Humbled Magic Johnson Promises To Expand $1.2 Billion Empire After Sports & Business Honchos’ Key Lessons

Earvin “Magic” Johnson, the legendary NBA Hall of Famer, has never been one to rest on his laurels. With an infectious smile and an unparalleled drive, he conquered the NBA, earning five championships. Yet, his greatest triumphs might be his business endeavors, where he has built a $1.2 billion empire with the help of cinema halls and sports teams. Now after a business meet, the Lakers icon appears poised to reach even greater heights.
Recently, Johnson took to Instagram to post a photo alongside Qatari Prime Minister Mohammed bin Abdulrahman bin Jassim Al Thani, a moment that epitomizes his status as a global business mogul. The Sportico Summit that took place in Doha brought together the who’s who of sports and business luminaries to discuss the industry’s future. Moreover, the 65-year-old, through his post, assured his followers that he will implement all his learnings in his businesses.
“I appreciate you both for inviting me and bringing together power players from all over the world including owners of sports teams, companies that own media rights, entrepreneurs, investors, presidents and diplomats from different countries all over the globe! Now that I’m back, I’m still processing all the gems and wisdom I gained throughout the last couple of days so I can apply them in my current and future business ventures!” wrote Johnson as the caption of his post.
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View this post on Instagram A post shared by Earvin “Magic” Johnson (@magicjohnson)
The Sportico Summit in Qatar was a melting pot of brilliance, blending sports, business, and culture under one roof. In addition to Johnson, the summit featured celebrated names like former US President Barack Obama, Hollywood actor Ryan Reynolds, former Prime Minister of the UK Tony Blair; Red Bird Capital Founder Gerry Cardinale, and many more.
“I spent the last few days at the Sportico Summit in Doha, Qatar, where we focused on topics surrounding the intersection of sports, media, and entertainment!” wrote Johnson as the caption of another Instagram post.
Now if we look at Johnson’s business portfolio, it is as versatile as his legendary basketball game. The NBA legend made investments in the sports sector in addition to Magic Johnson Enterprises. His purchase of the Los Angeles Dodgers in January of 2012 for an incredible $2.15 billion was his most significant financial choice of that year.
In addition, he also has stakes in the NFL franchise Washington Commanders and the WNBA team Los Angeles Sparks. Moreover, the billionaire even expanded his sports investment portfolio in September when he invested in the Women’s Soccer Team, the Washington Spirits.
Whether dazzling fans on the court or shaping the business world with visionary leadership, Johnson continues to inspire. With new lessons and a refreshed outlook from this summit, it can be speculated that the magic is far from over. But not every decision of the Lakers icon is business oriented. In fact, there was a time when one of Johnson’s business choices was emotional.
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When Magic Johnson’s business conference turned emotional
Johnson has always been known for his larger-than-life presence, both on and off the court. Now to keep himself updated on the modern business landscape, the 65-year-old has to travel to different business meets and conferences across the world. However, at a conference in August, his inspiring journey from sports superstar to a global business mogul struck an emotional chord.
Through an Instagram post, the former Lakers icon shared that he was a guest speaker for the XP Brazil performance in Sao Paulo where he inspired a new generation of 8000 entrepreneurs, financial advisors, and investors.
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“The energy was incredible, and it was touching to see some attendees get emotional during our meet and greets from meeting me!” wrote the former point guard on his Instagram Story.
The event named ‘Expert XP’ was organized by Banco XP founders Guilherme Benchimol and Gabriel Lead, and the CEO Jose Berenguer. With investments in real estate, sports franchises, and underserved communities, it can be said that Johnson was the perfect choice for a mentor at the conference.