Magic Johnson Contract, Salary Cap Details & Breakdowns

Born on August 14, 1959, in Lansing, Michigan, Magic Johnson‘s journey follows him from a high school basketball prodigy to a global icon.

Earvin “Magic” Johnson Jr. is an American businessman and former professional basketball player. Often regarded as the greatest point guard of all time, Johnson spent his entire career with the Los Angeles Lakers in the National Basketball Association (NBA).

Here we have Magic Johnson’s net worth, career earnings, career overview, achievements, personal details, and more.

About Magic Johnson

Career Highlights: 3x NBA MVP, 3x NBA Finals MVP, 12x All-Star, 9x All-NBA First Team, 5x NBA Champion with Los Angeles Lakers

Notable Achievements: All-time NBA leader in average assists per game; Olympic gold medalist with ‘The Dream Team’; Inducted twice into the Naismith Memorial Basketball Hall of Fame

Born: August 14, 1959, Lansing, Michigan, U.S.

Retirement and Advocacy: Retired in 1991 due to HIV diagnosis; advocate for HIV/AIDS prevention and safe sex

Post-Retirement Career: Successful entrepreneur, philanthropist, broadcaster, motivational speaker, and sports team owner

Height and Position: 6 ft 9 in (2.06 m), played as Point guard / Shooting guard

College and Draft Information: Played for Michigan State (1977-1979), 1st overall pick in the 1979 NBA draft by the Los Angeles Lakers

Basketball Career

Johnson’s basketball career began to take shape at Everett High School in Lansing, where he earned his nickname “Magic” after a game where he recorded a triple-double. He played for Michigan State University, leading the team to an NCAA Championship in 1979 and earning the Most Outstanding Player of the Final Four.

His college success paved the way for his selection as the first overall pick by the Los Angeles Lakers in the 1979 NBA Draft.

During his time with the Lakers, Johnson revolutionized the point guard position with his exceptional height (6-foot-9), playmaking ability, and versatility. He led the Lakers to five NBA championships (1980, 1982, 1985, 1987, 1988) and was named NBA Finals MVP three times.

Johnson was a 12-time All-Star and won three MVP awards (1987, 1989, 1990). His career was temporarily derailed in 1991 when he announced he had contracted HIV, leading to his early retirement. However, he briefly returned in the 1995-96 season before retiring for good.

Magic Johnson Biography

Johnson’s impact on the game was immortalized with his induction into the Naismith Memorial Basketball Hall of Fame in 2002.

Business Profile

Beyond basketball, Johnson is a highly successful businessman. He founded Magic Johnson Enterprises, which has been involved in numerous ventures, including movie theaters, Starbucks franchises, and 24 Hour Fitness centers, primarily in underserved urban areas.

His investments have also extended to sports teams, owning stakes in the Los Angeles Lakers, Los Angeles Dodgers, Los Angeles Sparks, and Los Angeles Football Club. In 2012, he became a part-owner of the Dodgers, and in 2023, he joined the ownership group of the Washington Commanders NFL team.

Magic Johnson Foundation

Earvin “Magic” Johnson Jr. founded the Magic Johnson Foundation in 1991, focusing on HIV/AIDS awareness and prevention, scholarship programs, and community empowerment centers.

The foundation has raised over $20 million for charity and awarded almost $4 million in scholarships. Johnson’s work in HIV/AIDS advocacy has been pivotal in changing public perceptions and increasing awareness about the disease.

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Magic Johnson’s Net Worth and Earnings

As of 2024, Magic Johnson’s net worth is $1.2 billion.

Johnson’s business acumen has been recognized with his net worth, making him one of the few athletes to achieve billionaire status. His investments in EquiTrust, a life insurance company, significantly contributed to his wealth, with the company being valued at $26 billion.

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Magic Johnson’s career earnings from basketball laid the foundation for his financial success, but it is his savvy investing and entrepreneurial ventures that have truly catapulted him into the ranks of billionaire athletes, alongside Michael Jordan, LeBron James, and Tiger Woods.

Career Earnings

During his illustrious NBA career, primarily with the Los Angeles Lakers, Johnson earned a total of approximately $39.3 million from his NBA contracts. This figure includes a notable 25-year, $25 million contract he signed, which at the time was groundbreaking in terms of its length and commitment.

