A capsule look at Magic Johnson's $500 million empire.
?Shopping plazas in Las Vegas and Los Angeles.
?50% ownership, with Loews (which looks to emerge from bankruptcy next year), of movie theaters in Atlanta, Cleveland, Houston, Los Angeles and New York City. All rank among the top 100 theaters in the U.S. in gross sales.
?50% partnership in 26 Starbucks stores, with commitments to build 19 others. All 26 rank in the top 5% in sales in their regions. Magic is the only outsider to have a financial partnership with Starbucks. "Celebrities and other successful people frequently come to us looking to participate and leverage their status," says Howard Schultz, chairman of Starbucks Corp. "We always said no. But Magic had a vision, an idea, a genuine commitment to create a business in an underserved community that was both profitable and benevolent."
?50% partnership in a TGI Friday's restaurant in Los Angeles and another in Atlanta. There are also plans to open another 10 to 15 restaurants together within five years. The L.A. restaurant is one of the chain's top grossers.
? Magic Johnson Music, an R&B label, launched in conjunction with MCA.
?51% ownership—along with Janet Jackson and Gerald Busby, former chairman of Founders Bank—of Founders Bank of Commerce, which has assets of $300 million.
?Plans to build seven to 10 24-hour fitness facilities that will be called Magic Clubs.