Michael Jordan, the iconic basketball legend who redefined the sport, is known for his shrewd business acumen. This applies not just to sneaker deals and sports franchises but also to his personal life. After a high-profile and expensive divorce from his first wife, Juanita Vanoy, Jordan entered his second marriage with a different playbook – a meticulously crafted prenuptial agreement with his new wife, Yvette Prieto.
View this post on Instagram
Vanoy’s 2006 divorce settlement remains one of the largest in sports history, estimated at $168 million. For Jordan, that was a hard lesson learned. Before saying “I do” to Prieto in 2013, he sought to protect his fortune with a comprehensive prenup. While the details remain confidential, reports shed light on some key clauses.
What Does Michael Jordan’s Prenuptial Agreement With Yvette Prieto Contain?
On April 27, 2013, Michael Jordan wed Yvette Prieto, his second wife, and this union prevented any lousy press from surfacing. Despite there being close to a twenty-year gap between the two, the only numbers that are important to Jordan are those in his bank account. For this reason, Sportskeeda claims, he signed a lucrative prenuptial agreement that varied in value based on the length of their marriage before they were legally married.
The agreement reportedly features a sliding scale based on the duration of the marriage. Prieto would receive $1 million per year for the first ten years. After a decade, the figure jumps to $5 million annually, increasing yearly. As of today, with over ten years married, Prieto’s potential payout would easily exceed $50 million.
Net worth
However, the prenup does not guarantee Prieto a slice of Jordan’s vast wealth, estimated at $3.5 billion. It primarily protects his pre-marital assets, including his business interests and properties. This means Prieto would not claim ownership of his Charlotte Hornets stake, Air Jordan brand endorsements, or luxurious Chicago mansion.
View this post on Instagram
While some might see this as a cold and cynical move, Jordan’s perspective has merit. He built his fortune through years of blood, sweat, and athletic genius. Protecting that legacy for his children and future generations is a perfectly reasonable concern. Moreover, transparency and open communication about finances are vital for any marriage, and a prenup can facilitate that conversation.
RELATED
Beyond the legalities, the prenup’s existence doesn’t necessarily imply a lack of love or trust between Jordan and Prieto. They’ve been married for over a decade, welcomed twin daughters, and built a seemingly happy life together. The prenup establishes financial boundaries and prevents potential legal battles down the line.
Of course, some argue that prenups can put a strain on relationships, creating an atmosphere of distrust and calculation. They might feel like a safety net against love rather than a celebration of commitment. Ultimately, the decision to have a prenup is personal, and what works for Jordan and Prieto might be wrong for some.
The Jordan-Prieto prenup serves as a reminder that even for celebrities, marriage is a complex legal and emotional contract. It highlights the importance of open communication, financial transparency, and understanding individual priorities when committing a lifelong commitment. Whether celebrated or scrutinized, their prenup is a testament to Jordan’s business savvy and desire to secure his financial future – a legacy woven into the fabric of his life, both on and off the court.
