Former NBA and Michigan State University basketball legend Earvin ‘Magic’ Johnson looked back on 65 years of success Friday night at Lake Michigan College. And he advised young people in the audience that if they allow themselves to dream, they have an opportunity to achieve what he has achieved. Johnson is a billionaire investor in multiple fields of business.
Johnson is one of the most honored basketball players of all time as an MSU Spartan and later a Los Angeles Laker. He told his LMC audience he approached his basketball career differently than most athletes. He used it as an entry point for his lifetime career of helping others be successful—and thereby becoming immensely successful himself.
Johnson acknowledged that he grew up ‘poor’ in Lansing. However, because his parents emphasized education and hard work, he said, he didn’t have ‘poor dreams.’ When opportunities presented themselves through basketball, Johnson said he used those opportunities to learn about things other than sports, and particularly to meet and associate with people who were successful in business and who could mentor him.
He specifically mentioned Lansing businessman Joel Ferguson and then-Lakers owner Dr. Jerry Buss. Through those associations, Johnson said he became an entrepreneur and successful in business even while still playing NBA basketball. He cited owning 125 Starbucks Coffee locations and more than 30 Burger King restaurants early in his business career, then selling them at large profits to invest in other ventures, often facilitating inner city and urban development in the process.
While Johnson’s business interests are best known for his involvement with the Lakers, the baseball Dodgers and most recently the NFL Washington Commanders, he pointed out that his companies employ over 30,000 people and have become leaders in the redevelopment of America’s infrastructure, especially airports. Johnson cited recent major expansion projects at New York’s La Guardia and JFK airports and air cargo facilities in Los Angeles, totalling billions of dollars.
He pointed with pride to those projects emphasizing the use of suppliers, sub-contractors and vendors which are owned by veterans, minorities and women. Again, Johnson measures his success by how he helps such groups be more successful—as well as by traditional analysis of business: quality of work, profit and return on investment.
Johnson spent considerable time in his presentation focusing on young people in the audience, bringing several school children and teens to the stage to answer their questions and take photos with them. He proudly related that he and his wife have funded the college education of more than 10,000 students over the years.
Magic Johnson’s appearance was the first in this Fall’s LMC Speaker Series, which evolved from the former Economic Club speakers in prior decades. It was sponsored by Sturgis Bank and Michigan Pizza Hut.
Pizza Hut executive Bryan Joseph introduced Johnson and recalled their acquaintance of many years as Spartans, wearers of the green and white at MSU.
