NBA icon Magic Johnson is having remarkable success this year. After recently acquiring an ownership stake in the NFL’s Washington Commanders, he now finds himself on the list of billionaires. While the world applauds his achievements, the 5x NBA champion wishes to keep one thing hidden from his wife. 

But what is the secret he wishes to withhold from his wife?

What is Magic Johnson’s secret?

Despite his 13 seasons in the league, a substantial portion of his wealth stems from his business ventures. Watching how he is deeply involved in various businesses, it’s no surprise how he was able to amass a fortune. Hailing from Lansing, Michigan, Johnson has always maintained a remarkably grounded and modest demeanor. While he tirelessly pursues his goals, the 5x champion also ensures that he contributes to his community. His decision to own the Commanders also follows the same inspiration.

During a recent appearance on Jimmy Kimmel’s show, he spoke about something that he wants to keep a secret from his wife. As the host asked if he felt excited or embarrassed about his recent accomplishment, Johnson said, “Embarrassed, don’t tell Cookie.” He added, “Jimmy, I never thought in my wildest dreams that any of this could happen like this.”

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He revealed that when people discuss his attainment of the coveted billionaire status, it makes him feel self-conscious. This is the secret he wishes to keep hidden from his beloved wife, Cookie Johnson.

The 12x NBA All-Star accumulated approximately $40 million in salary, which could have been even greater had his career not been prematurely halted due to his AIDS diagnosis. Nonetheless, his sharp business sense and profitable ventures enabled him to construct a substantial business empire. Let’s explore a few of his deals.

Magic Johnson’s business deals

Johnson’s journey throughout the 90s and 2000s is a narrative of astute financial investments and ventures in the sports realm. His primary source of wealth today stems from his significant ownership of EquiTrust, a company he acquired nearly a decade ago. Under his helm, the company’s valuation skyrocketed from $16 billion to a remarkable $26 billion. He holds a 2.3% ownership of the LA Dodgers, which has surged in value to $4.8 billion from its initial $2 billion price in 2012.

He also invested in LAFC in 2014 and holds a stake in the LA Sparks. Notably, he purchased a share of the Los Angeles Lakers in 1994, the iconic team where he made his name in the NBA, for $10 million, eventually selling it for $27 million in 2010. He also possesses a 4% stake in the NFL’s Washington Commanders, secured through a substantial $242 million investment in a groundbreaking $6.05 billion deal. His business portfolio is indeed impressive.

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