Magic Johnson Biography: Net Worth, Salary, Family, and Career Stats

Earvin Johnson Jr., aka, Magic Johnson, is a former professional basketball player who spent the majority of his career playing for the NBA franchise Los Angeles Lakers. Johnson is regarded as one of the greatest point guards in league history and was part of the storied ‘Showtime Lakers’ dynasty of the '80s decade.

In this article, let's get to know more about this Lakers legend's inspiring story, as he established himself as a player to remember and a business mogul, as well as some other unknown tidbits about his life.

Magic Johnson's Early Life

Magic Johnson was born as Earvin Johnson Jr. to Christine and Earvin Sr. in Lansing, Michigan, on August 14, 1959. Growing up, Johnson had six siblings and three half-siblings from his father's previous marriage. Johnson was very much inspired by his parents working day and night to bring food to the family's table. His father used to do janitorial work at a used car lot and collected garbage while also working his shift as an assembly worker at General Motors. Johnson used to help his father on the garbage route, which led to him being teased by the neighborhood children who called him ‘Garbage Man.’

Johnson found his love for basketball by idolizing legends such as Bill Russell, Earl Monroe, and Marques Haynes. Johnson looked forward to playing high school basketball for Sexton High School, a predominantly black school which was just five blocks from his home. However, when he learned he would be attending the predominantly white Everett High School, he felt all of his hopes and aspirations came crashing down.

Describing this experience in his autobiography My Life, Johnson wrote, “As I look back on it today, I see the whole picture very differently. It's true that I hated missing out on Sexton. And in the first few months, I was miserable at Everett. But being bused to Everett turned out to be one of the best things that ever happened to me. It got me out of my own little world and taught me how to understand white people, how to communicate and deal with them.”

Magic Johnson's Personal Information

Magic Johnson's life is filled with inspiring anecdotal references, stories, and narratives, which are extremely inspiring for every hoops fan to read. While this article attempts to cover the Showtime Lakers legend's life comprehensively, the table below will give you an overview of his life in a nutshell.

Magic Johnson's Personal Life

Magic Johnson is much more than basketball; his life lesson is a continued dedication to faith, family, and advocacy. For instance, Johnson has been married to Earlitha "Cookie" Kelly since 1991, has a son EJ Johnson who is a current television personality with a fabulously outrageous style aesthetic, and a son Andre from a previous relationship. Johnson has received a tremendous amount of media coverage about his personal life, and one of the biggest media stories was when he told the world that he was HIV positive in 1991, this event set in motion his public advocacy for HIV/AIDS prevention awareness. Having identified himself as a Christian, Johnson has said that he looks back and finds himself in the family and the faith rather than the money. This is commendable. Furthermore, Johnson takes family as a personal priority and an obligation and plays a significant role with regard to community development in various ways, both through the Magic Johnson Foundation, his educational and health initiatives, and community development work. Johnson's family and personal life convey demonstrate genuine dedication to family, love, acceptance, caring, and creating a positive change in the lives of others, especially in the lives of at-risk people in disadvantaged communities.

Magic Johnson Parents

Magic Johnson's parents are Earvin Johnson Sr. and Christine Johnson in Lansing. Earvin Sr. was an assembly worker at General Motors, and Christine Johnson was a school janitor. Christine used to spend many hours after work cleaning the house and cooking meals for the family. On the other hand, Earvin Sr. used to take up extra janitorial work at a used car lot and collected garbage while never missing a day at his day job at GM. Both his parents were involved in playing basketball, given Earvin Sr. played high school basketball at his home state of Mississippi.

Magic Johnson Wife

Magic Johnson's wife is Earitha “Cookie” Johnson (nee: Kelly) since 1991. The couple married in a small wedding in Lansing, Michigan. Cookie Johnson has always been a pillar of support for Johnson, especially during his AIDS diagnosis in 1991. Johnson often posts pictures of himself and his wife spending holidays together and has always credited her for loving and supporting him through his highs and lows.

Magic Johnson Kids

Magic Johnson had his first kid in 1981, son Andre Johnson, with Melissa Mitchell. Mitchell and Magic Johnson were separated, and Andre was mostly raised by his mother. Magic and Andre used to meet each other every summer, and later, Andre worked for his father's Magic Johnson Enterprises as a marketing director.

After marrying Cookie Johnson in 1991, the couple had a son Earvin III (EJ), who is proudly queer and a star on the reality show Rich Kids of Beverly Hills. Magic and Cookie Johnson also adopted a daughter, Elisa, in 1995. The family resides in Beverly Hills, California, and has a vacation home in Dana Point, California.

