With five NBA Championships, an Olympic gold medal and various MVP awards to his name, Earvin "Magic" Johnson will go down as one of the greatest basketball players of all time. But the former Laker may be remembered for his business skills as well as his signature hook shot.
Since retiring from basketball in 1991, Johnson has focused on building Magic Johnson Enterprises, a billion-dollar conglomerate he formed in 1987 that invests in a variety of companies and owns Burger King restaurants, health clubs and professional sports teams. From 1998 to 2010, Johnson's company owned more than 100 Starbucks stores.
The deal he struck with the former Starbucks CEO Howard Schultz "is what really stamped me as serious businessman," Johnson tells Maverick Carter in an episode of "Kneading Dough," presented by Uninterrupted. But the deal took work — and a bit of creativity.
Johnson wanted to bring Starbucks to the inner city, and he had to convince Schultz that his coffee shops would prosper there. His boardroom pitch wasn't enough to win Schultz over, so he changed his strategy and invited the CEO to one of the movie theaters he owned at the time.