Earvin (Magic) Johnson, Jr. is Chairman and Chief Executive Officer of Magic Johnson Enterprises, a company with a successful portfolio of national franchises, including Starbucks, Burger King, 24 Hour Fitness, Washington Mutual Home Loan Centers, AMC/Magic Johnson Movie Theatres and T.G.I. Friday’s. Through targeted investments in key markets, Magic Johnson Enterprises franchise networks serve more than 32 million consumers annually in 163 locations in 19 states across the United States.
Magic Johnson Enterprises focuses on bring life back to the inner-city by creating jobs. “Creating black presidents, vice presidents, general managers, managers–that has been the best part,” says Johnson. In a Fortune magazine article he stated, “Kids look to ballplayers as idols, but BET founder Bob Johnson is my idol.” Earvin “Magic” Johnson’s net worth was estimated to be between $800 and $900 million by Fortune magazine in 2008. Forbes magazine estimated his net worth at $500 million in May 2009.