Magic Johnson declared a billionaire by Forbes - BBC News

The former basketball star becomes only the fourth athlete to be declared a billionaire.

13 hours agoShareclose panelShare pageCopy linkAbout sharingImage source, ReutersBy George WrightBBC NewsFormer basketball star Magic Johnson has been declared a billionaire by Forbes, making him only the fourth athlete to join the exclusive club.

The business magazine estimates Johnson's wealth at about $1.2bn (£990m).

The other athlete billionaires are NBA players Michael Jordan and Lebron James, and the golfer Tiger Woods.

Johnson has investments in numerous companies including ownership stakes in various sports teams.

But Forbes says his stake in a life insurance company holds most of his wealth.

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