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Magic Johnson Is Only the Fourth Athlete to Achieve This Incredible Milestone

Elite athlete Magic Johnson has ascended to another sports aristocracy as he becomes only the fourth member to rise to the ranks of billionaire status. Find out who Johnson joins.

4 Legendary Athletes Who Have Achieved Billionaire Status

All four of these elite athletes dominated in their respective sports. However, it wasn’t their play in competition alone that built their net worth to billionaire status.

We’ll reveal who these athletes are, how they accumulated their wealth and their current net worth.

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Magic Johnson

Magic Johnson is the fourth and newest member of an aristocracy of current and former athletes to achieve billionaire status, according to Forbes’ Matt Craig and Brian Bushard.

As of October 2023, Johnson had an estimated net worth of $1.2 billion, according to Forbes. During his 13 seasons playing with the Los Angeles Lakers, Johnson earned $40 million ($110 million adjusted for inflation).

Another part of Johnson’s wealth comes from his minority ownership in several sports organizations including the Los Angeles Dodgers, Los Angeles Sparks, Los Angeles Football Club, and the Washington Commanders.

But where did most of Johnson’s fortune come from? He holds a majority stake in an Iowa-based life insurance company, called EquiTrust. Johnson purchased the stake in 2015. According to reports, EquiTrust holds approximately $26 billion in assets. The company pulls in an annual revenue of over $2.5 billion.

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Johnson also holds investments in Starbucks franchises, movie theaters, gyms, and cable networks.

Michael Jordan

Not only is NBA legend Michael Jordan the wealthiest athlete in history, he’s also among the 400 richest people in the United States, according to NBC.

A large chunk of his wealth comes from selling the Charlotte Hornets for approximately $3 billion. Jordan originally purchased the Hornets for $475 million in 2010, according to Clutch Points.

Jordan earned substantial income from lucrative endorsement deals such as Gatorade, Hanes, and especially Nike, totaling up to around $2.4 billion in pretax income.

According to an estimate by Forbes, Jordan’s salary during his career in the NBA totaled $90 million.

Tiger Woods

The net worth of golf legend Tiger Woods is currently estimated at around $1.1 billion. He is one of only two athletes to achieve billionaire status while still active in sports.

According to estimates, only ten percent of Tiger Woods’ total earnings in his career contributed to his fortune. Woods built his fortune through numerous lucrative endorsement deals. The brands include Nike, Rolex, Gatorade, and Monster Energy, according to Robb Report.

Woods achieved billionaire status in 2022, according to Forbes.

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Lebron James

NBA great Lebron James is the second athlete to achieve billionaire status while still active in professional sports. James’ current net worth sits at $1 billion. He has played in the NBA for 21 seasons and has earned roughly $479 million during his career.

James reached the $1 billion net worth market in 2022. He earned “upwards of $900 million in income from endorsements and other business ventures,” according to Forbes, Business Insider reported. This amount was in large part due to his Nike deal.