Magic Johnson, the winning owner

Magic Johnson just won his thirteenth championship ring. It’s still in Los Angeles, but this time thanks to the performances of the Los Angeles Football Club who became champions of Major League Soccer for the first time in its history this weekend. After the NBA, the WNBA, the MLB, then the MLS will come to crown the former conductor of Showtime, who continues to work his magic to speak in the business world.

β€œLos Angeles, Business, Title. In that order”. It was a slogan that would stick with Magic Johnson’s success since the end of his career. And if the Lakers icon is wondering about the order of his new motto, he can take advice from Gareth Bale – he promises, he has knowledge on the subject – who offered him his thirteenth championship ring in part , the first in the world of football.

It almost became a routine, every time a Los Angeles team wins their championship, Magic Johnson walks around the field making java. Such was the case this weekend when LAFC defeated Philadelphia, winning the first title in its history. Another title in the bag of Magic, which is one of the owners of the franchise of soccer since its creation in 2014. In the same year, he also invested in the acquisition of the LA Sparks in the WNBA, which resulted in a title in 2016 thanks to a Candace Parker familiar with the height. The guy is obviously also at the party with the Lakers, where he bought 5% of the shares in 1994 for 10 million potatoes. An investment that paid off handsomely when Uncle Magic decided to sell his percentage to billionaire Patrick Soon-Shiong in 2010, pocketing in addition to five championship rings an estimated sum of between 50 and 60 million dollars. Without one or two, the game of Monopoly continued the Showtime instigator who worked with a group of investors to buy the Dodgers (baseball), 2 billion twigs. In 2012, Magic Johnson stepped into the world of baseball. As you can imagine, it probably ended with a title in 2020. Great nose, lucky charm… whatever, Magic Johnson seems to have a recipe for racking up titles.

If the sport occupies a large part in the portfolio of the company of the 1992 Olympic champion, Earvin Johnson Jr. all the places to build what is now an empire.

At the end of his career in 1996, the leader would follow the advice of his mentor Peter Guber, boss of Sony Pictures, to start building the Magic Johnson Cinemas. Working with his mentor’s group, Magic builds movie theaters in poor neighborhoods in South Los Angeles. An initiative that will have a snowball effect and so quickly that investors will return to the number 32. The Magic then signed an attractive agreement with Starbucks, it alone has the right to open franchises where it sees fit until 2010. That year, the man with twelve All-Star Game selections also sold a hundred of his Starbucks. Later, Larry Bird’s rival will also invest in Pepsi or Burger King.

β€œI always knew I wanted to be an entrepreneur. I just need to find mentors to help me understand the business. I was smart enough to have mentors who gave me good advice and helped me get started […] I built these theaters. It is a place where minorities can go with their families within their own community. But it also created a lot of jobs. My first cinema was among the most profitable in the country. Everyone was surprised. It gave me the experience I needed, so I built six more. It’s the best thing I’ve ever done. Β»

– Magic Johnson, on the podcast The Limitations from National Public Radio

As on the field, Magic Johnson took advantage of an opportunity that made him one of the most influential businessmen in the country. And the CEO of 63 berges does not intend to stop there because last June, he put his pawns in e-sport by investing in SimWin Sports, a digital sports league. The magic was in the field, now in the business world. Be careful, the next few years may also add a few more lines to Magic Johnson’s prize list. The LA legend could be part of a proposed takeover for the Las Vegas Raiders in the NFL. After all, he only needs American football and hockey to slam a magnificent grand slam.

Magic Johnson is an American sports legend. As a player or owner, the former Laker sows success wherever he goes. The business world is too easy for the bugger to have one hell of a level in Monopoly.

Text Source: Boardroom, NPR, Forbes

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