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What franchises does Magic Johnson own?
Over the years, Magic Johnson Enterprises has continually invested ownership in many lucrative businesses such as the Los Angeles Lakers, movie theaters and restaurants in the United States, including T.G.I. Friday's, Sodexo, and Burger King locations.
Does Magic Johnson still own Starbucks?
All-time NBA great Magic Johnson sold his 105 Starbucks franchises just one day after selling his share of the Los Angeles Lakers.
How many Starbucks Magic Johnson owns?
“Magic Johnson invested in 125 Starbucks locations”: How Lakers legend's $1 billion company grew with a bevy of business savvy investments. Magic Johnson invested in 125 Starbucks franchises to help build out his business portfolio and acquire a $1 billion company.
What percentage of the Lakers does Magic Johnson own?
Magic Johnson bought a 4.5% stake in the Los Angeles Lakers and would go on to sell that in 2010 with the amount not being disclosed. Magic Johnson burst onto the scene as quite the anomaly.
How much is Magic Johnson worth right now?
Introduction. As of October 2022, Magic Johnson's net worth is approximately $620 Million, and he's one of the richest athletes in the world. What is this? Earvin “Magic” Johnson Jr. is an American retired professional basketball player and former president of the Los Angeles Lakers of the NBA.
How is Magic Johnson so rich?
Magic Johnson, 62 – US$620 million He returned as a coach two years later and attempted a comeback before his retirement in 1996. He founded Magic Johnson Enterprises, which is now valued at over US$1 billion, per Celebrity Net Worth. It owns a movie studio, theatres and a marketing company.
How many brands does Shaq own?
Shaquille O'Neal, the king of franchises: 155 burger joints, 40 gyms and a $400 million fortune.
How many businesses does Shaq own?
Shaquille O'Neal Owns 155 Five Guys Restaurants, 40 Fitness Centers, And 1 Movie Theater Among Other Businesses. Shaquille O'Neal is one the most dominant players in NBA history, but also one of the smartest.
What all does Lebron James own?
James is estimated to own around 1% of the group, which owns the Boston Red Sox, Fenway Park and Liverpool, plus half of Roush Fenway Racing and 80% of the New England Sports Network. In late 2021, FSG agreed to pay about $900 million to add the NHL's Pittsburgh Penguins to its portfolio.
Who is the richest owner of the NBA?
Forbes: LA Clippers' Steve Ballmer richest owner in pro sports.
How much of LA Dodgers does Magic Johnson own?
Johnson owns a 2.3% stake in the team and had invested $50 million during the purchase. In 1988, the Lakers and the Dodgers won their respective league titles, making LA the first city to win a World Series and NBA title in the same year. They did it again this year. Magic Johnson has been part of both.
Does Magic Johnson own Pepsi?
When BLACK ENTERPRISE's Earl G. Graves Sr. and Magic Johnson completed the $60 million transaction to own a Pepsi franchise in July 1990, their achievement became the deal-making choice of a new generation; growth through partnership and acquisition.
Who is Starbucks owned by?
Howard SchultzYears active1986–presentKnown forLeadership of Starbucks and co-ownership of Seattle SuperSonicsTitleChief Executive Officer (Starbucks)Term1986–2000 2008-2017 2022–2023 (as interim CEO)11 more rows
Who is the owner of Starbucks coffee?
By 1986, the company was operating six stores in Seattle and had begun to sell espresso coffee. In 1987, the original owners sold the Starbucks chain to their former director of marketing Howard Schultz, who rebranded his Il Giornale coffee outlets as Starbucks and quickly began to expand the company.
Is Magic Johnson still part owner of the Dodgers?
Johnson, 62, is currently a part-owner of MLB's Los Angeles Dodgers and the WNBA's Los Angeles Sparks.
What percentage of the LA Dodgers does Magic Johnson own?
a 2.3%Johnson owns a 2.3% stake in the team and had invested $50 million during the purchase.
Who owns Magic Johnson Enterprises?
United States of America. Magic Johnson Enterprises is an American investment company owned by retired NBA Hall of Fame legend Magic Johnson. In 1995, after some criticism that he only invested with other people's money, Johnson took an equity stake along with what was then the Loews chain in the 12-screen multiplex movie theater in Baldwin Hills ...
When did Johnson sell his Starbucks license?
In March 2008, Johnson signed a multi-year marketing deal to help electronics retailer Best Buy Co. bolster sales in urban neighborhoods. In October 2010, Johnson sold his interest in 105 Starbucks licenses back to the company.
