Magic Johnson -- I'm Proud My Son's a 'Rich Kid' ... He's Gonna Be a Huge TV Star

Magic Johnson's son EJ is BLOWING UP as a reality star on "Rich Kids of Beverly Hills" ... and the NBA legend tells TMZ Sports he couldn't be PROUDER!!!

In fact, Magic says he thinks the shameless E! reality show will springboard EJ into a TV superstar -- and predicts it won't be long before the kid has his own show.

Magic really couldn't be a more supportive parent -- especially after the way he had EJ's back when his son revealed he's gay.

There's more .. Magic also talks about recently buying the L.A. Sparks and also takes another shot at the Lakers. Check out the clip.