Magic Johnson earned just $40 million during his NBA career, even after spending over a decade as one of the league’s brightest stars. His biggest check came from that legendary 25-year, $25 million Lakers deal, which kept paying him until 2009—13 years after his second retirement! But Magic’s real win came off the court, turning that modest NBA income into a jaw-dropping $1.5 billion empire. So, when Magic talks business, you listen. And it looks like the Invest Festival 2025 organizers knew exactly what they were doing by bringing him in!

Invest Fest returned for its biggest year yet, taking place from August 22-24 in Atlanta, Georgia! Founded by Rashad Bilal and Troy Millings of “Earn Your Leisure” (EYL), the three-day event drew over 25,000 people daily. Huge names like Magic Johnson, Jack Dorsey, Issa Rae, Steve Harvey, Tabitha Brown, and 2 Chainz headlined Invest Fest 2025. The festival also awarded over $275,000 to Black and Brown entrepreneurs through scholarships, pitch contests, and grants. It truly cemented its role as a powerful driver of economic empowerment and opportunity!

Magic Johnson took to social media to share his excitement about speaking at Invest Festival 2025, posting pictures from his time on stage. He wrote, “What an electric atmosphere yesterday at Invest Festival 2025! It was one of the most amazing events I’ve ever attended and I was blown away to see over 20,000 attendees came into the keynote with an open mind. They also had over 400 exhibitors throughout the weekend. I felt the energy and thirst for knowledge throughout the session and I’m glad I was able to share my journey and give the audience business advice to take with them as they all go on to build their own businesses.”

He also praised the founders of Earn Your Leisure, Rashad Bilal and Troy Millings, for creating such an impactful platform. “I’m so impressed with and proud of the two co-founders of Earn Your Leisure Rashad Bilal and Troy Millings for what they’ve built and the knowledge they continue to provide the next generation. Thank you for allowing me to close out the 3-day conference!”

This isn’t the first time Magic Johnson has stepped into the role of a business and leadership mentor. Just a few weeks ago, he shared some valuable advice on the Bloomberg podcast, using the Washington Commanders as an example. He stressed the importance of “preparation,” saying it starts on Monday and carries through to game day. Magic also highlighted the value of teamwork, warning that personal agendas can ruin everything: “We lose as a team, we win as a team… it’s going to kill you if it trickles down within the locker room.”

And keeping with the trend, Magic Johnson gave another valuable advice to the 20,000+ entrepreneurs present at the event, citing an example from his own life.

Magic Johnson’s confession about wealth and representation at EYL

While speaking on the EYL stage at Invest Fest 2025, Magic Johnson opened up about a pivotal lesson from his youth that shaped his entire financial mindset. He shared the story of turning down Nike stock decades ago in exchange for a lump sum of cash, asking the audience, “You know how much money, 46 years later, that stock will be worth today? $1,000,000,005.” That humbling moment, he said, drives his mission to educate others about building generational wealth. “We educate ourselves about that so that you are successful, so that your siblings, your family, your friends can follow your lead.”

Magic also got real about the discipline and drive behind his success. “I go to bed at eight o’clock, I’m up at four o’clock, I work out for two hours, and then I’m in the office all day. I’m driven. I don’t need nobody to pat me on the back, I’m self-motivated, so that plays in my favor.” But for him, financial success is about more than just money; it’s about representation. “What is our biggest challenge,” he said, “is that we don’t have a seat at the table.” Magic explained that when someone from the community reaches success, it creates real influence and opportunity. Achieving that level puts you “at the table,” where you’re included in key decisions that impact your city and community. That, he said, is where the real power lies.

And Magic has been living that philosophy for years. His first big investment came in 1994 when he bought a 4.5% stake in the Lakers for $10 million, later selling it in 2010 for about $28 million. From there, he expanded across sports and business — joining Guggenheim Partners in 2012 to buy the Los Angeles Dodgers, adding the WNBA’s Los Angeles Sparks in 2014, and becoming co-owner of MLS’s LAFC in 2018, which went on to win the MLS Cup in 2022. He also grabbed a stake in the NWSL’s Washington Spirit, proving his eye for diverse opportunities. But his boldest move came in 2023 when he dropped $240 million to join the ownership group buying the NFL’s Washington Commanders for just over $6 billion. As Magic put it himself, “It’s the greatest deal I’ve ever done.”