Few athletes have made as successful a transition from the basketball court to the boardroom as Magic Johnson. Beyond his storied career with the LA Lakers, Johnson has built a business empire worth billions, gaining recognition as both an NBA Hall of Famer and a business mogul. His influence extends beyond his own ventures; Johnson’s business insights have also guided other athletes, including San Antonio Spurs legend Tony Parker, who credits Johnson’s advice for jumpstarting his entrepreneurial path.
Tony Parker, with an estimated net worth of $85 million, recently shared how a single piece of advice from Johnson had a lasting impact on his off-court success. In a conversation on the ‘Winning Minds by Oscar Bruel’ podcast, Parker recalled meeting Johnson at age 23 to discuss business. “He gave me great advice,” Parker said. “He told me, ‘Don’t wait until you retire to start building your network. Start now, while you’re still active, because people want to connect with you now. Once you retire, they might forget.’”
Taking Johnson’s advice to heart, Parker began developing his business network while still playing in the NBA, launching ventures including ASVEL Basket, a top French basketball club where he serves as president. ASVEL has flourished under Parker’s leadership, partnering with major brands like Nike.
In 2015, Parker announced plans for a basketball academy in Lyon, and by 2016, he and his partners unveiled a new arena in Villeurbanne, seating over 5,500 fans. He also became the majority shareholder of Lyon Basket Féminine, now known as ASVEL Féminin, in 2017.
Reflecting on his journey, Parker said, “While I was playing, I focused on building my network and meeting with CEOs. I didn’t attend school for long, so I wanted to learn from people around me. I soaked up knowledge like a sponge, and by 26, I was ready to invest in a basketball team. I bought the men’s and women’s teams, built an academy, and when I retired, the transition was seamless.”
Magic Johnson’s own success in business is legendary. In addition to founding Magic Johnson Enterprises, the NBA icon has made significant investments in sports. His 2012 purchase of the Los Angeles Dodgers for $2.15 billion was a landmark decision. Johnson also has stakes in the WNBA’s Los Angeles Sparks, the NFL’s Washington Commanders, and, most recently, the NWSL’s Washington Spirit.
With a net worth of $1.2 billion, Johnson’s journey offers a model for athletes like Parker, illustrating the power of strategic investment and timely networking.
