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Magic Johnson is now a billionaire, according to Forbes. Johnson, who is 64, becomes the fourth athlete to earn billionaire status on the Forbes list, following Michael Jordan, LeBron James and Tiger Woods.Forbes says J stanley cup ohnson made $40 million playing in the NBA, but most of stanley cup his wealth doesn t come from basketball. Johnson s career as a businessman took flight with savvy investments in the Los Angeles Lakers and Starbucks. He is now the chairman and CEO ofMagic Johnson Enterprises. Magic Johnson played 13 seasons in the NBA, all with the Los Angeles Lakers. stanley cup Getty Images Johnson played 12 seasons with the Lakers from 1979 to 1991, then retired abruptly after he was diagnosed with HIV. Johnson returned for one more season in 1995 before retiring again. In 1994, Johnson bought a 4.5% stake in the Los Angeles Lakers for $10 million, which he sold in 2010, right before NBA team values exploded. Forbes estimates that Johnson s stake in the Lakers in 2010 was worth $29 million, but his stake today would be worth more than $265 million.In another of his early business ventures, he teamed up with Sony Pictures to launch Magic Johnson Theaters. And in 1998, Johnson established a 50/50 joint venture with Starbucks to open more than 100 locations in Black neighborhoods around the country. By 2010, he sold the locations back to the company Zbtw After Facebook staff walkout, Zuckerberg defends no action on Trump posts
The billionaire CEO of Salesforce, Marc Benioff, and his wife, Lynne Benioff, have donated $30 million to fund research efforts looking into the root causes of homelessness and ways to end it. The gift was made to the University of Calif af1 ornia San Francisco UCSF , which will launch the first-of-its-kind initiative,the school announced Wednesday.Mr. Benioff said in a statement that the world needs a North Star on the truth on homelessness. His namesake initiative, which will come with a new research c adidas originals enter in San Francisco, will provide resources to help solve the crisis. The UCSF Benioff Homelessness and Housing Initiative will be that North Star, providing the latest research, data and evidence-based solutions to ensure we re investing in programs that will help solve the homelessness crisis, he said. The Benioffs contribution is the largest-ever private donation to fund homelessness research, UCSF said. Benioff has a net worth of approximately $6.7 billion, according to Forbes.The university said the initiative will bring experts from various fields to conduct academic research on homelessness and housing issues, identify evidence-based solutions, and train the next generation of homelessness researchers. It will complement research already being done at UCSF. In addition, the world-class academic research will be made easily accessible for policy makers and adidas samba community leaders across the country.