In the buzzing atmosphere of the recent LA Lakers versus LA Clippers showdown, NBA icon Magic Johnson wasn't just there as a spectator; he was an event unto himself. The five-time NBA champion, known for his court prowess, added a dash of high fashion and a touch of K-Pop to the evening.
Magic, who has seamlessly transitioned from basketball to business magnate, sported a striking Versace t-shirt valued at $605, making a statement with his sartorial choice. His outfit drew significant attention, especially when he was spotted sharing a moment with the trending K-Pop group 'Le Sserafim'
The ensemble - Sakura, Chaewon, Yunjin, Kazuha, and Eunchae - is currently on their 'Flame Rises' global tour and took a break to enjoy some court-side action. The Lakers' performance was as newsworthy as Magic's ensemble.
They edged out the Clippers in a thrilling overtime finish, 130-125. LeBron James, with an impressive 35 points, 10 rebounds, and seven assists, led the charge. Anthony Davis and D'Angelo Russell also made notable contributions, ensuring the Lakers moved up to a 3-2 record for the 2023-24 NBA season.
Magic's Billionaire Climb
Magic's billion-dollar journey is as intriguing as his court stories. Forbes highlighted him as the fourth athlete to join the billionaire's club, boasting a net worth of $1.2 billion at 64. A significant part of his fortune has been channeled from his primary ownership of EquiTrust insurance company, which under his guidance, witnessed a jump in assets from $16 billion to $26 billion in the last ten years.
Beyond insurance, Magic's investment tentacles extend to owning stakes in sports teams like the NFL's Washington Commanders, MLB's LA Dodgers, and the WNBA's LA Sparks. Recently, he's delved into the promising worlds of NFTs and CBD products while also serving on the boards of renowned companies like Fanatics and Cameo.
From starting movie theater chains to investing in Starbucks (both of which he later sold), Magic's entrepreneurial journey is as mesmerizing as his basketball one. Conclusively, while Magic's NBA earnings stand at $40 million, it's just a tip of his colossal financial iceberg. He shares the billionaire athlete tag with icons like Tiger Woods, Michael Jordan, and LeBron James.