Magic Johnson has become the fourth billionaire among athletes

The legendary former basketball player Magic Johnson has become the fourth athlete in history to earn at least a billion dollars, as reported by the reputable financial publication Forbes. His current fortune is estimated at $1.2 billion.

At 64 years old, Johnson earned $39 million while playing with the Los Angeles Lakers, which concluded in 1996. Currently, he owns stakes in the football team, the "Los Angeles" team in American football, the "Washington Commanders," the women's basketball team "Los Angeles Sparks," and the baseball team "Los Angeles Dodgers."

Johnson's assets stem from a controlling stake in the EquiTrust insurance company. Additionally, he owns a chain of theatres, a network of coffee shops in predominantly African-American neighbourhoods, and a share in a Pepsi-Cola production plant.

Previously, basketball players Michael Jordan and LeBron James, as well as golfer Tiger Woods, became billionaires among athletes.