Former basketball star Magic Johnson has become only the fourth professional athlete to be included in the exclusive billionaires club, with a net worth of $1.2 billion, according to the latest calculations by Forbes magazine. Following a “lucrative post-basketball career as an investor”, Johnson, 64, joins fellow basketballers Michael Jordan, who has a net worth of $3 billion, and LeBron James ($1 billion) and golfer Tiger Woods ($1.8 billion) in the club, Forbes said. Jordan sold his majority stake in the Charlotte Hornets basketball team in August. Before the sale, Jordan’s net worth was $2 billion. Meanwhile, Johnson has stakes in the Washington Commanders football team, women’s Los Angeles Sparks basketball team, baseball’s Los Angeles Dodgers and the Los Angeles Football Club, which has been valued at $1 billion.

Source: Forbes October 30, 2023 09:56 UTC