Lakers News: Magic Johnson Credits LA Great with Guiding Him to Billionaire Status

The 12-time All-Star point guard has become an All-Star business magnate since hanging up his sneakers.

Mar 15, 2019; Nashville, TN, USA; Los Angeles Lakers president of basketball operations Magic Johnson talks with a fan during a game between the Kentucky Wildcats and the Alabama Crimson Tide in the SEC conference tournament at Bridgestone Arena. Mandatory Credit: Christopher Hanewinckel-USA TODAY Sports / Christopher Hanewinckel-USA TODAY Sports

12-time All-Star Los Angeles Lakers point guard Magic Johnson has become an All-Star business magnate since hanging up his sneakers for the final time in 1996. The 6-foot-9 Michigan State product, a three-time league MVP and five-time champion during his playing days, has made a splash in a variety of businesses. He opened a chain of Magic Johnson Theaters in underprivileged neighborhoods, owned a lucrative chunk of Starbucks, and has ownership slices of several sports franchises, including the Los Angeles Dodgers (2012), the Los Angeles Sparks (2014), Major League Soccer club LAFC and the Washington Commanders.

Last fall, he was became a billionaire, joining Chicago Bulls great Michael Jordan, PGA legend Tiger Woods, and current Lakers forward LeBron James as the only athletes to get to that elevated status.

Johnson credits a lot of his business acumen to Dr. Jerry Buss, who bought the Lakers during his 1979-80 rookie season and oversaw the franchise to a whopping 10 championships during his stint stewarding the club, which ended with his 2013 passing.

“Basically, you owe a lot of that to Dr. Buss,” Johnson said of the achievement, per Broderick Turner of The Los Angeles Times. “It was his mentorship. He guided me and he was that father figure that made sure I had all the tools necessary to be successful. When you think about days like this, you wish him and my father were still alive to see what I’ve accomplished.”

“I didn’t even think about being an owner of a team — it just blew my mind,” Johnson said. “What a blessing. But you don’t get there alone. I have my people. This is not something that, like, it’s by myself. And it starts with my dad and Dr. Buss. ... They paved the way for me and I can’t thank them enough.”

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