Magic Johnson
Johnson runs Magic Johnson Enterprises, a conglomerate company that has a net worth of $700 million; its subsidiaries include Magic Johnson Productions, a promotional company; Magic Johnson Theaters, a nationwide chain of movie theaters; and Magic Johnson Entertainment, a film studio. In addition to these business ventures, Johnson has also created the "Magic Card", a pre-paid MasterCard aimed at helping low-income people save money and participate in electronic commerce. In 2006, Johnson created a contract food service with Sodexo USA called Sodexo-Magic. In 2004, Johnson and his partner Ken Lombard, sold Magic Johnson Theaters to Loews Cineplex Entertainment in 2004. The first Magic Johnson Theater located in the Baldwin Hills Crenshaw Plaza, closed in 2010 and re-opened in 2011 as Rave Cinema 15. In 2012, Johnson launched a cable TV network called Aspire, featuring programming targeted at black audiences, similar to networks such as Black Entertainment Television (BET) and TV One.