American business magazine Forbes has officially announced that sports legend, Magic Johnson is now a Billionaire.
With a net worth of $1.2 billion, Magic Johnson becomes the fourth athlete to have achieved these incredible feet.
The legendary athlete owns a substantial investment among some sports teams like the Washington Commanders, the Los Angeles Spark of the WNBA, the Los Angeles Dodgers of MLB, and the LAFC of MLF.
He also owns 60% shares in EquiTrust, a life insurance company as well as PepsiCo bottling plant in Washington DC.
Magic Johnson also has a franchise from Starbucks to open other branches in Black neighborhoods.
Another business of his which is focused on blacks like himself are a number of movie theaters he purposely built on predominantly black neighborhoods.