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 Enterprises and sold for $205 million. The fund also had a stake in Sunset+Vine in Hollywood, which was built for $125 million and sold for $160 millon. In the summer of 2006, the company made headlines for concluding a deal with Sodexo, one of the largest food services and facilities management companies in the world. The initiative includes a marketing agreement and the formation of SodexoMAGIC, LLC, a new joint venture that is 51 percent owned by Johnson. Magic Johnson Enterprises has also invested in Jopwell. Jopwell is a diversity hiring startup that helps companies connect with and recruit underrepresented ethnic