The ultimate tarot card as many call it and one of my favorites. This magician is not someone who does magic tricks like you see in performance. Nor is it casting fire spells or doing stage magic like in pop culture, however I do like the depiction of it in this card. It is the card that I am most like according to a few online tests. Let me be clear, my life isn't defined by some cards or archetypal mental boxes, I do want I think and feel like I need to do. These cards are symbols and allegories for understanding consciousness.
The card is primarily a masculine card, but with feminine aspects enhancing the power of it. It represents willpower and using intuition (feminine) energy in order to physically change the universe. The roman numeral I on the hat represents that it is the first tarot card (after the 0th card the Fool). The astrological sign is mercury, which is the first planet. The sun can be seen behind it as well, showing its relation to the fool card, it is an apprentice to the magician. The sun could also represent the spirit, which is represented as an empty circle and its the 0th planet (the number 0 even looks similar to a circle). The sun is also located behind the man's third eye chakra (if you are more scientifically minded, the pineal gland of the brain). The symbols in the circles represent different natural elemental forces in the universe. Starting with the top left, it repents air, a masculine force. The top right represents earth, a feminine force. The bottom left represents water, a feminine force.
The bottom right represents fire, a masculine force. The lemniscate represents duality of masculine and feminine.
If you draw a line from the sun and the symbols together, it creates a pentagram, an ancient symbol representing the spiritual world being over the physical (not saying physical work is not important, after all, a magician works on the physical world). An inversion of the pentagram is often seen in pop culture, and it symbolically represents putting the spiritual world below the natural world or making it non-existent.
The card is a light occultist, who wants to raise the consciousness of the universe and understands that if a being suffers, he/she too suffers, and tries to help others become more aware. The intent is to use positive persuasion (influence).
The inversion of the card is a dark occultists or a sorcerer, who wants to lower the consciousness of the universe, usually in order to enslave others for personal gain, yet in the end, there own worship of ego will be their fault. (As an aside, I would say the ego is not evil if aligned with higher will and internalizing your power for positive change in the universe). A dark occultists actually ignorantly believe that they are doing themselves good and they are not, the will reap what they sow. The intent is the negative persuade (manipulate) people.
I do not know what the five randomly place stars mean, unfortunately.