Magic Johnson does not currently own Starbucks stores, though his historic partnership with the global coffee corporation remains a legendary milestone in urban business development. Through his corporate entity, Magic Johnson Enterprises, he formed a groundbreaking joint venture with Starbucks in the late 1990s to open coffee shops in urban, predominantly minority-underserved neighborhoods. The venture proved immensely successful, revitalizing commercial corridors before Johnson eventually sold his entire equity stake back to Starbucks on highly favorable financial terms.