Magic Johnson Contract

Magic Johnson’s contract with the Los Angeles Lakers is one of the most iconic contracts in NBA history. At the age of 21, Magic signed a 25-year, $25 million contract with the Lakers in 1981. At the time, it was the longest and richest contract in professional sports history. Although the deal averaged out to 1 million per year, it was a hefty salary in the early 1980s. At the time, Lakers owner Jerry Buss regarded Magic as a long-term player, ambassador, and looked forward to the day Johnson might become a front-office staff member. Johnson did not fulfill all of the original 25 years as a player, but Magic's contract was a symbol of a high level of trust with the Lakers organization, even after he was diagnosed with HIV in 1991 and left the active roster. Johnson was a vital part of the Lakers franchise even after retiring again in 1996, later transitioning to financial and business operations.
This contract set a new standard, opening up the mentality to allow players to go after security for the long term as an alternative to short-term contracts. Magic Johnson’s contract displayed more than money; it conveyed the impact of his presence and the vision the Lakers had for him. To this day, despite the years that have gone by, it continues to signal commitment.

Magic Johnson's Salary

Magic Johnson's salary was viewed as astronomical when he played. In 1984, Magic signed with the Los Angeles Lakers for a 25-year, $25 million contract, a new phenomenon at that time, and even today. The contract gave him an average salary of $1 million per season, making him, at the time, one of the better-paid athletes. Also, the contract was the longest signing in NBA history at that time, and it showed how much the Lakers wanted him.
Before the contract, he was earning almost $500,000. Magic may not have played out the whole term of 25 years, but it certainly showed he was a priority with the Lakers for a lengthy tenure. When he returned in 1996, the last game of the 1995-96 season to finish that year, he had not played for five years and had earned a pretty decent amount for being on the inactive list for several years.
As far as total salary, Magic earned in his NBA career, he earned approximately $40 million. Compared to players today, it might seem like a small amount, but to players playing in the 1980s and early 1990s, that was a lot of money worth playing for. The contracts of today stem from the earning potential that Magic and others showed.

Magic Johnson Net Worth

As per Forbes, Magic Johnson's net worth is estimated to be around $1.5 billion as of 2025. He is one of the four billionaire athletes in the US, alongside Michael Jordan, LeBron James, and Tiger Woods.

It's interesting to note that Johnson earned only around $40 million from his Lakers contract in the ‘80s. At the peak of his career, he only earned around $2 million and $4 million per year in endorsements.

Johnson made some smart business moves early in his career and earned through joint venture partnerships. Johnson’s business acumen was quite impressive, given that he had investments in everything, ranging from movie theaters, Starbucks franchises, real estate, and healthcare.

A majority of Johnson's wealth comes from a 60% ownership stake in the life insurance company Equitrust. The venture has grown from $16 billion in assets under management to $26 billion since Johnson took over in 2015.

Johnson also owns minority ownership stakes in the NFL team Washington Commanders, MLB's Los Angeles Dodgers, WNBA's Los Angeles Sparks, and MLS's Los Angeles FC.

Magic Johnson Career

Magic Johnson's professional basketball career in the NBA spanned more than two decades. Johnson was also part of the famed Dream Team of 1992, which went on to win gold in the Barcelona Olympics. This section elaborates on Johnson's basketball career, starting from high school to becoming a legend of professional basketball.

Magic Johnson High School Career

Magic Johnson played high school basketball for Everett High School in Lansing, Michigan. Though he wanted to play for Sexton High School in the same city, he made his peace playing for Everett and became one of the most promising high school prospects of his time. As a sophomore, Johnson recorded a triple-double of 36 points, 18 rebounds, and 16 assists, and was dubbed as ‘Magic’ for the first time at the age of 15.

As a senior, Johnson led his high school to a 27-1 record and won the state championship game in an overtime victory. He was averaging 28.8 points and 16.8 rebounds at that time and was considered the best high school player to ever come out of Michigan. Johnson was named to the inaugural McDonald's All-American team and finished his high school career with two All-State selections.

Magic Johnson College Career

Magic Johnson had offers to join top D1 colleges such as Indiana and UCLA. However, he chose to stay close to home by committing to Michigan State in East Lansing. His decision to join Michigan State was influenced by coach Jud Heathcote reassuring Johnson that he could play as a point guard for the Spartans. Furthermore, the budding talent on Michigan State's roster was enticing enough to draw Johnson's attention.

Initially, Johnson had no plans of becoming a professional basketball player; instead, he wanted to focus on his communication studies major and become a TV sports analyst. However, the future NBA champion was filled to the brim with talent, averaging 17.0 points, 7.9 rebounds, and 7.4 assists as a freshman. He led the Spartans to a 25-5 record, consecutively winning the Big Ten Conference and reaching the Elite Eight in the 1978 NCAA Tournament. However, the Michigan State Spartans faced a major upset to the eventual national champion Kentucky in the knockout rounds.

The Spartans once again qualified for the NCAA tournament in the 1978-79 season and faced Indiana in the championship game. This is where Johnson faced Indiana senior Larry Bird, who would eventually become his rival in the NBA. The championship game between Indiana and Michigan State was the most-watched college game of that time, setting a precedent for one of the greatest individual rivalries in sports history. Johnson led the Spartans to victory and was voted the Most Outstanding Player of the Final Four. He declared for the 1979 NBA Draft and was selected as the first overall pick by the Los Angeles Lakers.

