"I went and sat down with the Bloods and the Crips" - Magic Johnson hired gang members for his LA neighborhood businesses
His legacy as one of the all-time greats was further cemented, and he has also established a notable business record by making wise investments following his playing career. While many are impressed with the business skills of the Los Angeles Lakers legend, Earvin attributes his undeniable success to more than just his own efforts.
For example, when Johnson decided to enter the inner cities, he knew he would need the assistance of people from the neighborhood. Without hesitation, Magic contacted some of Los Angeles' most notorious gang members.
Johnson's plan was to build top-of-the-line facilities and start businesses that would appeal to the neighborhood's residents. Meanwhile, Magic also wanted to contribute to the community as a whole, and he thought the best way to do that was by involving everyone, including the local crime figures.
Jalen Rose spoke with the New York Post in an interview in 2021.
Magic picked the right people.
In order to start, continue to operate, and grow a business, these two elements are not just crucial, but absolutely necessary.
Ervin believed that a strong foundation built on guidance and teamwork could help any business achieve great success. Based on this conviction, the famous point guard made it a priority to surround himself with the right people.
Johnson understood that learning from Buss would give him extremely valuable insights and knowledge that could influence his approach to business.
Johnson vividly recalled.
In addition to seeking guidance from experienced mentors, Johnson focused on building a top-notch team to support him in his business ventures. He carefully chose the most skilled professionals to join him, making sure each one brought their own set of valuable skills and expertise to the table.
The careful selection of talent has been crucial to Johnson's business empire's success. His team remains a dominant force in the industry to this day.
And then I surrounded myself with a team. Michael Ovitz, who was probably the most powerful agent in the history of the industry, and who founded and built CAA, told me, 'Do you think you're the best basketball player?' I said yes. 'Then you need to surround yourself with the best people in every area, including the best managers, the best agents, and the best accountants - people who don't need your money.'
The Power of Talent, Charisma, and Networking
Johnson is famous for his incredible basketball abilities, but also for his charming personality and charisma, which have made him a beloved figure not only in the world of sports, but also beyond the NBA.
His charming personality and ability to connect with people of all kinds have helped him rise to the top of his field in the business world. As of 2025, Magic reportedly has an impressive fortune of $1.6 billion, a result of his smart business decisions and entrepreneurial talents.
The investments include stakes in professional sports teams, real estate holdings, insurance companies, technology companies, and many more.
In addition to his financial success, Johnson has also become a source of inspiration for people from all backgrounds, including those living in urban neighborhoods. His transition from being a famous basketball player to a successful entrepreneur serves as a powerful reminder that with hard work, determination, and the right support, anyone can reach their goals.
Johnson's business success story inspires many to set ambitious goals and work towards achieving them, making him a role model for future generations. His ability to partner with the right people also highlights the potential for collaborative efforts to lead to great accomplishments in both business and life.
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