Forbes just anointed Earvin “Magic” Johnson a billionaire joining Michael Jordan, Tiger Woods, and LeBron James

Legendary Laker Earvin ‘Magic’ Johnson is now a Billionaire According to Forbes:

(LOS ANGELES, CA) Business News: Former Los Angeles Lakers Legend Magic Johnson is officially a billionaire, according to Forbes, making him the fourth athlete to attain the prestigious level of wealth.

Earvin Johnson, 64, renowned worldwide by his iconic nickname “Magic,” now stands alongside illustrious sports legends Michael Jordan, LeBron James and Tiger Woods on Forbes’ esteemed list.

The outlet reported Johnson’s estimated net worth stands at $1.2 billion

At 64, Johnson’s journey began on the basketball court, where he left his mark as an NBA star with the Los Angeles Lakers. He has since transitioned into the spheres of both sports and business, where his influence continues to grow and make significant impact.

The majority of his substantial fortune can be attributed to his controlling ownership of the EquiTrust insurance company, where, under his guidance for the past decade, the company’s assets have surged from $16 billion to $26 billion.

On the plus side, the combination of the two, which will be most apparent in their back-office operations, may lead to much better, faster delivery globally, more fun content on both sites (the Yoox chief executive, Federico Marchetti, calls the brand an “enter-tailer” — i.e., an entertaining e-tailer — while Net is more editorial in nature) and more personally tailored interaction.

The latter being, for me, the one eyebrow-raising bit of this marriage of equals.

After all, just think about the customer information now available to the group, which between the main sites (yoox.com and netaporter.com) and their fully owned brethren (theoutnet.com, mrporter.com, shoescribe.com and thecorner.com) will have a giant foothold in beauty, men’s wear, women’s wear, sale shopping and shoe shopping.