Magic Johnson – MVP, Businessman, Analyst, Owner, HIV Activist

Magic Johnson

Business Ventures

Johnson founded Magic Johnson Enterprises in 1987 and serves as the Chairman and Chief Executive Officer. His portfolio includes four AMC Magic Johnson movie theatres, over 100 Starbucks locations, a range of Burger King franchises throughout the South and thirteen 24 Hour Fitness Magic Sport centers.

Johnson is also behind the Canyon-Johnson Urban Fund, which was founded in 1998 in an alliance with Canyon Capital, an alternative asset manager. It is the largest private equity fund focused on the revitalization of ethnically diverse communities.

Television

In 1998, Johnson hosted a late night talk show called “The Magic Hour” on the Fox network. The show lasted two months and was cancelled due to low ratings.

Johnson was a studio analyst for TNT between 2001-2008. He left for a similar role at ESPN, where he is on “GMC NBA Countdown” with Jon Barry, Michael Wilbon and Stuart Scott.

HIV Activism

After Johnson was diagnosed with the HIV virus, he founded the Magic Johnson Foundation in 1991. The nonprofit foundation focuses on developing programs to aid community-based organizations that focus on educational, health and social needs of urban locations. Johnson was briefly on the National Commission on AIDS for eight months before stepping down.

Owner

In January 2012, Johnson joined with Guggenheim Partners and Stan Kasten in a bid for ownership of the Los Angeles Dodgers baseball team. In March 2012, Johnson’s ownership group was announced as the winner of the proceedings to buy the Dodgers. The Johnson-led group, which also includes movie executive Peter Guber, paid $2 billion for the Dodgers, the largest amount paid for a professional sports team. While Magic Johnson is considered the leader of the ownership group, the controlling owner is Mark Walter, chief executive officer for Guggenheim Partners. Peter Guber, who is co-owner of the Golden State Warriors, owns a small stake in the Dodgers along with Johnson. Johnson and Guber are also partners in the Dayton Dragons, a minor league baseball team that has sold out 844 consecutive games, a record for professional sports. Together with Guggenheim, Johnson was also involved in the February 2014 purchase of the Los Angeles Sparks team in the WNBA.

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