After recently selling his stake in the Charlotte Hornets, Michael Jordan is now reportedly worth 3.5 billion dollars. His net worth has seen a massive rise in the past 15 years. Having gone through a tough time in his life in 2006, Jordan learned to do things that are more in his favor.
Michael Jordan’s divorce from his first wife, Juanita Vanoy, ended with a heavy settlement. Having paid more money than what he made during his whole playing career to this wife, Jordan made his second wife sign a prenup before their marriage. But the contract is now ready to make Yvette Prieto $4 million more every year after the next 6 months.
Michael Jordan learned from his mistake
ADVERTISEMENT
Article continues below this ad
Learning from his experience of what a divorce can bring to his assets, The Chicago Bulls legend and his second wife, Yvette Prieto, signed a prenup before getting married to each other. The prenuptial contract was made in a way that benefited both parties.
In the contract, it is mentioned that if the couple got divorced, then Yvette would be given 1 million dollars for every year the couple was together after marriage.
But in six months, that is going to change. This is because the prenup also states that if the couple has been married for more than 10 years and files for divorce, Yvette will be paid $5 million for every year the couple was together. Michael will remain the owner of all the businesses and properties.
With the net worth that Jordan has currently, this prenup is a big safe space for Jordan in case something goes wrong. But back in 2006, he learned things the hard way after his divorce from his first wife.
ADVERTISEMENT
Article continues below this ad
Jordan’s first divorce did not end well for him
Jordan and Juanita Vanoy were married for 17 years before filing for divorce. They first filed for divorce in 2002. But they later reconciled. Having troubles in their lives, they filed again for divorce in 2006. Following that, Jordan was ordered to pay a heavy settlement.
Michael Jordan was made to pay $168 million in settlement. On top of that, Jordan had to pay 2 million dollars in legal fees for the divorce. Vanoy was also given custody of his three children and their marital home in Chicago. Jordan, in his whole time playing in the league, earned 94 million dollars which makes this settlement an interesting one.
ADVERTISEMENT
Article continues below this ad
Watch This Story: Days Within Getting Denied of His Only Trade Destination, Damian Lillard Feels Otherwise About Teaming Up With Giannis Antetokounmpo
What do you think of this contract between Jordan and Yvette? Let us know in the comments!