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Magic Johnson turned down the deal of a lifetime back in 1979

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With a reported net worth of $500 million, one could argue Magic Johnson doesn't have any regrets when it comes business deals.

However, during a recent appearance on The Ellen DeGeneres Show, Magic admitted to a huge mistake he made back in '79 when he came out of college. Something that still haunts him to this day.

When I first came out of college, all the shoe companies came after me," he said. "And there was this guy, Phil Knight, who just started had Nike.

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All the other companies offered me money, but they (Nike) couldn't offer me money because they just started," Magic said. "So he said something [about] stocks—'I'm gonna give you a lot of stocks.' I didn't know nothing about stocks. I'm from the inner city, we don't know about stocks, you know, at the time.

Boy, did I make a mistake," Johnson admits. "I'm still kicking myself. Every time I'm in a Nike store, I get mad. I could've been making money off of everybody buying Nikes right now.

It's safe to say the decision in 1979 cost him a few billion dollars — if we assume he would keep the stocks to persent day. Indeed, Magic is still a very successful businessman, but we're talking about some serios cash here! Oh, if you could only be a time traveler.

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