Editing Magic Johnson (section)

=== Media figure and business interests ===
[[File:MagicJ3GRBHous-25apr13.jpg|right|thumb|Johnson giving a speech at the [[George R. Brown Convention Center]] in 2013]]
In 1997, his production company Magic Johnson Entertainment signed a deal with Fox.<ref>{{Cite web |last=Fleming |first=Michael |date=February 12, 1997 |title=Fox hopes to create pix Magic |url=https://variety.com/1997/voices/columns/fox-hopes-to-create-pix-magic-1117435973/|access-date=November 22, 2020 |website=Variety|archive-date=October 4, 2021|archive-url=https://web.archive.org/web/20211004104239/https://variety.com/1997/voices/columns/fox-hopes-to-create-pix-magic-1117435973/|url-status=live}}</ref> In 1998, Johnson hosted a late night talk show on the [[Fox network]] called ''[[The Magic Hour (talk show)|The Magic Hour]]'', but the show was canceled after two months because of low [[Nielsen ratings|ratings]].<ref>{{cite news |url=https://query.nytimes.com/gst/fullpage.html?res=9803EFD8103BF93BA3575BC0A96E958260 |title='Magic Hour' Canceled |work=The New York Times |date=August 8, 1998|access-date=May 8, 2008|archive-date=March 8, 2021|archive-url=https://web.archive.org/web/20210308031949/https://www.nytimes.com/1998/08/08/arts/magic-hour-canceled.html|url-status=live}}</ref> Shortly after the cancellation of his talk show, Johnson started a record label. The label, initially called Magic 32 Records, was renamed Magic Johnson Music when Johnson signed a [[joint venture]] with [[MCA Records|MCA]] in 2000. Magic Johnson Music signed R&B artist [[Avant (singer)|Avant]] as its first act.<ref name=magicmusic>{{cite web |last1=Hochman |first1=Steve |title=Magic Johnson Gives His Label an Assist |url=https://www.latimes.com/archives/la-xpm-2000-feb-13-ca-63775-story.html |website=Los Angeles Times |access-date=May 17, 2022 |date=February 13, 2000 |archive-date=March 8, 2021 |archive-url=https://web.archive.org/web/20210308025105/https://www.latimes.com/archives/la-xpm-2000-feb-13-ca-63775-story.html |url-status=live}}</ref><ref name=firstact>{{Cite web |title=The Biography of Avant |url=https://www.poemhunter.com/lyrics/avant/biography/|access-date=June 4, 2013 |website=Poem Hunter |language=en-us|archive-date=June 5, 2013|archive-url=https://web.archive.org/web/20130605015641/http://www.poemhunter.com/lyrics/avant/biography/|url-status=live}}</ref> Johnson also [[Concert promoter|co-promoted]] [[Janet Jackson]]'s [[Velvet Rope Tour]] through his company Magicworks.<ref name=velvet>{{cite web |title=Magic Johnson Starts Own Record Label |url=https://www.chicagotribune.com/news/ct-xpm-1998-10-07-9810070152-story.html |website=Chicago Tribune |access-date=May 17, 2022 |date=October 7, 1998 |archive-date=May 17, 2022 |archive-url=https://web.archive.org/web/20220517195139/https://www.chicagotribune.com/news/ct-xpm-1998-10-07-9810070152-story.html |url-status=live}}</ref> He has also worked as a [[motivational speaker]],<ref name=mot /> and was an NBA commentator for [[Turner Network Television]] for seven years,<ref>{{cite news |last=Sandomir |first=Richard |title=Sports Briefing – Pro Basketball; Magic Johnson Signs With ESPN |work=The New York Times |date=October 14, 2008 |url=https://archive.nytimes.com/query.nytimes.com/gst/fullpage-9803E2DF163DF937A25753C1A96E9C8B63.html|access-date=May 17, 2022|archive-date=May 17, 2022|archive-url=https://web.archive.org/web/20220517195139/https://archive.nytimes.com/query.nytimes.com/gst/fullpage-9803E2DF163DF937A25753C1A96E9C8B63.html|url-status=live}}</ref> before becoming a studio analyst for ESPN's ''[[NBA Countdown]]'' in 2008.<ref>{{cite web |url=https://www.espn.com/nba/news/story?id=3642500 |title=Magic Johnson joins ESPN, ABC as NBA studio analyst |date=October 13, 2008 |publisher=ESPN|access-date=May 17, 2022|archive-url=https://web.archive.org/web/20081222025248/http://espnmediazone.com/press_releases/2008_10_oct/20081013_MagicJohnsonJoinsESPNasNBAStudioAnalyst.htm|archive-date=December 22, 2008}}</ref>