What is Canyon Johnson's investment?
Johnson's urban investments were formed in 2001 as the Canyon-Johnson Urban Fund, an alliance with Canyon Capital. The alliance has financed 31 real estate developments in 13 states and the District Of Columbia. The first Canyon-Johnson Urban Fund struggled for two years to raise $300 million to invest in urban neighborhoods. A subsequent fund raised $600 million while the third and biggest investment fund was started in April 2008 and drew $1 billion from pension funds and other investors. The Canyon-Johnson fund was involved in the $100-million purchase of the 32-story former Transamerica Center complex in downtown Los Angeles that subsequently was renovated and sold for $205 million. The fund also had a stake in Sunset+Vine in Hollywood, which was built for $125 million and sold for $160 million.
Who owns SodexoMAGIC?
The initiative includes a marketing agreement and the formation of SodexoMAGIC, LLC, a new joint venture that is 51 percent owned by Johnson.
How much did Canyon Johnson Urban Fund raise?
The first Canyon-Johnson Urban Fund struggled for two years to raise $300 million to invest in urban neighborhoods. A subsequent fund raised $600 million while the third and biggest investment fund was started in April 2008 and drew $1 billion from pension funds and other investors.
How many Starbucks does Magic Johnson own?
While Magic Johnson owned Starbucks stores, he sold his 105 Starbucks franchises back to the company in 2010. As per the Los Angeles Times, Johnson was looking to invest in sports after some time. Before he sold the Starbucks stores, he had also sold his 4.5 percent ownership stake in the Los Angeles Lakers to Dr Patrick Soon-Shiong. People asked 'How many Starbucks does Magic Johnson own?' on Twitter as many fans believed the Lakers legend would have spoken against the Starbucks Black Lives Matter movement. Many fans pointed out that Johnson was the reason Starbucks became available in black neighbourhoods.
Did Johnson convince Schultz to buy Starbucks?
As Johnson's board room meetings did not convince Schultz, the Lakers star had apparently invited him to one of the theatres he owned back then. In a CNBC interview, Johnson later stated that the 1998 Starbucks deal was a 'game-changing deal' for him that put him 'on a path of success'.
Did Magic Johnson sell his Starbucks?
In 2010, Los Angeles Lakers legend Magic Johnson sold his 105 Starbucks stores he owned, back to the company. Global coffee chain Starbucks has recently received heavy criticism after it was revealed that the company did not let employees wear Black Lives Matter clothing or accessories. As per reports, the company wanted to 'create a safe ...
How many kids does Magic Johnson have?
Magic Johnson Has 3 Children Who Are All Grown up — Meet Andre, EJ and Elisa. Magic Johnson's three kids grew up in the spotlight thanks to their famous parents, but they've made sure to make names for themselves through the years. Earvin "Magic" Johnson is considered an NBA legend, and his controversial life is known by many around the world.
Why did Magic Johnson quit the NBA?
At the peak of his basketball career, he had to quit the league after testing positive for HIV.
When did Magic become a father?
In 1981 , Magic became a father for the first time when his then-girlfriend, Melissa Mitchell, gave birth to a son. Unlike his younger siblings, Andre has chosen to stay out of the spotlight and was raised by his mom. While he didn't grow up with Magic, the two remain to have a solid relationship.
Do Andre and Magic Johnson have a business?
More than just being father-and-son, Magic and Andre have done business together, and go on vacation to spend time together whenever they can. While he was the Vice President of his dad's business Magic Johnson Enterprises at one point, he is no longer a part of it and instead put up his own called "Love + Light Ventures, LLC."
Who is Cookie and Magic's youngest daughter?
THEIR YOUNGEST DAUGHTER - ELISA JOHNSON. A couple of years after welcoming EJ, Cookie and Magic wanted to expand their family. However, instead of taking the chance of transmitting HIV to their child, the couple decided to adopt instead. They welcomed their youngest daughter Elisa to their family in 1995.
Did Cookie Johnson carry her son?
Cookie Johnson was carrying her first son Earvin Johnson III when Magic found out that he was HIV positive. Fortunately, the virus was not carried over to EJ and he was born happy and healthy a couple of months after the HIV announcement.
