LA Lakers legend Magic Johnson has become the fourth former or current athlete to make the Forbes list of billionaires. The business publication announced that Johnson's fortune is about $1.2 billion.
Thus, the five-time NBA champion and three-time MVP of the League joins his colleagues LeBron James and Michael Jordan, as well as golfer Tiger Woods. These are the four athletes on the list of billionaires according to Forbes. The magazine notes that Magic Johnson has investments in multiple companies, but the bulk of his funds come from a stake in a life insurance company. He also co-owns three sports clubs based in Los Angeles. Johnson also has shares in Starbucks, Burger King and others. /BGNES
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