Johnson runs [[Magic Johnson Enterprises]], a [[Conglomerate (company)|conglomerate]] that has a net worth of $700&nbsp;million;<ref name="espnticket" /> its subsidiaries include Magic Johnson Productions, a promotional company; [[Magic Johnson Theaters]], a nationwide chain of movie theaters; and Magic Johnson Entertainment, a film studio.<ref>{{cite magazine |url=http://www.ew.com/article/1998/10/07/musical-magic |title=Musical Magic? |last=Walk |first=Gary Eng |date=October 7, 1998 |magazine=Entertainment Weekly|access-date=May 17, 2022|archive-url=https://web.archive.org/web/20081222221931/http://ew.com/ew/article/0,,83770,00.html|archive-date=December 22, 2008|url-status=dead}}</ref> In addition to these business ventures, Johnson has also created the ''Magic Card'', a [[Stored-value card|pre-paid]] [[MasterCard]] aimed at helping low-income people save money and participate in [[electronic commerce]].<ref name=onlymagic>[https://www.onlymagiccard.com/ "The Magic Card."] {{webarchive|url=https://web.archive.org/web/20130511053755/https://www.onlymagiccard.com/ |date=May 11, 2013 }} ''www.onlymagiccard.com.'' Retrieved May 30, 2017.</ref> In 2006, Johnson created a contract food service with [[Sodexo]] USA called Sodexo-Magic.<ref name=sodexo>{{Cite web |date=May 15, 2010 |title=About us – Sodexo Magic |website=sodexomagic.com |url=http://www.sodexomagic.com/company.html|access-date=January 3, 2023|archive-url=https://web.archive.org/web/20100515110404/http://www.sodexomagic.com/company.html |archive-date=May 15, 2010}}</ref><ref>{{cite news |author=Elan, Elissa |title=Magic Johnson on his growing foodservice business |url=http://nrn.com/article/magic-johnson-his-growing-foodservice-business |archive-url=https://web.archive.org/web/20120210094012/http://nrn.com/article/magic-johnson-his-growing-foodservice-business |url-status=dead |archive-date=February 10, 2012 |work=nrn.com |date=December 8, 2009 |access-date=May 9, 2017}}</ref> In 2004, Johnson and his partner Ken Lombard sold Magic Johnson Theaters to [[Loews Cineplex Entertainment]]. The first Magic Johnson Theater located in the [[Baldwin Hills Crenshaw Plaza]], closed in 2010 and re-opened in 2011 as [[Rave Cinemas|Rave Cinema]] 15.<ref name=rave>{{Cite news |last=Vincent |first=Roger |date=June 28, 2011 |title=Former Magic Johnson Theaters reopens as Rave Cinemas |url=https://www.latimes.com/archives/blogs/money-company/story/2011-06-28/former-magic-johnson-theaters-reopens-as-rave-cinemas|access-date=January 3, 2023 |work=Los Angeles Times |language=en-US|archive-date=January 3, 2023|archive-url=https://web.archive.org/web/20230103190951/https://www.latimes.com/archives/blogs/money-company/story/2011-06-28/former-magic-johnson-theaters-reopens-as-rave-cinemas|url-status=live}}</ref> In 2012, Johnson launched a cable TV network called [[Aspire (TV network)|Aspire]], featuring programming targeted at black audiences, similar to networks such as [[Black Entertainment Television]] (BET) and [[TV One (American TV channel)|TV One]].<ref>{{cite news |last1=Braxton |first1=Greg |last2=James |first2=Meg |title=Laker legend to launch a TV network |work=Los Angeles Times |date=February 21, 2012 |url=https://www.latimes.com/archives/la-xpm-2012-feb-21-la-fi-ct-magic-johnson-20120221-story.html|access-date=January 22, 2021|archive-date=April 16, 2022|archive-url=https://web.archive.org/web/20220416022904/https://www.latimes.com/archives/la-xpm-2012-feb-21-la-fi-ct-magic-johnson-20120221-story.html|url-status=live}}</ref>

