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Former basketball star Magic Johnson has been declared a billionaire by Forbes, making him only the fourth athlete to join the exclusive club

Entertainment

The business magazine estimates Johnson’s wealth at about $1.2bn (£990m). The other
athlete billionaires are NBA players Michael Jordan and Lebron James, and the golfer
Tiger Woods.
The 64-year-old Johnson, who made $40m from his NBA career has investments in
numerous companies including ownership stakes in various sports teams.
But Forbes says his stake in a life insurance company holds most of his wealth.

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