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Magic Johnson

Net Worth: $600M   |   Los Angeles, California
Magic Johnson Enterprises Founder
SAN DIEGO (Nov. 11, 2011) Magic Johnson greets service members attending the Quicken Loans Carrier Classic basketball game on the flight deck of the aircraft carrier USS Carl Vinson (CVN 70). Carl Vinson is hosting Michigan State University and the University of North Carolina for an NCAA basketball game. (U.S. Navy photo by Mass Communication Specialist Seaman Apprentice George Bell/Released)
Photo: U.S. Navy photo by Mass Communication Specialist Seaman Apprentice George Bell/Wikimedia Commons

Magic Johnson founded Magic Johnson Enterprises in 1987 while he was still playing professional basketball. He has built the firm into a billion-dollar conglomerate. Through Canyon Capital, he has financed the development of over 30 projects across the country.

In 1998, Magic approached Starbucks CEO Howard Schultz with a plan to bring the chain into underserved neighborhoods. The idea led to more than 100 locations in major cities around the country. “I get asked if I’m trying to help minorities or make money,” he told Sports Illustrated in 2014. “My answer is, I’m trying to do both.” — Scott Klocksin

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