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

[jjs07]

Earvin Magic Johnson @MagicJohnson · 1h 1 hour ago

Kobe should also be in the early MVP talks with LeBron, Chris Paul, Blake Griffin, Anthony Davis, Carmelo, Curry, Thompson and Rose.

...

 

[sea manup]

as much as he sounds like an idiot on twitter he makes money for the same reason all people are successful and make money, he works very hard and understands the business he runs 

 

[Animal Thug]

I don't think he's dumb at all. I think he's intelligent to be honest.

Not very articulate, but not dumb by any means. His intuition has brought him millions when others were afraid to invest in the ventures he invested in.

Plus he's popular, so it's easy to see how other rich folks could want to invest and venture with him.

 

[shatterkneesinc]

the jerry buss connection

and as larry bird once said, hes a conman

 

[sea manup]

lets not do that every successful business man is a conman thing 

 

[meyer lansky]

 
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

Bingo, especially when he's wealthy enough to invest in hedge funds/private equity funds that only "accredited investors" have access to that are compounding at 20-30% a year

 

[phuzzy badpheet]

Magic has my respect.

When he first announced that he had the virus, he could have hid and then gone away, but he didn't. He stayed in the public eye, and then had the courage to face whatever ramifications that followed, and then become even more successful

That alone speaks volumes, never mind his lacking command of what people think is important.

 

[Hank Scorpio]

You guys need to understand the power of building your own brand. This man will forever be remembered probably for not his achievements with the Lakers, but the fact that he "beat" HIV.

He doesn't have to be the smartest guy in the world, but if he has smart people surrounding him he'll be a much better position than a smart person who's are on their own.

 

[ice city fc]

Pretty sure these guys have advisors.

I had the opportunity to have a very interesting conversation with Adonal Foyle (ex-Center with the Warriors) his summer on the exact topic.

An exceptionally bright guy like Adonal whose focus at this point is pretty far removed from aquiring wealth or biulding a business empire has a team of +12 advisors who he meets with just about weekly.

Multiple lawyers, multiple accountants, multiple investment advisors.

I can't even imagine how many people someone like Magic or Shaq have on their team.

 

[Hank Scorpio]

I had the opportunity to have a very interesting conversation with Adonal Foyle (ex-Center with the Warriors) his summer on the exact topic.

An exceptionally bright guy like Adonal whose focus at this point is pretty far removed from aquiring wealth or biulding a business empire has a team of +12 advisors who he meets with just about weekly.

Multiple lawyers, multiple accountants, multiple investment advisors.

I can't even imagine how many people someone like Magic or Shaq have on their team.

I know a few billionaires and they don't have as many accountants, lawyers and advisors as people would think they do.

Do they have a few? Yes, but it's not like all them lawyers Monty Burns has

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[bravelude]

Magic has my respect.

When he first announced that he had the virus, he could have hid and then gone away, but he didn't. He stayed in the public eye, and then had the courage to face whatever ramifications that followed, and then become even more successful

That alone speaks volumes, never mind his lacking command of what people think is important.

In a sense, that is scary. If he had never disclosed it, who would know? He looks perfectly fine and healthy. What is he really taking? But hes been rather vocal.

 

[ice city fc]

I had the opportunity to have a very interesting conversation with Adonal Foyle (ex-Center with the Warriors) his summer on the exact topic.

An exceptionally bright guy like Adonal whose focus at this point is pretty far removed from aquiring wealth or biulding a business empire has a team of +12 advisors who he meets with just about weekly.

Multiple lawyers, multiple accountants, multiple investment advisors.

I can't even imagine how many people someone like Magic or Shaq have on their team.

I know a few billionaires and they don't have as many accountants, lawyers and advisors as people would think they do.

Do they have a few? Yes, but it's not like all them lawyers Monty Burns has

View media item 1248604

Yea but I imagine it's different for guys like Shaq and Magic and to a lesser extent Adonal Foyle. When you're basically a high profile celebrity, you're writing books, making public appearances, have endorsement deals, head charitable foundations, etc the team is heavy.

 

[Hank Scorpio]

Yea but I imagine it's different for guys like Shaq and Magic and to a lesser extent Adonal Foyle. When you're basically a high profile celebrity, you're writing books, making public appearances, have endorsement deals, head charitable foundations, etc the team is heavy.

Still not as big as you'd think it is.

They usually have an agent who handles the endorsements, a PR girl who handles the public appearances and TV ****, financial planner and accountants for the balance sheet, and a manager for other stuff. They also probably go to a specific law firm that handles all the litigious activities they'll have.

What you're referring to is heavily exaggerated, man. Trust me, I know some billionaires that own sports teams. It not that out of control

My old boss from a few years ago had a brother who handled Shaq's investments for awhile back when he was in Miami. He also handled other athletes and celebrities such as Dan Marino, Steve Young and Spike Lee.

 

[fontaine]

Shaq >>> magic

 

[ice city fc]

Nah not exaggerated at all I can't speak on Magic or Shaq but I know for a fact the number from Adonal Foyle is exactly what it is. What you listed alone is more than halfway to 12 and all things he talked about. Plus a publicist for his book, and individuals running a number of different charitable organizations. He's also got endeavors back home in the West Indies. Could be part of why it's so many.

 

[Hank Scorpio]

Nah not exaggerated at all I can't speak on Magic or Shaq but I know for a fact the number from Adonal Foyle is exactly what it is. What you listed alone is more than halfway to 12 and all things he talked about. Plus a publicist for his book, and individuals running a number of different charitable organizations. He's also got endeavors back home in the West Indies. Could be part of why it's so many.

I guess when you sit down and add up all the people surround him, it does compound. I see what you mean.

I was talking about team of 50-60 people handling all the day-to-day activities.

 

[mister friendly]

I dont know how you could conclude that Magic Johnson isnt smart based on tweets (that are meant to be ultra PC)

Twitter and business are two different things look at Rupert Murdoch

 

[mr jordan04]

And that mog don't have AIDs.

He's always been positive...

Sacrificed his sons booty

 

[jjs07]

Close to a two year bump, but he's had some gems over the past few days...

 

[osh kosh bosh]

The ability to deliver cogent on the spot basketball analysis in an entertaining way is separate from the ability to properly judge the value of a business investment?

 

[jjs07]

The ability to deliver cogent on the spot basketball analysis in an entertaining way is separate from the ability to properly judge the value of a business investment?

Seen him do one and not the other...have no clue what he's like behind the board room doors. All I know is from what I've watched on ABC/ESPN and from what I've read that he's tweeted.

Until proven otherwise, I still say that he has the greatest team of financial advisors ever assembled.

 

[mjdalegend]

Dude is smart as ***** gettin' so much yambs and keepin' his wife around, not lettin' her divorce him and gettin' a share of his pie..

 

[jjs07]

Earvin Magic Johnson Verified account
‏@MagicJohnson

The American people have spoken loud and clear with their vote by electing Donald Trump as the next President of the United States.

 

[jjs07]

Completely robbed of this content while he was running the lakers...I'm glad he's free.

 

[100027]

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.

It’s actually a good lesson in how meaningless the image of a “good businessman” is. Don’t judge a book by its cover