What Franchises Does Magic Johnson Own?

Magic Johnson, an iconic NBA player, left Michigan State University after his sophomore season to go play with the Lakers. So, when he retired in 1996 after 13 seasons in the NBA, he remained involved in the basketball space while also pursuing other forms of entrepreneurship and working diligently as an HIV/AIDS activist. In 2015, Johnson received an honorary doctor of business degree from Xavier University of Louisiana.

Now, he has a net worth of around $620 million, and in 2020, his investment firm had holdings worth an estimated $1 billion.

In addition to Marvel, Jopwell, the Los Angeles Sparks, Cigna and more, Johnson is involved in the following franchises.

Photo credit: Magic Johnson’s T.G.I. Friday’s

T.G.I. Friday’s

With over 850 restaurants in 55 countries, Fridays™ is known for its burgers, steaks and potato skins. In 1998, Johnson entered an agreement to develop a Magic Johnson’s T.G.I. Friday’s restaurant, in partnership with Carlson Restaurants Worldwide Inc.

Burger King

In 2004, Johnson announced that his company would be buying 30 Burger King locations in Georgia, Alabama, Texas and Florida.

“With these restaurants, we expect that, as time passes, new jobs will be created and relationships with minority contractors will be strengthened in these four important cities,” Johnson said in a statement.

According to FranchiseWire, Johnson’s Burger King restaurants were established in underserved communities but saw a traffic increase — and consequential average sales increase of 20% — thanks to the celebrity’s association.