Johnson began thinking of life after basketball while still playing for the Lakers. He wondered why so many athletes had failed at business, and sought advice. During his seventh season in the NBA, he had a meeting with [[Michael Ovitz]], CEO of Creative Artists Agency. Ovitz encouraged him to start reading business magazines and to use every connection available to him. Johnson learned everything he could about business, often meeting with corporate executives during road trips.<ref name=ovitz>{{Cite magazine |title=Magic Touch: Magic Johnson's Fast Break Into Business |magazine=Success |url=http://www.success.com/articles/1127-magic-johnson-s-fast-break-into-business|access-date=January 3, 2023|archive-url=https://web.archive.org/web/20121004004907/http://www.success.com/articles/1127-magic-johnson-s-fast-break-into-business |archive-date=October 4, 2012}}</ref> Johnson's first foray into business, a [[high-end]] sporting goods store named Magic 32,<ref name=ovitz /> failed after only one year, costing him $200,000.<ref name=starbucks /> The experience taught him to listen to his customers and find out what products they wanted. Johnson has become a leading voice on how to invest in urban communities, creating [[redevelopment]] opportunities in underserved areas, most notably through his movie theaters and his [[partnership]] with Starbucks. He went to [[Starbucks]] CEO [[Howard Schultz]] with the idea that he could successfully open the coffee shops in urban areas. After showing Schultz the tremendous buying power of minorities, Johnson was able to purchase 125 Starbucks stores, which reported higher than average per capita sales.<ref name=starbucks>{{Cite web |title=Magic Johnson Offers Business Wisdom |website=Precinct Reporter |url=http://www.precinctreporter.com/national-news/business-a-finance/64-business-a-finance/807-magic-johnson-offers-business-wisdom|access-date=January 3, 2023|archive-url=https://web.archive.org/web/20100804101731/http://www.precinctreporter.com/national-news/business-a-finance/64-business-a-finance/807-magic-johnson-offers-business-wisdom |archive-date=August 4, 2010}}</ref> The partnership, called Urban Coffee Opportunities, placed Starbucks in locations such as [[Detroit]], Washington, D.C., [[Harlem]], and the [[Crenshaw District]] of Los Angeles. Johnson sold his remaining interest in the stores back to the company in 2010, ending a successful twelve-year partnership.<ref name=sale>{{Cite web |title=Starbucks Acquires Remaining Interest in Magic Johnson Enterprises' Urban Coffee Opportunities (UCO) |work=Starbucks Stories |date=October 21, 2010 |url=https://stories.starbucks.com/stories/2010/starbucks-acquires-remaining-interest-in-magic-johnson-enterprises-urban-co/|access-date=January 3, 2023 |publisher=Starbucks |language=en-us|archive-date=December 23, 2022|archive-url=https://web.archive.org/web/20221223021254/https://stories.starbucks.com/stories/2010/starbucks-acquires-remaining-interest-in-magic-johnson-enterprises-urban-co/|url-status=live}}</ref><ref name=lakerblog>{{Cite news |last=Turner |first=Brad |date=October 19, 2010 |title=Magic Johnson sells his 105 Starbucks franchises |work=Los Angeles Times |url=http://lakersblog.latimes.com/lakersblog/2010/10/magic-johnson-sells-his-starbucks-franchises.html|access-date=January 3, 2023|archive-url=https://web.archive.org/web/20130212040210/http://lakersblog.latimes.com/lakersblog/2010/10/magic-johnson-sells-his-starbucks-franchises.html |archive-date=February 12, 2013}}</ref> He has also made investments in urban real estate through the Canyon-Johnson and Yucaipa-Johnson funds.<ref>{{cite news |last=Llovio |first=Louis |title=Magic Johnson wows the crowd and talks minority-owned businesses |work=Richmond Times-Dispatch |date=September 27, 2012 |url=https://www.richmond.com/business/magic-johnson-wows-the-crowd-and-talks-minority-owned-businesses/article_9135bb5a-7922-5bb9-8c9d-8cd21fe50a13.html|access-date=February 22, 2019|archive-date=March 8, 2021|archive-url=https://web.archive.org/web/20210308152255/https://www.richmond.com/_services/v1/client_captcha/challenge?request=X2xiX3JhdGVfZm9yZWlnbjpMMkoxYzJsdVpYTnpMMjFoWjJsakxXcHZhRzV6YjI0dGQyOTNjeTEwYUdVdFkzSnZkMlF0WVc1a0xYUmhiR3R6TFcxcGJtOXlhWFI1TFc5M2JtVmtMV0oxYzJsdVpYTnpaWE12WVhKMGFXTnNaVjg1TVRNMVltSTFZUzAzT1RJeUxUVmlZamt0T0dNNVpDMDRZMlF5TVdabE5UQmhNVE11YUhSdGJBOjE2MTUyMTY5NzY6MHhlMjgzNTJhYzE0OWU1M2Y0MWU4YjMwZThmMTkyMmI1MjNiNTVmOTM0|url-status=live}}</ref> Another major project is with insurance services company Aon Corp.