How Magic Johnson Turned $40M Into a $1 Billion Empire
ฝัง
- เผยแพร่เมื่อ 11 ก.ย. 2024
- Discover the incredible journey of Magic Johnson, from NBA legend to business mogul. In this episode of FOS Explains, we dive deep into how Magic Johnson transformed his $40 million net worth at retirement into a staggering $1 billion empire. Learn about his strategic investments, entrepreneurial ventures, and key business moves that made him one of the richest former athletes in the world.
Who should we spotlight next?
Shaq
Reggie Jackson
Alex Rodríguez
Conor Mcgregor
The Rapper NAS, Rick Ross, Floyd Mayweather. Also include anyone that we typically would NOT know was making strategic investment moves.
His best business move was his initial one when he bought all those radio stations in the 80s- that was smart and forward thinking.
Better than flipping 100 Starbucks locations???
@FrontOfficeSports Definitely dollar-wise but that was the one that really got him started. If I remember correctly, he bought a radio station which was sitting on a bunch of vacant land. He managed to sell the vacant land for the initial purchase price. In essence, he got the radio station for free. He even tried to get his teammates in on the deal but they passed on it. Between that and talking to the team owner about business, the business seed was planted
@@jay3492 most nonsense business m0ve, where you hear that from?
He probably has a finacial manager who manage his private equity
The thing to me is, if you invest and have other income outside of dividends then you will be able to live off dividends without selling. Which means you can pass that on to your kids which will give them a leg up in life. $40k dividends received in 2022.
I agree! That's why it is advisable that you have to invest while you still have a regular job or earning a regular income, and do it constantly. You still need to have something that will keep you going even if you're investing. Good financial planning and money allocation is the key.
In the Los Angeles area, I believe he sold his interest in the TGIF restaurant (Ladera Heights), Magic Theater (now Cinemark in the Baldwin-Crenshaw Shopping District), and others to maximize his investment power. I had notice the mentioned businesses no longer have his name on it. Regardless, he is part of a growing trend, and a good one, for athletes and artists to expand their portfolio and break the trend of being broke outside of the limelight. I would like to see spotlighted like Simone Biles or rookies like Caleb Williams who I have heard starting his investment journey, so it would an interesting look.
Great suggestions!
I'm taking notes, and I need to change my ways of thinking.
Yeah but you also need to have Magic’s celebrity status that has helped him make all that money.
@@darinheight6293 or maybe some good skills and savings as well
The magic is not stopping !!!
Magic Johnson's biggest business move was very early on in his career, when he changed his mindset, from being a consumer to be become a producer, an owner, and to learn about investing. It is all about a particular mindset and actions related to furthering that end.
Can’t agree less. Mindset is crucial cos it could make you frugal and help you save to invest cos Warren buffet makes a lot of investment cos there is cash for it
Cohesive and insightful.
I really appreciate that Magic invests in communities and creates jobs for the people.
His best business move was hanging around Jerry Buss. Learning by being around smart business people on someone else’s dime. His formula was different than Buss, but he had time to think & plan.
Great video, media and edits look great and very informative!
This was a very educational video. It shows what athletes can achieve by investing their money. Also the Brand as Athletes seem to have played a small role in Magic's investment success, which reinforces his advice to Shaq.
Building and Creating is much more profitable than Working, Athletes are glorified workers at the end of the day. Investing in itself is putting energy into a creation.
Magic Johnson Star bucks
Great quality
Quality content.
Best investments Starbucks.AMC Theaters, and LA DODGERS ⚾️
Very Nice.
Starbucks gave him global credibility and admiration from the black community. I didn't think Starbucks was for us until I found out he was an owner and his movie theater did quite well.
I don’t drink coffee.
@@darinheight6293 Neither Do I But it Has Nothing To Do With Making A Wise & Profitable Investment in The Starbucks Franchise.
@@lord-vast elaborate
@@darinheight6293 I Just Did SMH
never ending..............................
BIG MAGIC
Who edits your videos?
there's more than 4 billionaire athletes, though... Ronaldo, Messi, Federer, Mayweather, Le Bron. Both Messi and Ronaldo are believed to have a higher than Magic as well
@@runnerboy999 Messi, Ronaldo, Federer, and Mayweather are all close but have not been valued as billionaires yet.
Those first three are likely the next three though!
@@FrontOfficeSports y not mayweather
@@FrontOfficeSports I present to you Mathieu Flamini....worth more than the 4 you mentioned combined.
Why didn't he invest in uber or netflix etc.? he's still a billionaire, good for him.
Mathieu Flamini. You forgot about him
I think the Starbucks move because it opened a bigger market for both MJ and Starbucks. Hell if he didn't turn down Nike back in 80-81 that would've been his best move. He would've been a billionaire a long time ago.
Thing was, Magic and Bird were loyal to Converse, and I wore Magic's shoes as a kid.
Loved him as a player, not so much now , he is a bit cocky now , he invests , cool , but be real his wealth is speculated ( bubbled) and he is used for his name by the real money as front man . Years ago people were raving he bought the dodgers, not so.
Where does your wealth come from.
Everybody needed somebody whet you like it or not
Zio brands. Good luck with that
Whats up with the constant beeping sound in the background?
Just show that outperforming s&p 500 is almost impossible, according to forbes his net worth currently 1.2B$ , its definitely lot of money but if he invested that 40M$ to s&p 500 he would worth around 1.05B$ PASSİVELY. His 33 year average return was 10.85% while s&p returned 10.6% , if forbes estimate is right he basically wasted 33 year for nothing.
I ain't know magic had money in bama 😂💪🏾
Player gave more money than the owner. Same time fans have less money and more more poor
💰💰💰
I can make money better than I can hit a free-throw 😂
How to franchise , and thank you❤
If you start with 0$ its hard to
everyone: private equity is destroying this country.
same people: great job managing private investments magic.
Any Winning Time audience here?
Just 3 decades?
Goals
It's called crony capitalism it's easy when your connected to make money
The Dodgers
And from 0 to $40M?
His career earnings with the Lakers
Isn’t Mayweather a billionaire also?
No
@@HovitoBaby Yes
Tht son of his.😅🙅🏾🤦🏾
Why is he on your mind? You want him to yourself?
@@spps1297 ummm.. no... "my thoughts were, how could someone be so rich,yet dress so Tacky.🤔🤷🏾♂️ thts it..
Yall copied Simon Squibb lol
Bro got AID's , I am beginning to think its Financial AIDS.. not HIV
you mean america
Messi and Ronaldo are billionaire
Not yet...they only grossing a billion dollar career earnings.. net worth and career earnings are two different things.
Why is he still alive?? Others with HIV will have died most likely.
🪄
Lol... If only he saw how much he would have made if he made the Nike deal
mfana ohlaza
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