Editing Magic Johnson Enterprises (section)

== Investments ==
In 1995, Johnson took an equity stake along with what was then the [[Loews Cineplex Entertainment|Loews]] chain in the 12-screen multiplex movie theater in [[Baldwin Hills, Los Angeles|Baldwin Hills]] (now owned by [[Cinemark]]).{{Needs citation|date=May 2024}}

The company teamed up with Starbucks in 1998, acquiring around 125 stores<ref>{{Cite web |last=Molloy |first=Jessie |date=2023-05-11 |title=Starbucks' Partnership With Magic Johnson Paved The Way For Community Stores |url=https://www.tastingtable.com/1283722/starbucks-magic-johnson-paved-way-community-stores/ |access-date=2024-05-24 |website=Tasting Table |language=en-US}}</ref> and in October 2010 sold 105 of the stores in a $100 million deal.<ref name="latimesOctober192010">{{Cite news |last=Turner |first=Brad |date=October 19, 2010 |title=Magic Johnson sells his 105 Starbucks franchises |url=http://lakersblog.latimes.com/lakersblog/2010/10/magic-johnson-sells-his-starbucks-franchises.html |url-status=dead |archive-url=https://web.archive.org/web/20101020184051/https://lakersblog.latimes.com/lakersblog/2010/10/magic-johnson-sells-his-starbucks-franchises.html |archive-date=20 October 2010 |access-date=24 September 2019 |work=[[Los Angeles Times]] |department=Lakers Blog}}</ref><ref>{{Cite web |date=2022-07-12 |title=Listen and Learn: Magic Johnson Shares How He Closed a 9-Figure Deal With Starbucks |url=https://finance.yahoo.com/news/listen-learn-magic-johnson-shares-171034304.html |access-date=2024-05-24 |website=Yahoo Finance |language=en-US}}</ref>

In March 2008, Johnson signed a multi-year marketing deal to help electronics retailer [[Best Buy]] Co. bolster sales in urban neighborhoods.<ref name="latimesJune302008">{{Citation|last=Bresnahan |first=Mike |last2=Johnson |first2=Greg |title=For Magic Johnson, the NBA was only halftime |newspaper=[[Los Angeles Times]] |date=June 30, 2008 |url=http://www.latimes.com/business/la-fi-magic30-2008jun30,0,4325408,full.story |url-status=dead |archiveurl=https://web.archive.org/web/20080804194941/http://www.latimes.com/business/la-fi-magic30-2008jun30%2C0%2C4325408%2Cfull.story |archivedate=August 4, 2008 }}</ref> 

In October 2010, he sold his 4% interest in the Los Angeles Lakers for an estimated $27 million to [[Patrick Soon-Shiong]].<ref name="latimesOctober192010" /><ref>{{Cite news |last=Bresnahan |first=Mike |date=18 October 2010 |title=Magic Johnson Sells His Ownership Stake in the Lakers |url=https://www.latimes.com/archives/la-xpm-2010-oct-18-la-sp-1019-lakers-magic-johnson-20101019-story.html |work=[[Los Angeles Times]] |access-date=24 September 2019}}</ref>

In 2006, the company made headlines for concluding a deal with [[Sodexo]], one of the largest [[food services]] and [[facilities management]] companies in the world. The initiative includes a marketing agreement and the formation of SodexoMAGIC, LLC, a new joint venture that is 51 percent owned by Johnson.<ref>{{cite news| url=http://www.foxnews.com/story/0,2933,199179,00.html |url-status=dead |archive-url=https://web.archive.org/web/20130528015150/http://www.foxnews.com/story/0,2933,199179,00.html |archive-date=2013-05-28 | work=Fox News | title=Magic Johnson Forms Deal With Food Service Vendor Sodexho | date=December 7, 2011 |accessdate=2020-11-12}}</ref>

In June 2015, the company announced it had acquired a controlling interest in EquiTrust Life Insurance Co.<ref>{{Cite web |last=Whitehouse |first=Kaja |title=Magic Johnson adds life insurance co. to empire |url=https://www.usatoday.com/story/money/2015/06/23/magic-johnson-equitrust-life-insurance/29155157/ |access-date=2024-05-30 |website=USA TODAY |language=en-US}}</ref>