Magic Johnson Professional Career

Magic Johnson entered the 1979 NBA Draft as one of the most touted prospects in college basketball. Johnson was drafted as the first overall pick by the Los Angeles Lakers and was extremely hyped to play alongside Kareem Abdul-Jabbar.

Johnson immediately made an impact as a rookie, averaging 18.0 points, 7.7 rebounds, and 7.3 assists per game. He was selected to the All-Rookie Team and was named an All-Star starter to tip off his rookie regular season. Leading to the 1980 post-season, Johnson helped the Lakers reach the NBA Finals against the Philadelphia 76ers. In Game 6 of the series, Johnson even played as a center and posted 42 points, 15 rebounds, 7 assists, and 3 steals to clinch the series in six games. He became the only rookie to win the Finals MVP award and was lauded for his clutch performance.

In 1981, Johnson signed a 25-year, $25 million contract with the Lakers, which became the highest-paid sports contract of that time. This contract is equivalent to $86,000,000 in 2025, if adjusted for current inflation.

With the Lakers, Johnson won five NBA championships and was named the league MVP thrice in 1987, 1989, and 1990. Most of Johnson's Finals showdowns were against Bird's Boston Celtics, which spurred a new era of dominance and prosperity for the league. Despite their on-court rivalry, Bird and Magic were the best of friends off-court and maintained an incredibly healthy dynamic as contemporaries in the league.

Magic was best known for his game IQ and playmaking skills. He pioneered no-look and bounce passes in a way that revolutionized the role of a point guard in the new, evolving dynamic of the league.

Johnson's career was about to see a major turnaround when he announced he had tested positive for HIV-AIDS on November 7, 1991. In the same press conference, Johnson declared his retirement, stating he would dedicate his life in spreading awareness about HIV and “battle this deadly disease.” Johnson also participated in the 1992 Olympics, playing alongside Hall of Famers Larry Bird, Charles Barkley, and Michael Jordan to win the Gold medal.

One of the most interesting tenets of Johnson's career is that he even served as a coach for the Los Angeles Lakers during the 1993-94 season. The Lakers were faring well at the start, winning five of their first six games under Johnson, but went on to lose the next five games. Following such a debacle, Johnson resigned as a coach, with Johnson's final record as a head coach being 5-11. He instead chose to purchase 5% share of the team, stating it was never his dream to be a coach.

At the twilight of his career, Johnson spent a brief period in 1999 playing for the Swedish team M7 Boras. He was also a co-owner of the club before the franchise was forced into reconstruction after just one season. He was also part of the Danish team, The Great Danes, around the same time.

Here is a brief overview of Magic Johnson's career stats in the NBA:

Magic Johnson Shoes

After Magic Johnson declared for the NBA Draft after college, a lot many shoe companies vied to sign him. The two most prominent brands that wanted him to endorse their products were Nike and Converse. While Converse offered Johnson $100,000 for the shoe deal, Nike was a relatively new company that could only offer stocks in exchange for a young Johnson's signature.

Of course, Johnson took the easier route and signed with Converse. Through most of his career, Johnson donned the Converse Weapons in purple and gold colorway, suiting the Lakers' colors. However, Johnson admits that he regrets missing out on Nike's offer, realizing he could have pocketed around $5 billion for himself had he agreed to Phil Knight's initial offer.

Magic Johnson Jersey

Magic Johnson wore the jersey number 32 throughout his career playing for the Los Angeles Lakers. When he was playing college-level basketball for Michigan State, he used to wear the jersey number 33. Both his jersey numbers have been retired by the Lakers and the Michigan State Spartans in honor of his contributions to both teams' storied histories.

Magic Johnson Awards and Achievements

Magic Johnson's career has been filled with accomplishments and laurels, which justify his status as a legend in the league. Throughout his career playing professional basketball, Johnson has won 15 major trophies, starting from his tenure at high school to playing at the highest level in the NBA. Johnson also has a number of individual accolades to rest his case in the NBA history books. Here is a table that details the accolades Johnson earned over the course of his career:

How Many Rings Does Magic Johnson Have?

Magic Johnson has won five NBA championships in 1980, 1982, 1985, 1987, and 1988, respectively, with the Los Angeles Lakers. With him being on the team, the Lakers were at one of the most dominant phases of their history. The team was dubbed the ‘Showtime Lakers,' given that Magic and the other players indeed put on a show for the Hollywood crowd and for prime time TV.

The Lakers' title campaigns in the ‘80s were incomplete without their rivalry with the Boston Celtics. Larry Bird and Magic Johnson’s Finals showdowns were a treat for the NBA fans of that decade. In the three Finals they have faced each other, Johnson holds a 2-1 record against Bird.