@FrontOfficeSports Definitely dollar-wise but that was the one that really got him started. If I remember correctly, he bought a radio station which was sitting on a bunch of vacant land. He managed to sell the vacant land for the initial purchase price. In essence, he got the radio station for free. He even tried to get his teammates in on the deal but they passed on it. Between that and talking to the team owner about business, the business seed was planted
The thing to me is, if you invest and have other income outside of dividends then you will be able to live off dividends without selling. Which means you can pass that on to your kids which will give them a leg up in life. $40k dividends received in 2022.
I agree! That's why it is advisable that you have to invest while you still have a regular job or earning a regular income, and do it constantly. You still need to have something that will keep you going even if you're investing. Good financial planning and money allocation is the key.
I've been an investor in Apple, gold, housing market as well, because I strongly believe in them. I've always believed in the stock, but now I don't know if to re-distribute my portfolio and put some money in Nvidia or Tesla . especially now that we are experiencing a market correction.
Both stocks have a long term potential, The most important thing is the ratio of the distribution based on the financials of each company. There are many other companies that are also doing well. You could just hire a financial advisor to guide you. A financial advisor really does help me do the distribution even between different asset classes. I don't even understand technical financial terms much. I just know I make really good profit, and I don't have to stress myself a lot.
I've got similar problems and I have also considered using an FA but I don't know how to go about it. Please, what are the steps for getting one? Like a really good one.
His best business move was hanging around Jerry Buss. Learning by being around smart business people on someone else’s dime. His formula was different than Buss, but he had time to think & plan.
In the Los Angeles area, I believe he sold his interest in the TGIF restaurant (Ladera Heights), Magic Theater (now Cinemark in the Baldwin-Crenshaw Shopping District), and others to maximize his investment power. I had notice the mentioned businesses no longer have his name on it. Regardless, he is part of a growing trend, and a good one, for athletes and artists to expand their portfolio and break the trend of being broke outside of the limelight. I would like to see spotlighted like Simone Biles or rookies like Caleb Williams who I have heard starting his investment journey, so it would an interesting look.
Magic Johnson's biggest business move was very early on in his career, when he changed his mindset, from being a consumer to be become a producer, an owner, and to learn about investing. It is all about a particular mindset and actions related to furthering that end.
Can’t agree less. Mindset is crucial cos it could make you frugal and help you save to invest cos Warren buffet makes a lot of investment cos there is cash for it
This was a very educational video. It shows what athletes can achieve by investing their money. Also the Brand as Athletes seem to have played a small role in Magic's investment success, which reinforces his advice to Shaq. Building and Creating is much more profitable than Working, Athletes are glorified workers at the end of the day. Investing in itself is putting energy into a creation.
How in the hell did you forget SodexoMagic👀? That’s one of his biggest investment that made him a billionaire, the food service and concessions company for colleges and universities, stadiums, etc. Who is your editor📚? You’re trying to look all cute and smart on camera and forgot this very important milestone that even Forbes mentioned as why magic is a Billionaire 👀🏀💰🙏🏿.
there's more than 4 billionaire athletes, though... Ronaldo, Messi, Federer, Mayweather, Le Bron. Both Messi and Ronaldo are believed to have a higher than Magic as well
@@runnerboy999 Messi, Ronaldo, Federer, and Mayweather are all close but have not been valued as billionaires yet. Those first three are likely the next three though!
Loved him as a player, not so much now , he is a bit cocky now , he invests , cool , but be real his wealth is speculated ( bubbled) and he is used for his name by the real money as front man . Years ago people were raving he bought the dodgers, not so.
I think the Starbucks move because it opened a bigger market for both MJ and Starbucks. Hell if he didn't turn down Nike back in 80-81 that would've been his best move. He would've been a billionaire a long time ago.
Just show that outperforming s&p 500 is almost impossible, according to forbes his net worth currently 1.2B$ , its definitely lot of money but if he invested that 40M$ to s&p 500 he would worth around 1.05B$ PASSİVELY. His 33 year average return was 10.85% while s&p returned 10.6% , if forbes estimate is right he basically wasted 33 year for nothing.
