Magic Johnson and his (near) billions...how?

jjs07

jjs07

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Not sure if he's a billionaire, but that's not the point. In addition, I really have nothing to base my opinion off of other than tweets, his ESPN/ABC commentary, and the Magic Hour...that being said, for a man who sounds dumb as ******* rocks, how does he have the midas touch in the business world? I mean, his team of advisors need raises if they're the ones calling the shots. I just can't see dude sitting in board meetings and soaking everything in...I just don't get it...
 
I don't know man, but his tweet the other day was yet another one that made me shake my head. He definitely doesn't come off as the self-made, entreprenuerial, mega millionaire that he is.
 
He sold his portion of the Lakers for 60 mil.
Sold a bunch of Starbucks for 75 mil.
Has all his movie theaters and such.
Whatever he made from his TV show. (10 dollars)
Almost 20 mil as a player.
Endorsements (not sure how much)
I assume wise investments elsewhere.
ESPN salary however much that was for a while.
NBC money he made????

And now his stake in the Dodgers.

I mean, he's done a lot since retiring, always active and out there doin stuff.


Only thing that wouldn't add up, is his spending the past 20+ years on the meds he needs, which has to be fairly substantial.

His company is worth a billi, and he himself nets at 500 mil, so iono.
 
CP1708 said:
He sold his portion of the Lakers for 60 mil.
Sold a bunch of Starbucks for 75 mil.
Has all his movie theaters and such.
Whatever he made from his TV show. (10 dollars)
Almost 20 mil as a player.
Endorsements (not sure how much)
I assume wise investments elsewhere.
ESPN salary however much that was for a while.
NBC money he made????

And now his stake in the Dodgers.

I mean, he's done a lot since retiring, always active and out there doin stuff.


Only thing that wouldn't add up, is his spending the past 20+ years on the meds he needs, which has to be fairly substantial.

His company is worth a billi, and he himself nets at 500 mil, so iono.
Click to expand...

Yea...he's made bank. Like I said, he's got the midas touch business-wise.


651akathePaul said:
I don't know man, but his tweet the other day was yet another one that made me shake my head. He definitely doesn't come off as the self-made, entreprenuerial, mega millionaire that he is.
Click to expand...

Exactly how I feel...
 
he made wise investments....he was on that starbucks train before it turned into the cult following of a coffee shop that it is today 
 
You guys are delusional and stupid.

If it wasn't for Magic then we would never know that whichever team has the most points at the end of the game is the winner. He changed the world with that mindset.
 
roll.gif
 
yall ain't right man 
laugh.gif


most, if not all, of magic's business ventures have been franchises if i'm not mistaken. starbucks, 24, etc already have pre-existing business models in place and it's in their best interests to make sure the franchise owner has all the resources he needs to be successful, especially with his name attached. the last thing they want is for this type of logic to run one of their franchises:

he was probably in meetings like "the only way we won't make money is if no customers come in" 
 
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Pretty sure these guys have advisors.

I saw this about Shaq today.

"When Shaquille O'neal was drafted into the NBA, he spent the first million that he earned within 30 minutes. O'neal then received a phone call from his banker, who scolded him, and told him that he would end up joining the list of former at...athletes who ended up broke if the current trend continued.

O'neal decided to sharpen up his education on business and finance. He returned to college, completing his Bachelor's degree, followed by his M.B.A, and lastly, his Ed.D. That's right, he is now Dr. Shaquille O'neal.

As of today, Shaq is the joint owner of 155 Five Guys Burgers restaurants, 17 Auntie Annie's Pretzels restaurants, 150 car washes, 40 24-hour fitness centers, a shopping center, a movie theater, and several Las Vegas nightclubs.

In addition to his business holdings, O'neal still earns $22 million per year (roughly $423,000 per week) from his endorsement deals with Arizona Creme soda, Icy Hot, Gold Bond, Buick, Zales, and at least a half dozen additional corporate sponsors. He is also a studio analyst for TNT.

In Shaq's own words, "It is not about how much money you make. The question is are you educated enough to KEEP it."

Shaq seems dumb...but whoever is advising him....they are doing a great job.
 
Magic has been about his paper since day one. Business mind. Check out his power 105.1 breakfast club interview. Dude invested his 1st check. Kept the money moving, sold off business before they fell off. Just BC his English is bad, don't mean his math is.
 
also doesn't take a genius to make money in investments like mutual funds. when you have Ms compounding interest with a good rate of return, you can just sit back and watch
 
macky said:
Magic has been about his paper since day one. Business mind. Check out his power 105.1 breakfast club interview. Dude invested his 1st check. Kept the money moving, sold off business before they fell off. Just BC his English is bad, don't mean his math is.
Click to expand...

Exactly

Jerry Jones sounds like an idiot too but he can add and subtract just fine.
 
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