Johnson acquires control of EquiTrust Life Insurance Company
Yahoo Sports • 1 min read • Latest: Aug 29, 2026, 11:19 PM
Last updated Aug 29, 2026
Magic Johnson has purchased control of EquiTrust Life Insurance Company from Guggenheim Partners, a group that previously helped him enter the baseball realm. Johnson's fortune, primarily attributed to EquiTrust, marks a significant evolution in his business ventures beyond his NBA career. His control over the insurance firm follows a notable rise in his wealth, with Forbes declaring him a billionaire in 2023. Guggenheim Partners will continue managing EquiTrust's investments after the transaction.
- •Magic Johnson has acquired EquiTrust from Guggenheim Partners.
- •Johnson is attributed as a billionaire largely due to EquiTrust.
- •Guggenheim will manage EquiTrust's investments post-sale.
- •Johnson earned around $40 million during his NBA career.
- 11:19 PMYahoo Sports — Johnson bought control of it from the same group that …
"Johnson bought control of it from the same group that …
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