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In 1979, Magic Johnson says he turned down Nike stock to sign with Converse for $100,000 a year; he has said that stock would be worth $5 billion today

In 1979, Magic Johnson says he turned down Nike stock to sign with Converse for $100,000 a year; he has said that stock would be worth $5 billion today

mensjournal.com 20.10.2026 18:26 6 views
Magic Johnson says he passed on Nike stock in 1979 to take Converse’s cash. He puts its value today at $5 billion. Here’s the story.
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See how this story developed, hour by hour Uzbekistan, U.S. sign agreements worth $12 billion trend.az 20.10.2026 In 2003, Reebok offered an 18-year-old LeBron James a $10 million check on the spot; he turned it down, signed with Nike for $90 million, and later got a lifetime deal reported to top $1 billion mensjournal.com 18.10.2026
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