Basketball icon Magic Johnson has been declared a billionaire by Forbes.
Johnson recently revealed he passed on an early chance to buy Nike shares that could've netted him billions.
AdvertisementAdvertisementForbes magazine has declared basketball star Magic Johnson a billionaire, decades after he lost out on a Nike deal that could have netted him $5 billion.
The Nike deal would've seen Johnson paid $1 for every pair of trainers sold and 100,000 shares in company stock.
Back then, Nike shares were worth around 18 cents each, while today they are valued at around $100, so a shares deal would've been hugely more profitable long term.
Persons:
Magic Johnson, He's, Johnson, could've, —, Earvin Johnson, would've, Forbes, Johson, MLB's, Michael Jordan, LeBron James, Tiger Woods
Organizations:
Forbes, Nike, Service, LA Lakers, Converse, Sparks, MLB's Los Angeles Dodgers, MLS, PepsiCo, NBA
Locations:
Iowa