By Malik A. Azeez
For over 30 years, Earvin “Magic” Johnson has been an entrepreneurial genius and transformative business owner. He is the Chairman and Chief Executive Officer of Magic Johnson Enterprises (MJE), founded in 1987, which is an investment conglomerate, with an estimated value of $1 billion dollars. Also, after retiring from The Los Angeles Lakers in the NBA, Mr. Johnson has been committed to having a lasting impact in underserved urban communities.
Johnson’s business motto is “We are the communities we serve”. Similarly, his business philosophy propels his investments and partnerships, which is: “it’s not whether you can become successful, it’s how many people can you help become successful”. Moreover, he believes that a great business should embody the fundamental values of accountability, excellence, over delivery and empowerment.
MJE is a business power-house that magicizes strategic partnerships and direct investments. Some of the strategic partnerships he has created, that are operating in 2019, include: The Canyon-Johnson Urban Funds (CJUF), Los Angeles Dodgers (Major League Baseball Team), The Oklahoma City Dodgers (Minor League Baseball Team), Los Angeles Sparks (Women’s National Basketball Association), and The Los Angeles Football Club (Major League Soccer). On April 18, 2018, the Banc of California Stadium opened, in Los Angeles, California, which is the home of the Los Angeles Football Club. Furthermore, CJUF is one of this country’s largest private real estate funds, whose primary purpose is the development of urban properties in underserved communities and has generated over $2 billion dollars.
Conversely, Magic Johnson’s direct investments are in infrastructures that advance Black businesses and other people of color, to revitalize diversity. Currently, these direct investments and life changing partnerships are the following: Uncharted Play (Toys and Electricity), Shot Tracker (Wearable Technology for Basketball Players), mitu (Latino Fueled Media Brand & Digital Network), Jopwell (Diversity and Recruiting Company), Walker and Company (Health & Beauty), Hero Ventures (The Marvel Experience), EquiTrust Life Insurance Company, ASPIRE (TV Network), Simply Healthcare, and Vibe Holdings (Magazine & TV). Lastly, Mr. Johnson’s guiding vision is that his brand is his greatest asset.
Today, MJE is a partner with The Great Hall Partners, who has created The Denver International Airport (DIA) Great Hall Project, in Denver, Colorado. This project will redesign the DIA for $700 million dollars and is scheduled to be completed in 2021. Still further, the redesign will update the security screening process, the infrastructure, the heating and cooling systems, as well as the escalators, elevators and restrooms.
In sum, Earvin “Magic” Johnson is an entrepreneurial genius and transformative business owner through his conglomerate business, Magic Johnson Enterprises. His business value is priceless, exuded in his magicized business structures, high quality direct investments, and great partnerships. Moreover, his unending commitment to service and his core values of excellence, accountability, over delivery and empowerment, has made him one of the greatest business owners in the world. Earvin “Magic” Johnson has written an outstanding book entitled, 32 Ways to Be a Champion in Business, 2008.