Magic Johnson Net Worth and Earnings

American basketball player, Earvin “Magic” Johnson Jr. has estimated net worth of $500 Million, listed him as one of the richest basketball player in history. Even he has been retired 20 years ago, Johnson is still one of the best basketball player in the world. His wealth is also quite stable and Johnson still managed to having half billion dollar as his net worth record.

Magic Johnson was drafted in 1979 by the Los Angeles Lakers and has a chance to plays along legendary player Kareem Abdul-Jabbar. With averaged 18.0 points, 7.7 rebounds, and 7.3 assists per game he then received $500,000 salary from the team. Such as large sum of money for a Rookie player at that time. Seems not enough, he then signed $2,000,000 endorsement contract with Converse in 1979. In 1981, Johnson salary from the Lakers increased to the amount of $1,000,000 and then reached $1,500,000 in the next year. His annual salary with Los Angeles Lakers is about $2,500,000 and coupled with $3,000,000 as endorsement deals with Campofrio in 1990.

Both in 1994 and 1995, Johnson renewed his contract with LA Lakers for $14,600,000. He stands still with the team till his retirement in 1996 due HIV AIDS. But Johnson successful fight against AIDS started his new life as activist and motivational speaker then become one of investors that purchased the Los Angeles Dodgers and the Los Angeles Sparks, as well as maintaining his abundant wealth till today.