Additionally, does Magic Johnson own a bank?
The merger of Boston Bank of Commerce and Founders National Bank to form the third-largest African-American-owned bank is hardly a large deal: the combined institution has only $260 million in assets.
Simply so, how Magic Johnson got rich?
Johnson made a few million dollars during his 13-year NBA career, but the overwhelming majority of his wealth comes from being the owner of Piston Group, which bills itself as “the world’s largest value add assembly supplier.”
Is Magic Johnson part-owner of the Lakers?
Named by Ebony magazine as one of America’s most influential black businessmen in 2009, Johnson has numerous business interests, and was a part-owner of the Lakers for several years. Johnson also is part of a group of investors that purchased the Los Angeles Dodgers in 2012 and the Los Angeles Sparks in 2014.
As of 2021, Scottie Pippen has a net worth of $20 million, according to Celebrity Net Worth.
Magic Johnson Enterprises is a private company that owns or helps operate companies ranging from more than a dozen 24 Hour Fitness centers, more than 100 Starbucks locations, food service companies, a T.G.I. Friday’s in Los Angeles and other businesses across the country.
Minority Business Enterprise (MBE) Owned Business Definition
Eligibility for certification as a Minority Business Enterprise varies depending on the issuer but generally requires that a company be owned and operated by a member of a minority group such as African American, Native American, Asian or Hispanic American.
The Dodgers, who recently won the World Series, are said to be worth $3.4 billion now. Johnson owns a 2.3% stake in the team and had invested $50 million during the purchase.