After playing 13 seasons in NBA with the Los Angeles LakersMagic Johnson continued to thrive off the field, transforming into a successful businessman with a net worth of $1.5 billion.
Johnson owns several businesses in food, real estate, healthcare and entertainment. According to ForbesMuch of his wealth comes from his stake in the life insurance company Equitrust, which has assets worth $27 billion.
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The Lakers icon also became a sports team owner. He has stakes in teams such as the Washington Commanders (NFL), Los Angeles Dodgers (MLB), The Sparks of Los Angeles (WNBA) and Los Angeles FC (MLS).
NBA legend Magic Johnson attends a ceremony.© Kyle Terada-Imagn Images
That being said, Johnson recently received some exciting news after Forbes named the Sparks one of the most valuable women’s sports teams of 2025. The Los Angeles franchise ranked 13th with a valuation of $235 million, making them the eighth most valuable WNBA team.
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However, when Johnson shared the news, he couldn’t help but point out how Forbes listed in error Eric Holoman as team owner. Holoman is the managing partner and governor of the franchise, but he is not the majority owner, as the NBA great clarified.
“Forbes published an article on the most valuable women’s sports teams in the world on December 17th and it was our Los Angeles Sparks!” Johnson wrote on X about Forbes’ valuation.
“They have Eric Holoman listed as an owner, but our majority owner of the Sparks is Mark Walter and his partners include me, Todd Boehly, Robert Patton, Stan Kasten and Billie Jean King. Mark Walter put Eric in place to run the organization.”
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It should be noted that Mark Walter and Johnson led the group that purchased the franchise from the WNBA in 2014.
Forbes has since made the change in its article, now naming Walter as the owner of the Sparks.
Despite this mistake, Johnson certainly has every reason to be pleased with the Sparks’ growth to become one of the most valuable women’s sports teams today.
Related: NBA Legend Magic Johnson Sends Message About LeBron James’ Agent Rich Paul
This story was originally published by Athlon Sports on December 28, 2025, where he first appeared in the WNBA section. Add Athlon Sports as Favorite source by clicking here.
