According to CBS News, Magic Johnson is the fourth athlete to achieve billionaire status, along with Michael Jordan, LeBron James, and Tiger Woods.
When Johnson signed a 25-year, $25 million contract in 1984, it was the longest and richest deal in sports history at the time. Johnson made approximately $40 Million during his 13-year career.
However, it was after retiring from the league that he would build his empire as chairman and CEO of Magic Johnson Enterprises, a conglomerate of businesses and ventures founded by Johnson. The company's primary focus is on business, philanthropy, and community development.
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