Magic Johnson recently appeared on The Ellen Show to discuss his son's coming out, to share his advice for other parents, and to reveal that he's still kicking himself about not taking Nike stocks when he had the chance.
As Magic explained during his interview with Ellen, when he was coming out of college Nike was still a relatively unknown brand so when Phil Knight approached him to sign with The Swoosh they couldn't really compete with major brands like Converse, whom Magic ultimately signed with.
Magic recalled his meeting with Phil Knight, and how he's still kicking himself to this day for not taking advantage of that stock option.
“All the other companies offered me money, but [Nike] couldn’t offer me money because they just started. So he said something [about] stocks —- ‘I’m gonna give you a lot of stocks.’ I didn’t know nothing about stocks. I’m from the inner city, we don’t know about stocks” Magic said to Ellen.
“I’m still kicking myself. Every time I’m in a Nike store, I get mad. I could’ve been making money off of everybody buying Nikes right now,” he said.
Check out a clip from Magic's appearance on The Ellen Show below.
