Today he is Chairman and CEO of Magic Johnson Enterprises (MJE), which he founded in 1987. MJE provides high quality products and services that focus primarily on ethnically diverse and underserved urban communities through strategic alliances, investments, consulting and endorsements. The conglomerate is comprised of multiple business entities and partnerships that include three Capital Management Funds, with over $4 billion dollars in developed Real Estate and $2 billion dollars in committed capital, SodexoMAGIC, Magic Airport Holdings, 24 Hour Fitness Magic Sports Centers, T.G.I.F. Fridays Restaurant, Best Buy, and the recently acquired Vibe Holdings, LLC - Mr. Johnson will serve as Chairman of the multi-cultural media company that houses the Vibe, Uptown, and Soul Train brands.
Most noted for his unprecedented Starbucks partnership, which served as the catalyst for redevelopment in urban communities and is literally the blueprint for Corporate America’s engagement and success with urban consumers. In 2010, the savvy businessman divested his Starbucks and Los Angeles Lakers shares for over $100 million dollars. However, he will continue to assist Starbucks with their community development initiatives and will remain Vice President of the Los Angeles Lakers.
Mr. Johnson also serves as Chairman and Founder of the Magic Johnson Foundation, where his unwavering commitment to transform Urban America is continued through HIV/AIDS Awareness & Prevention Programs, Community Empowerment Centers, and the Taylor Michaels Scholarship Program. Approaching their 20th anniversary, the Magic Johnson Foundation has become one of the most recognizable philanthropic organizations around the world.
Mr. Johnson is ecstatic about his newly formed partnership with Tim Lieweke of AEG, they will diligently work together in an effort to build a new Stadium and bring an NFL team back to Los Angeles.