - a real estate acquisition and management company.
1997 — Magic Johnson Entertainment is created and includes film, television, publishing and animation domains
1998 — The first UCO Starbucks store opens in Ladera Heights, CA
1998 — Johnson Development partners with Starbucks Coffee Company to create Urban Coffee Opportunities
1998 — Johnson development Corporation partners with Carlson Restaurant Worldwide and opens Magic Johnson TGI Friday's
1998 — Magic announces an acquisition of majority interest in Founders National Bank, forming JJP Partnership
1999 — Magic Johnson Productions executive produces basketball-drama film Passing Glory
2000 — Magic purchases a share of the Dayton Dragons with Mandalay Bay Sports. The Dayton Dragons are a minor league affiliate team of the Cincinnati Reds.
2001 — Johnson Development Corp. partnered with Canyon Capital Realty Advisors LLC and formed Canyon-Johnson Urban Fund.
2001 — Johnson Development Corporation partners with Fatburger
2001 — Johnson Development Corporation partners with Washington Mutual Home Loan Centers
2001 — Magic partners with 24 Hour Fitness
2003 — Magic Johnson becomes a spokesperson for Lincoln Motors
2004 — Magic Johnson Enterprises partners with Burger King Corporation and opens 29 restaurants
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2005 — Magic Johnson Enterprises partners with Cadbury Schweppes
2006 — Magic Johnson Enterprises partners with Sodexo and forms SodexoMagic
2008 — Magic Johnson Enterprises partners with Adecco and launches Magic Workforce Solutions
2008 — Magic Johnson Enterprises partners with Aetna to promote health and wellness in urban communities
2008 — Magic Johnson Enterprises partners with Best Buy.
2008 — The Yucaipa Johnson fund is formed
2009 — Magic Johnson Enterprises partners with Aon
2010 — Magic Johnson sells his Starbucks shares
2011 — Magic Johnson invests in Vibe Holdings, LLC becoming Chairman, focusing on Vibe, Uptown and Soul Train
2012 — Magic Johnson Enterprises announces the launch of a new tv network 'ASPiRE'
2012 — Magic Johnson joins Guggenheim Baseball Management to purchase the Los Angeles Dodgers Baseball Club
2013 — Magic Johnson Bridgescape Launches "Friends Of Magic" a program dedicated to high school dropout recovery and prevention.
2014 — Earvin becomes the controlling shareholder of Equitrust Life Insurance Co.
2014 — The Major League Soccer franchise the Los Angeles Football Club is announced and Earvin "Magic" Johnson is a member of the ownership group.
2014 — Earvin invests in and becomes a Board Member of Hero Ventures. The Marvel Experience, a premier touring experience that features a dynamic 4D motion ride.
2014 — A group led by Earvin "Magic" Johnson purchases the WNBA's Los Angeles Sparks.
2015 — Magic invests in Walker & Company Brands, the company that makes health & beauty simple for people of color by developing products and services tailored to their needs.
2015 — Earvin "Magic" Johnson invests in Jopwell, a diversity and hiring recruiting platform dedicated to helping blacks, Hispanics and Native Americans get jobs in the tech industry.
2016 — Earvin "Magic" Johnson invests in mitú, the Latino-fueled media brand and digital network that connects thousands of Latin content creators with viewers around the world.
2016 — Earvin "Magic" Johnson invests in ShotTracker, a company that makes wearable technology for basketball players that helps teams and individuals track player and ball movement.
2016 — Magic invests in Uncharted Play, a startup company that makes toys that also generate small amounts of electricity, a technology that can be used to power small electronics.
2017 — Johnson invests in Superheroic, a company that encourages, enables, and enhances pure physical play for every child in the world through a data-informed sneaker made specifically for children.
2017 — Earvin "Magic" Johnson is named President of Basketball Operations for the Los Angeles Lakers.