<ref>{{cite news |url=https://www.bloomberg.com/news/2010-07-20/magic-johnson-criticizes-lebron-james-says-he-wouldn-t-have-joined-bird.html |archive-url=https://web.archive.org/web/20100723102747/http://www.bloomberg.com/news/2010-07-20/magic-johnson-criticizes-lebron-james-says-he-wouldn-t-have-joined-bird.html |url-status=dead |archive-date=July 23, 2010 |title=Magic Johnson Says He Wouldn't Have Joined Bird After LeBron James's Move |publisher=Bloomberg |date=July 20, 2010 |access-date=May 9, 2017 |first=Barry |last=Rothbard}}</ref> In 2005–2007, Johnson was a part of a syndicate that bought the [[Williamsburgh Savings Bank Tower]], then the tallest building in [[Brooklyn]], for $71 million and converted the 512-foot high landmark structure from an office building into luxury condominiums.<ref>{{cite news |last=Son |first=Hugh |title=Bank On Condos: NBA Great In $71M Tower Deal |work=New York Daily News |date=May 18, 2005 |url=http://www.nydailynews.com/archives/boroughs/bank-condos-nba-great-71m-tower-deal-article-1.604138|access-date=December 23, 2017|archive-date=March 27, 2022|archive-url=https://web.archive.org/web/20220327093841/https://www.nydailynews.com/archives/boroughs/bank-condos-nba-great-71m-tower-deal-article-1.604138|url-status=live}}</ref><ref>{{cite magazine |last=Greenberg |first=Andy |title=Manhattan-style condos come to Fort Greene |magazine=The Real Deal |date=October 29, 2007 |url=https://therealdeal.com/issues_articles/manhattan-style-condos-come-to-fort-greene/|access-date=December 23, 2017|archive-date=May 14, 2021|archive-url=https://web.archive.org/web/20210514132438/https://therealdeal.com/issues_articles/manhattan-style-condos-come-to-fort-greene/|url-status=live}}</ref> According to ''[[Forbes]]'', Johnson became a [[The World's Billionaires|billionaire]] in 2023,<ref>{{Cite web |url=https://www.cbssports.com/nba/news/magic-johnson-becomes-fourth-athlete-billionaire-lakers-icon-joins-michael-jordan-lebron-james-tiger-woods/ |title=Magic Johnson becomes fourth athlete billionaire: Lakers icon joins Michael Jordan, LeBron James, Tiger Woods |website=[[CBS Sports]] |last=Gonzalez |first=Isabel |date=October 30, 2023 |access-date=November 25, 2023 |language=en-US |archive-date=November 9, 2023 |archive-url=https://web.archive.org/web/20231109204246/https://www.cbssports.com/nba/news/magic-johnson-becomes-fourth-athlete-billionaire-lakers-icon-joins-michael-jordan-lebron-james-tiger-woods/ |url-status=live}}</ref> making him one of the [[List of celebrities by net worth|richest celebrities]].<ref>{{cite magazine|last=Martin|first=Devin Sean|title=The World's Celebrity Billionaires 2024|magazine=Forbes|date=April 3, 2024|url=https://www.forbes.com/sites/devinseanmartin/2024/04/02/the-worlds-celebrity-billionaires-2024-taylor-swift-kim-kardashian-oprah/|access-date=January 11, 2025}}</ref>

In 1990, Johnson and [[Earl Graves Sr.]] obtained a large interest in the Washington, D.C. [[PepsiCo]] bottling operation, making it the company's largest minority-owned facility in the U.S.<ref>{{cite web |last1=Gray |first1=Kathy |title=Magic Johnson buys into D.C.-area Pepsi bottling operation |url=https://www.upi.com/Archives/1990/07/25/Magic-Johnson-buys-into-DC-area-Pepsi-bottling-operation/8509648878400/ |publisher=United Press International |access-date=June 12, 2020 |date=July 25, 1990 |archive-date=March 8, 2021 |archive-url=https://web.archive.org/web/20210308141035/https://www.upi.com/Archives/1990/07/25/Magic-Johnson-buys-into-DC-area-Pepsi-bottling-operation/8509648878400/ |url-status=live}}</ref> Johnson became a minority owner of the Lakers in 1994, having reportedly paid more than $10&nbsp;million for part ownership. He also held the title of team vice president.