In the 1994/95 season alone, Johnson’s salary was $14,660,000, which was a significant portion of his total NBA earnings. This salary was part of a comeback to the NBA.

Year(s) Event Earnings/Salary

1979 – Early 1990s Signed a groundbreaking 25-year, $25 million contract with the Lakers Part of $25 million

1994/95 Season Salary during comeback to the NBA $14,660,000

Total NBA Career Approximate total earnings from NBA contracts $39.3 million

Personal Details

Detail Information

Full Name Earvin “Magic” Johnson Jr.

Date of Birth August 14, 1959

Place of Birth Lansing, Michigan, USA

High School Everett High School (Lansing, Michigan)

College Michigan State University

NBA Draft 1979, 1st overall pick by the Los Angeles Lakers

NBA Teams Los Angeles Lakers

NBA Championships 5 (1980, 1982, 1985, 1987, 1988)

MVP Awards 3 (1987, 1989, 1990)

All-Star Appearances 12

Olympic Gold Medals 1 (1992 with the “Dream Team”)

Height

6 feet 9 inches (2.06 meters)

Playing Weight 215 pounds (98 kg)

Position Point Guard

Parents Earvin Johnson Sr. (Father), Christine Johnson (Mother)

Marital Status Married to Earleatha “Cookie” Kelley (since September 1991)

Children Earvin III (EJ), Andre (son from a previous relationship), Elisa (adopted)

Business Ventures Magic Johnson Enterprises, former ownership stakes in LA Lakers, LA Dodgers

Philanthropy Magic Johnson Foundation

Net Worth $1.2 billion

Wife

Johnson’s lovely wife is Cookie Johnson. Here’s a brief profile about her.

Magic Johnson with his wife Cookie

Full Name: Earlitha “Cookie” Kelly Johnson

Birth Date: January 20, 1959

Birth Place: Huntsville, Alabama, USA

Early Life: Cookie was born as Earleatha Kelly in Huntsville, Alabama, and is the middle child with an older sister and a younger brother. Her family moved to Michigan when she was 6 years old, and she considers Detroit her home, though she acknowledges Huntsville as where her roots are.

Education: Cookie met Magic Johnson at Michigan State University in the late 1970s. She was previously a college basketball player and graduated from Michigan State University in 1981.

Marriage to Magic Johnson: Cookie and Magic Johnson were married on September 14, 1991, at the First AME Church in Los Angeles. Their relationship began in college and, despite several breakups and reconciliations, culminated in a long-lasting marriage. They celebrated their 32nd anniversary in 2023.

Children: Cookie and Magic Johnson have two children together, Earvin “EJ” Johnson III, born in 1992, and Elisa Johnson, adopted in 1994. Cookie is also the stepmother to Magic’s oldest child, Andre Johnson, from a previous relationship.

Age

Born on August 14, 1959, he is 64 years old.

Height

He is 6 ft 9 inches tall.

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NBA Career Stats

Statistic Value

Points Per Game (PPG) 19.5

Rebounds Per Game (RPG)

7.2

Assists Per Game (APG) 11.2

Field Goal Percentage (FG%) 52.0%

3-Point Percentage (3P%) 30.3%

Free Throw Percentage (FT%) 84.8%

Steals Per Game (SPG) 1.9

Blocks Per Game (BPG) 0.4

Turnovers Per Game (TPG) 3.9

Games Played (GP) 906

Minutes Per Game (MPG) 36.7

FAQs

What is Magic Johnson’s net worth?

$1.2 billion.

Who is his wife?

Cookie Johnson.

How tall is he?

6 ft 9 inches.

What was his playing position?

Point Guard.

Where was Johnson born?

Lansing, Michigan.

What is his full name?

Earvin “Magic” Johnson Jr.

When was Magic Johnson born?

August 14, 1959.

hampionships did Magic Johnson win?

Five NBA championships (1980, 1982, 1985, 1987, 1988).

How many times was Magic Johnson named NBA MVP?

Three times (1987, 1989, 1990).

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Magic Johnson Contract, Salary Cap Details & Breakdowns

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