NBA Legend Magic Johnson Makes Personal Announcement on Thursday

On Thursday, Johnson took to social media to share personal news about the company: Christina M. Francis, the company’s president, is stepping down after 12 years of leadership.

“Christina M. Francis will be stepping down as president of Magic Johnson Enterprises after 12 incredible years of leadership. Christina and I have worked together for almost 25 years, and I want to thank her for everything she has done for me and for helping grow Magic Johnson Enterprises.

Cookie and I are excited to see what Christina’s next chapter holds and wish her all the best in the journey ahead.”

Magic Johnson is an NBA Hall of Famer, five-time NBA champion, three-time MVP, Olympic gold medalist, and 12-time All-Star. But once his playing days were over, he made it a priority to maximize his life off the court—and he has done exactly that in the business world.

Johnson owns minority stakes in both the Los Angeles Sparks and the Los Angeles Dodgers, and he was spotted front row on Wednesday night as the Dodgers hosted the Cincinnati Reds in the NL Wild Card round of the MLB postseason.

Continuously growing his empire, Johnson is now worth nearly 30 times more than what he earned during his playing days in the 1980s and ’90s, making him one of the few former athletes to reach billionaire status.