After playing 13 seasons in the NBA with the Los Angeles Lakers, Magic Johnson has continued to thrive off the court, turning himself into a successful businessman with a net worth of $1.5 billion.
Johnson has several businesses in food, real estate, health care and entertainment. According to Forbes, much of his fortune comes from his stake in the life insurance company Equitrust, which has assets worth $27 billion.
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The Lakers icon has also jumped into sports team ownership. He holds ownership stakes in teams such as the Washington Commanders (NFL), Los Angeles Dodgers (MLB), Los Angeles Sparks (WNBA) and Los Angeles FC (MLS).
NBA legend Magic Johnson looks on during a ceremony.© Kyle Terada-Imagn Images
That being said, Johnson received some exciting news recently after Forbes named the Sparks as one of the most valuable women’s sports teams of 2025. The L.A. franchise ranked No. 13 with a $235 million valuation, making it the eighth-most valuable WNBA team.
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However, when Johnson shared the news, he couldn’t help but point out how Forbes mistakenly listed Eric Holoman as the owner of the team. Holoman serves as the managing partner and governor of the franchise, but he’s not the majority owner, as the NBA great clarified.
“Forbes put out an article about the World’s Most Valuable Women Sports Teams on Dec. 17th and on that was our Los Angeles Sparks!” Johnson wrote on X about Forbes’ valuation.
“They have Eric Holoman listed as the owner but our majority owner of the Sparks is Mark Walter and his partners include me, Todd Boehly, Robert Patton, Stan Kasten, and Billie Jean King. Mark Walter put Eric in place to manage the organization.”
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It’s worth noting that Mark Walter and Johnson led the group that bought the franchise from the WNBA back in 2014.
Forbes has since made the change in their article, now naming Walter as the owner of the Sparks.
Despite the mistake, Johnson certainly has every reason to be happy with the growth of the Sparks into one of the most valuable women’s sports teams today.
Related: NBA Legend Magic Johnson Sends Message on LeBron James’ Agent Rich Paul
This story was originally published by Athlon Sports on Dec 28, 2025, where it first appeared in the WNBA section. Add Athlon Sports as a Preferred Source by clicking here.
