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Top 10 Celebrity Entrepreneurs

AllBusiness Editors
Slideshow Starting a Business

Magic Johnson: Magic Johnson Enterprises

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He shoots! He scores! NBA legend Earvin "Magic" Johnson, the twice-retired legendary point guard for the L.A. Lakers, has also been making magic off the courts as chairman and CEO of Magic Johnson Enterprises. Founded in 1987, the privately held MJE focuses on developing businesses in ethnically diverse urban areas. "You need to play to your strengths," Johnson told USA Today. "My strength is urban America." His company either owns, partners with, or invests in well-known companies across the county, including 24 Hour Fitness, T.G.I. Friday's, and, up until October, Starbucks. In 1991, Johnson -- who is HIV positive -- also founded the Magic Johnson Foundation, a nonprofit public charity that funds HIV/AIDS education and prevention programs, provides college scholarships for minority students, and other community-based initiatives. "Doing business and giving back really go hand in hand. It's the best way to truly create a win-win situation for everyone," Johnson says on his website.

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