Does Magic Johnson own Starbucks? Coffee chain's stand against BLM apparel sparks backlash

Global coffee chain Starbucks has recently received heavy criticism after it was revealed that the company did not let employees wear Black Lives Matter clothing or accessories. As per reports, the company wanted to 'create a safe and welcoming' environment for their customers. Many people called out the Starbucks Black Lives Matter policy, unhappy with their decision.

NBA fans on Twitter connected the franchise to NBA legend Magic Johnson, who reportedly owns some Starbucks locations. This caused fans to ask 'Does Magic Johnson own Starbucks?' and 'How many Starbucks does Magic Johnson own?'. Fans even discussed what would happen if Johnson still owned stakes and if they would still make the decision. Here is more info on the queries - 'How many Starbucks does Magic Johnson own?' and 'Does Magic Johnson own Starbucks stores?'

Also read | Lakers legend Magic Johnson's new feature-film documentary in the works

Magic Johnson and Starbucks Black Lives Matter: Does Magic Johnson own Starbucks? How many Starbucks does Magic Johnson own?

Does Magic Johnson own Starbucks?

While Magic Johnson owned Starbucks stores, he sold his 105 Starbucks franchises back to the company in 2010. As per the Los Angeles Times, Johnson was looking to invest in sports after some time. Before he sold the Starbucks stores, he had also sold his 4.5 percent ownership stake in the Los Angeles Lakers to Dr Patrick Soon-Shiong. People asked 'How many Starbucks does Magic Johnson own?' on Twitter as many fans believed the Lakers legend would have spoken against the Starbucks Black Lives Matter movement. Many fans pointed out that Johnson was the reason Starbucks became available in black neighbourhoods. 

Also read | LeBron James, Dwyane Wade, Magic Johnson among NBA stars speaking on George Floyd’s death

Does Magic Johnson own Starbucks? Fans on Magic Johnson and Starbucks

Magic Johnson had a large share in Starbucks. Wonder what he has to say. They gonna take their cure back.

— Larry cooper (@Larryco33290033)

Did magic johnson sell the franchise? Because I know if he was still the owner this wouldn’t happen

— alexjeremy (@alexjeremy5)

I thought Magic Johnson owned Starbucks...?

— Khy (@KhyreePoole)

Do you know if Magic Johnson still owns Starbucks Shops?

— Darius Soriano (@forumbluegold)

Some people are not big corporations. They just save up and sacrifice so they can have a business. Destroying their livelihood destroys their hopes and dreams. How does this help? Starbucks will survive. Magic Johnson worked hard to bring Starbucks into black neighborhoods. Now?

— richardlund (@lundpixel)

Also read | Magic Johnson stands by Michael Jordan as the GOAT over LeBron James after The Last Dance

Who owns Starbucks?

Howard Schultz is the founder and the single-largest shareholder of Starbucks, also being the former CEO of the company. As per reports, Johnson wanted to bring Starbucks to the 'inner city' and convinced Schultz that the stores would work there. As Johnson's board room meetings did not convince Schultz, the Lakers star had apparently invited him to one of the theatres he owned back then. In a CNBC interview, Johnson later stated that the 1998 Starbucks deal was a 'game-changing deal' for him that put him 'on a path of success'.

Also read | Magic Johnson's insurance company to fund $100 million for minority-owned businesses