Michael Jordan, or MJ as Chicagoans like to call him, is the richest basketball player in the world, with a net worth of $3.5 BILLION. From his time playing on the Bulls to his shoe line to his other business ventures, this pro-athlete turned his basketball talents into a mega-fortune. Are you surprised that he has an infamous prenup with his current and second wife, Yvette Prieto? Probably not. Regardless, we’re here to tell you all about MJ’s prenup and the unique clauses within. Let’s dive in.
Michael Jordan’s first marriage
MJ married his first wife, Juanita Yavoy, in 1989, shortly after he was drafted to the NBA. They had met at a restaurant in 1985 during Jordan’s first year with the Bulls. They tied the knot in a midnight ceremony in Vegas. Together, they had three children. Eventually, the pair divorced in 2006. According to People Magazine, Juanita received one of the biggest celebrity divorce settlements in history: a whopping $168 million dollars. Juanita now owns a luxury boutique and is a co-producer for Broadway musicals.
Michael Jordan’s second marriage to Yvette Prieto
After living the single life for two years, MJ met his second wife at a club in Miami in 2008. Yvette was about 30 years old, and Jordan was about 45 years old when they met. Fun fact: Yvette dated Enrique Iglesias’ brother before meeting Jordan. MJ proposed to Yvette in 2011, and they tied the knot in 2013. Just one year after the wedding, the couple welcomed twin daughters.
At the time that the couple tied the knot, MJ was worth around $650 million. And, just a few years prior, he had given $168 million to his first wife. So, it’s no wonder that he allegedly requested a prenup with Yvette before taking the plunge.
All about Michael Jordan and Yvette Prieto’s prenup
Now, let’s dig into the alleged prenup between the couple. Rumor has it that the prenup requires MJ to pay Yvette $1 million for each year that the couple has been married. The prenup also states that if they have been married for 10+ years, the amount increases to $5 million per year. For example, the couple has been married for 11+ years now, so if they were to get a divorce now, it would mean MJ would have to pay Yvette $55 million ($5 million x 11 years). While this may seem like a lot to the average person, that is a fraction of what Jordan paid his ex-wife (he paid her $168 mil in 2007). To put things in perspective, $55 million is a relatively small sum for someone with a multi-billion dollar fortune; it’s like someone with a $100,000 net worth paying their ex-spouse $1,570 – a mere 1.57% of their total wealth.
MJ and Yvette are still happily married
No need to worry about the prenup, though! They are still happily married, as far as we know. In fact, in 2023, the couple vacationed in Italy with some very famous friends (Samuel L. Jackson and Magic Johnson, to name a few). Their twin daughters are now about 10 years old and are rarely in the public eye, except for a recent sighting in another Italy vacation where they were seen holding hands with their parents. Aww! The happy ending we love to see.
Why prenups matter for everyone and not just the mega-wealthy
While you may think it’s smart for MJ to get a prenup, he’s not the only one who benefits from this protective tool. Even folks without billions of dollars can benefit from a prenup. For example, let’s say you have a modest income and a nice nest egg for retirement when you get married to your partner. However, your partner has $300,000 of medical school loan debt and counting. In some states and some situations, you could be responsible for that debt, even if your name isn’t on it. A prenup can prevent that scenario.
Not only that, but prenups can also protect future assets that don’t exist yet. So even if you don’t have money now, maybe you’ll learn to ball like MJ and start making billions one day. Kidding. But it’s true! Even if you just make a “nice” salary in the future after climbing the corporate ladder, you can protect that with a prenup, even if it’s not millions of dollars.
Nicole Sheehey is the Head of Legal Content at HelloPrenup, and an Illinois licensed attorney. She has a wealth of knowledge and experience when it comes to prenuptial agreements. Nicole has Juris Doctor from John Marshall Law School. She has a deep understanding of the legal and financial implications of prenuptial agreements, and enjoys writing and collaborating with other attorneys on the nuances of the law. Nicole is passionate about helping couples locate the information they need when it comes to prenuptial agreements. You can reach Nicole here: Nicole@Helloprenup.com
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