Magic Johnson has built something far bigger than a sports legacy since his NBA retirement. His business empire, Magic Johnson Enterprises, is a sprawling success story valued at roughly seven hundred million dollars. The company strategically focuses on bringing investments and services to underserved urban communities. This business philosophy turned the Hall of Famer into a billionaire.
A key figure in managing this vast portfolio has been Christina M. Francis, the company’s president. Their professional relationship spans nearly twenty-five years, beginning when Francis managed an endorsement deal for Johnson. He was so impressed by her that he offered her a job multiple times. “He just kept looking at me like, ‘Who’s this little thing running all over the place?’” Francis once recalled of their first meeting, highlighting his early recognition of her talent. Making the recent announcement by Johnson all the more personal.
Magic Johnson made a major announcement regarding his corporate leadership. He took to X and uploaded a tweet that revealed a significant departure from the top tier of his company. “CHRISTINA M. FRANCIS WILL BE STEPPING DOWN AS PRESIDENT OF MAGIC JOHNSON ENTERPRISES AFTER 12 GREAT YEARS OF LEADERSHIP,” Johnson wrote in his official post.
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Johnson used the announcement to express his deep gratitude for Francis’s long term contributions to his empire. “CHRISTINA AND I HAVE WORKED TOGETHER ALMOST 25 YEARS, AND I WANT TO THANK HER FOR EVERYTHING SHE’S DONE FOR ME AND TO GROW MAGIC JOHNSON ENTERPRISES,” he stated.
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He and his wife Cookie also shared their well wishes for Francis’s future endeavors. This leadership change marks the end of a defining era for the business that Johnson founded back in 1987. As of now, there is no publicly available announcement about who will be replacing her in the company’s top corporate leadership position.
Francis made history as the first female president of Magic Johnson Enterprises. Her leadership was instrumental in overseeing a diverse portfolio that includes stakes in the Los Angeles Dodgers and Los Angeles Sparks. Johnson’s personal net worth is now estimated at $1.2 billion, a figure that grew significantly during Francis’s tenure.
Her departure concludes a professional partnership that became a model for athlete driven business success. This executive shift comes as Johnson continues to manage an empire built on a core principle of creating opportunity.
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The Mission Behind The Billions
Magic Johnson’s investments are often strategic moves aimed at larger goals. A prime example is his landmark purchase of the Los Angeles Dodgers. He explained that a major driving force was representation. “Why did I do that, first of all there was no people of color being honored in Major League Baseball, that’s one reason,” Johnson has stated.
He also knew the Dodgers brand was a powerhouse, calling the investment a guaranteed home run.
The capital for that historic deal was fueled by another brilliant business move. Johnson had previously built a highly successful chain of Starbucks stores tailored to Black communities. He later sold his equity back to Howard Schultz for a reported one hundred million dollars.
“I used the money that came back to me from the Starbucks sale and put it into the Dodger deal,” Johnson revealed. That initial $2.2 billion purchase is now valued at nearly $7 billion.
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This community focused strategy applies even when profits are not immediate. Johnson recalled that his WNBA team, the LA Sparks, did not turn a profit for years. “Now, we’ve owned the Sparks for a few years. We haven’t made a dime,” he said at a recent event.
For him, maintaining ownership was about more than revenue. It was about keeping a seat at the table and supporting women’s sports, with the franchise now valued at $235 million.