Former professional basketball star Magic Johnson has been declared a billionaire by Forbes - becoming only the fourth sportsperson ever to join the elite club. The wealth magazine estimates Johnson is worth around $1.2bn (£990m). He joins fellow former NBA players Michael Jordan and LeBron James, and golf star Tiger Woods, in reaching the billionaire benchmark. Johnson made his initial millions playing professional basketball in the 1980s and 1990s, but retired from playing in 1996 following his HIV diagnosis. He has stakes in a number of LA sports teams, including the Women's NBA squad Los Angeles Sparks, baseball franchise Los Angeles Dodgers and football's LAFC.

Source: Forbes October 30, 2023 11:52 UTC