Published: Sunday, March 13, 2022
Basketball legend turned business mogul Earvin “Magic” Johnson is widely recognized as one of the most influential figures in the world.
Johnson is an all-time NBA great, former President of Basketball Operations for the LA Lakers, part owner of the LA Dodgers and LA Sparks, Chairman and CEO of Magic Johnson Enterprises, investor, entrepreneur, motivational speaker, philanthropist, and outspoken advocate for HIV/AIDS awareness and prevention.
Johnson’s career on the Los Angeles Lakers where he played as point guard for 13 seasons is the stuff of legends. His basketball achievements include three NBA MVP Awards, nine NBA Finals appearances, twelve All-Star games, and ten All-NBA First and Second Team nominations. Magic led the league in regular-season assists four times, is the NBA’s all-time leader in average assists per game, and a two-time inductee into the Basketball Hall of Fame. He was also a member of the 1992 U.S. Men’s Olympic “Dream Team” which took home the gold medal.
Doing what few others could, Johnson successfully parlayed his skills and tenacity on the court into the business world and created Magic Johnson Enterprises (MJE), a $700 million conglomerate company that holds the status of #1 brand in urban America. MJE provides high quality products and services that focus primarily on ethnically diverse and underserved urban communities through strategic alliances, investments, consulting, and endorsements.
The conglomerate is comprised of multiple business entities and partnerships that include Canyon Johnson, a $1 billion dollar real estate fund, Yucaipa Johnson, a $500 million dollar private equity fund, ASPIRE, a new African-American television network, SodexoMAGIC, Magic Airport Holdings, Inner City Broadcasting Corporation, Magic Johnson Bridgescape Academies, and Vibe Holdings, LLC – Johnson is the Chairman of the multi-cultural media company that houses the Vibe, Uptown, and Soul Train brands.
One of Johnson’s most notable business accomplishments was his unprecedented partnership with Starbucks, which served as the catalyst for redevelopment in urban communities and is literally the blueprint for Corporate America’s engagement and success with urban consumers. In 2010, the savvy businessman divested his Starbucks and Los Angeles Lakers shares in excess of $100 million dollars. However, he continues to assist Starbucks with their community development initiatives and has transitioned into the role of President of Basketball Operations for the Los Angeles Lakers.
Together with Guggenheim Partners, Johnson is also a co-owner of the Los Angeles Dodgers, Los Angeles Sparks, and has plans to own a Los Angeles Major League Soccer team.
Johnson also serves as Chairman and Founder of the Magic Johnson Foundation, where his unwavering commitment to transform Urban America continues through HIV/AIDS Awareness & Prevention Programs, Community Empowerment Centers, and the Taylor Michaels Scholarship Program. Celebrating over 20 years of success, the Magic Johnson Foundation has become one of the most recognizable philanthropic organizations around the world.
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