<ref name="johnson">{{Cite magazine |title=Magic Johnson Becomes Part Owner of Lakers |magazine=Jet Magazine |url=https://books.google.com/books?id=8boDAAAAMBAJ&q=magic%2520johnson |date=July 18, 1994 |page=46|access-date=April 24, 2022 |language=en|archive-date=April 11, 2023|archive-url=https://web.archive.org/web/20230411085400/https://books.google.com/books?id=8boDAAAAMBAJ&q=magic%20johnson|url-status=live}}</ref> Johnson sold his ownership stake in the Lakers in October 2010 to [[Patrick Soon-Shiong]], a Los Angeles surgeon and professor at [[UCLA]],<ref>{{cite news |url=https://www.espn.com/los-angeles/nba/news/story?id=5700193 |title=Magic Johnson sells Lakers shares |date=October 18, 2010 |publisher=ESPN|access-date=May 17, 2022|archive-date=May 17, 2022|archive-url=https://web.archive.org/web/20220517195139/https://www.espn.com/los-angeles/nba/news/story?id=5700193|url-status=live}}</ref> but continued as an unpaid vice president of the team.<ref>{{cite news |last=Bresnahan |first=Mike |title=Magic Johnson would be interested in buying Clippers, source says |date=April 28, 2014 |newspaper=Los Angeles Times |url=https://latimes.com/sports/sportsnow/la-sp-sn-magic-johnson-clippers-20140428-story.html|access-date=December 11, 2019|archive-url=https://web.archive.org/web/20140508171349/http://www.latimes.com/sports/sportsnow/la-sp-sn-magic-johnson-clippers-20140428-story.html|archive-date=May 8, 2014|url-status=live}}</ref> In February 2017, Johnson returned to the Lakers as an advisor to Jeanie Buss.<ref>{{cite web |title=Magic Johnson to Advise Team Ownership |url=http://www.nba.com/lakers/releases/170202-magic-johnson-advise-ownership |publisher=NBA|access-date=February 2, 2017 |date=February 2, 2017 |quote=The Los Angeles Lakers today announced that Earvin "Magic" Johnson will return to the Lakers to assist Jeanie Buss in all areas of basketball and business as an advisor.|archive-date=May 7, 2021|archive-url=https://web.archive.org/web/20210507225842/https://www.nba.com/lakers/releases/170202-magic-johnson-advise-ownership|url-status=live}}</ref>

In the wake of the [[Donald Sterling]] controversy, limited media reports indicated that Johnson had expressed an interest in purchasing the [[Los Angeles Clippers]] franchise.<ref>{{cite news |url=http://www.nydailynews.com/sports/basketball/magic-trick-johnson-group-buy-dodgers-article-1.1771433 |title=Magic Johnson reportedly interested in buying Clippers, NBA plans Tuesday press conference on Donald Sterling investigation |work=New York Daily News |date=April 28, 2014 |access-date=May 1, 2014 |author=Botte, Peter |location=New York |archive-date=April 13, 2021 |archive-url=https://web.archive.org/web/20210413052938/https://www.nydailynews.com/sports/basketball/magic-trick-johnson-group-buy-dodgers-article-1.1771433 |url-status=live}}</ref>

In 2015, Johnson completed his planned acquisition for a "majority, controlling interest" in EquiTrust Life Insurance Company, which manages $14.5 billion in annuities, life insurance and other financial products.<ref>{{cite news |title=Magic Johnson buys life insurance company |url=https://www.usatoday.com/story/money/2015/06/23/magic-johnson-equitrust-life-insurance/29155157/ |website=USA Today|access-date=June 23, 2015 |date=June 23, 2015|archive-date=March 8, 2021|archive-url=https://web.archive.org/web/20210308195622/https://eu.usatoday.com/story/money/2015/06/23/magic-johnson-equitrust-life-insurance/29155157/|url-status=live}}</ref>

He is an investor for aXiomatic eSports, the ownership company of [[Team Liquid]].<ref>{{Cite web |url=https://tl.net/forum/general/514345-wizards-warriors-and-magic-a-strategic-partnership |title=Wizards, Warriors, and Magic: A Strategic Partnership |website=TLnet|access-date=January 3, 2023|archive-date=January 3, 2023|archive-url=https://web.archive.org/web/20230103191030/https://tl.net/forum/general/514345-wizards-warriors-and-magic-a-strategic-partnership|url-status=live}}</ref>