Magic Johnson Buss had given Johnson a contract that paid him $14 million a year, as payback for all the years he was not the league's highest paid player. Although Johnson's retirement prior to the 1992–93 NBA season voided this contract, Buss insisted that he still be paid. It was this arrangement that allowed Johnson to coach the team without receiving any additional salary. After Johnson ended his coaching stint, Buss sold him a 4% stake in the Lakers for $10 million, and Johnson served as a team executive. Johnson's autobiography is Other biographies include: Magic Johnson Earvin "Magic" Johnson Jr. (born
Magic Johnson to him. Johnson learned everything he could about business, often meeting with corporate executives during road trips. Johnson's first foray into business, a high-end sporting goods store named Magic 32, failed after only one year, costing him $200,000. The experience taught him to listen to his customers and find out what products they wanted. Johnson has become a leading voice on how to invest in urban communities, creating redevelopment opportunities in underserved areas, most notably through his movie theaters and his partnership with Starbucks. He went to Starbucks CEO Howard Schultz with the idea that he could successfully open the