In addition to being inducted into the Naismith Memorial Basketball Hall of Fame twice – in 2002 for his individual career and again in 2010 as a member of the “Dream Team” – Johnson was recognised as one of the 50 Greatest Players in NBA History in 1996 and chosen for the NBA 75th Anniversary Team in 2021, per Sports Illustrated.

Since retiring from basketball, Johnson has made impressive strategic moves, using his influence to grow his wealth and social capital. Here is what you need to know ...

What has record-breaking quarterback Tom Brady been up to post-retirement?

What businesses has Magic Johnson invested in?

Loved for his charismatic nature and outgoing personality, Johnson kept investing in sports and continued to represent Black excellence in the space. He and his fellow billionaire business partner Mitch Rales became part of the new ownership group for the Washington Commanders in July 2023, per NBC News.

But this wasn’t the first rodeo for the businessman who, per Front Office Sport, already owns stakes in the NFL’s Commanders, MLS’ LAFC, WNBA’s Sparks, MLB’s Dodgers and Team Liquid esports.

With an estimated net worth of US$1.2 billion, per Forbes, his wealth grew post retirement after he invested in multiple business ventures including cinemas, Starbucks franchises and property. Most of his fortune comes from a 60 per cent stake in Equitrust, a life insurance company, per the same source, which grew from US$16 billion in assets under management to US$26 billion since the former athlete took over back in 2015.

What does Magic Johnson think of Michael Jackson?

The star later spoke of how he and MJ ate together while talking shop: “When I went over to his house to discuss, we got food and I wanted to be impressive and eat healthy, so I ordered grilled chicken. Our food came, and I couldn’t believe Michael had ordered a bucket of KFC!”

Johnson added that MJ shared his chicken – and he knew in that moment how similar they were.

What is Roger Federer up to in retirement? From his Uniqlo deal to charity

Who are Magic Johnson’s long-time celebrity friends?

Per People, Jordan, Jackson and Judge Greg Mathis joined Johnson and his family on his impressive yacht as they sailed and made stops all over Europe, including Greece, Italy and France, in 2023.

How does Magic Johnson give back?

Johnson has always been credited with having a big heart, sharing his time and resources with his community. If he’s not running food or clothes drives, he’s roping in big conglomerates to support causes that he cares about.

In March 2023, he joined Sideline RSV and used his fame to bring awareness to respiratory syncytial virus (RSV). According to its website, Sideline RSV is a health education campaign by pharmaceutical company GSK to raise awareness among older adults and their loved ones regarding the risks of RSV, which is a common virus that infects the lungs and respiratory tract, and causes mild symptoms similar to a cold.