From Court to Corporation: The Power of Magic Johnson's Business Empire

(BBR LA) Earvin "Magic" Johnson is a name synonymous with basketball, having played for the Los Angeles Lakers for 13 seasons and winning five NBA championships. But what many may not know is that he has also built an impressive business empire outside of the court. Magic Johnson is a successful entrepreneur with business ventures spanning across various industries. Here's a closer look at some of his notable business ventures.

1. Magic Johnson Enterprises: In 1987, Magic Johnson founded Magic Johnson Enterprises (MJE), a company focused on investment in urban communities. The company has invested in various industries such as real estate, media, and sports. MJE has also formed partnerships with major brands such as Starbucks, AMC Theatres, and T.G.I. Friday's.

2. Starbucks: In 1998, Johnson became the first franchisee for Starbucks in urban areas, opening his first location in South Central Los Angeles. He went on to own and operate 125 Starbucks locations across the US, generating over $1 billion in revenue.

3. Los Angeles Dodgers: In 2012, Johnson and his partners bought the Los Angeles Dodgers baseball team for $2.15 billion, making it the largest purchase of a North American sports franchise at the time.

4. EquiTrust Life Insurance Company: In 2015, Johnson acquired a majority stake in EquiTrust Life Insurance Company, a company that focuses on providing insurance and retirement solutions to middle-class Americans.

5. SodexoMAGIC: In partnership with Sodexo, Johnson created SodexoMAGIC, a food and facilities management company that provides services to school districts, healthcare facilities, and government agencies. The company has won contracts with major organizations such as the Los Angeles Unified School District and the US Marine Corps.

6. Aspire TV: In 2012, Johnson launched Aspire TV, a cable network that focuses on programming for African Americans. Aspire has partnered with various production companies to create original content such as "Exhale" and "Butter + Brown."

7. JLC Investments: Johnson has also formed JLC Investments, which focuses on investing in minority-owned businesses. The company has invested in various companies such as the Los Angeles Sparks of the WNBA, a line of health products from Simply Proven, and the video sharing platform, Unseen Heroes.

Magic Johnson has become an iconic figure both in basketball and business, and his success is a testament to his hard work, dedication, and entrepreneurial spirit. With ventures spanning various industries, he has made significant contributions to urban communities and has become an inspiration to many