Overview
Earvin "Magic" Johnson Jr. (born August 14, 1959) is an American former professional basketball player. Often regarded as the greatest point guard of all time, Johnson played 13 seasons in the National Basketball Association (NBA). After winning championships in high school and college, Johnson was selected first overall in the 1979 NBA draft by the Los Angeles Lakers, leading the team t…
Early life
Earvin Johnson Jr. was born in Lansing, Michigan to General Motors assembly worker Earvin Sr. and school janitor Christine. Johnson, who had six siblings and three half-siblings by his father's previous marriage, was influenced by his parents' strong work ethic. His mother spent many hours after work each night cleaning their home and preparing the next day's meals, while his father did janitorial work at a used car lot and collected garbage, all while never missing a day at General …
High school career
Johnson was first dubbed "Magic" as a 15-year-old sophomore playing for Everett High School, when he recorded a triple-double of 36 points, 18 rebounds, and 16 assists. After the game, Fred Stabley Jr., a sports writer for the Lansing State Journal, gave him the moniker despite the belief of Johnson's mother, a devout Christian, that the name was sacrilegious. In his final high school season, Johnson led Everett to a 27–1 win–loss record while averaging 28.8 points and 16.8 reb…
College career
Although Johnson was recruited by several top-ranked colleges such as Indiana and UCLA, he decided to play close to home. His college decision came down to Michigan and Michigan State in East Lansing. He ultimately decided to attend Michigan State when coach Jud Heathcote told him he could play the point guard position. The talent already on Michigan State's roster also drew him to the program.
Professional career
Johnson was drafted first overall in 1979 by the Los Angeles Lakers. Johnson said that what was "most amazing" about joining the Lakers was the chance to play alongside Kareem Abdul-Jabbar, the team's 7 ft 2 in (2.18 m) center who became the leading scorer in NBA history. Despite Abdul-Jabbar's dominance, he had failed to win a championship with the Lakers, and Johnson was expected to help them achieve that goal. Lakers coach Jack McKinney had the 6-foot-9-inch (2.0…
Rivalry with Larry Bird
Johnson and Bird were first linked as rivals after Johnson's Michigan State squad defeated Bird's Indiana State team in the 1979 NCAA finals. The rivalry continued in the NBA, and reached its climax when Boston and Los Angeles met in three out of four NBA Finals from 1984 to 1987, with the Lakers winning two out of three Finals. Johnson asserted that for him, the 82-game regular season was composed of 80 normal games, and two Lakers–Celtics games. Similarly, Bird admi…
Legacy
In 905 NBA games, Johnson tallied 17,707 points, 6,559 rebounds, and 10,141 assists, translating to career averages of 19.5 points, 7.2 rebounds, and 11.2 assists per game, the highest assists per game average in NBA history. Johnson shares the single-game playoff record for assists (24), holds the Finals record for assists in a game (21), and has the most playoff assists (2,346). He is the only player to average 12 assists in an NBA Finals series, achieving it six times. He holds th…
Executive career
On February 21, 2017, Johnson replaced Jim Buss as the president of basketball operations for the Los Angeles Lakers. Under Johnson, the Lakers sought to acquire multiple star players and cleared existing players, including future All-Star D'Angelo Russell, off of their roster in an attempt to free up room under the league's salary cap. The franchise reached an agreement with free agent LeBron James on a four-year contract in 2018, but efforts to trade for Anthony Davis durin…
Did Magic Johnson Ever Own Starbucks?
Magic Johnson Enterprises is an American investment company owned by retired NBA Hall of Fame legend Magic Johnson. In 1995, after some criticism that he only invested with other people's money, Johnson took an equity stake along with what was then the Loews chain in the 12-screen multiplex movie theater in Baldwin Hills (now owned by Cinemark). The Beverly Hills–based Magic Johnson Enterprises formerly owned Magic Johnson Theatres in four cities, 31 Burger King restaurants …
How Many Starbucks Franchises Did Magic Johnson have?
Final Thoughts
- Howard Schultz is the founder and largest shareholder of Starbucks. Earvin “Magic” Johnson approached Schultz and convinced him to open Starbucks in the inner city, to which the founder eventually agreed after some hesitance. The former NBA star had to use a bit of creativity to get the deal signed under the Urban Coffee Opportunities (UCO) between Starbucks and the Johnso…
FAQ Section
- Magic Johnson had 105 Starbucks franchises before selling them back to the company for a reported $75 million.In total, he helped build 125 Starbucks franchises. They were located in New York, Los Angeles, Chicago, Denver, Seattle, Atlanta, Detroit, Washington, San Francisco, and San Diego. These franchises helped create jobs with health benefits a...