Earvin “Magic” Johnson is the Chairman and Chief Executive Officer of Magic Johnson Enterprises, an investment conglomerate valued at an estimated $1 billion dollars. Since retiring from the NBA over 20 years ago, the legendary basketball star has morphed into a business powerhouse who has dedicated his life to leaving a positive impact in underserved urban communities. Having left the basketball court for the boardroom, Johnson parlayed the skills and tenacity he acquired on the court into a winning formula for successful business ventures.
For the last two decades Johnson has consistently turned heads with his unprecedented partnerships. In his early years as an entrepreneur, he forged an alliance with Sony Pictures to develop Magic Johnson Theatres. In 1998, he teamed with Starbucks to become the only franchisee in the history of the company, acquiring and eventually selling 125 stores in a lucrative move which further solidified his position in the business world. Both ventures served as catalysts for redevelopment in urban communities, and are widely recognized as the corporate blueprint for engagement and success with urban consumers across America.
Still a commanding presence in the sports world, he made history in 2012 when he became co-owner of the Los Angeles Dodgers, a Major League Baseball franchise that was purchased for an astronomical $2 billion dollars. It was the highest purchase price for any professional sports team at the time. He also co-owns the Los Angeles Sparks of the WNBA and Major League Soccer’s Los Angeles Football Club.
Johnson continues to expand his influence through a number of other investments. He currently has controlling interests in EquiTrust, a $14 billion financial services company, ASPiRE, an African-American television network, and SodexoMAGIC, a food service and facilities management company.
The Lansing native is constantly evolving and remaining relevant in a dynamic digital age by broadening his scope into infrastructure and technology. Through a newly formed fund, Johnson is investing more than $1 billion dollars on infrastructure improvement in the United States. His technology endeavors include the acceptance of a board position with Square, a mobile payment company that supports small businesses and entrepreneurs.
