Michael Jordan's Wife Gets A Hefty Payday Each Year From Their Prenup
Michael Jordan is notorious for his ultra-competitive streak, always striving to outdo others in every endeavor. When Jordan divorced his ex-wife Juanita Vanoy in 2006, he made the top of an ignominious list as it was the most expensive celebrity divorce up to that date. Vanoy walked away with a staggering $168 million, not to mention custody of their three kids and their Chicago estate.
A few years later, the Chicago Bulls legend met his future wife, Yvette Prieto, at a nightclub in Miami in 2008. In 2013, the couple tied the knot in a gorgeous wedding ceremony in Florida. Among the 500 guests in attendance were fellow NBA stars Scottie Pippen and Patrick Ewing. Jordan did not skimp on splurging for the nuptials, with the event reportedly costing a jaw-dropping $10 million. An insider for the Miami Herald estimated around 2,000 people showed up to the after-party hosted at Jordan's palatial home. The couple didn't waste much time expanding their family, and Prieto gave birth to twin girls in 2014.
Not looking to repeat the mistakes of his first marriage, Jordan had a prenup in place when he married Prieto. He was worth $650 million before they tied the knot in 2013, and he wanted to protect his assets. As reported by the National Enquirer, part of the prenup stipulated that in the case of divorce, Prieto would receive $1 million for each year they were married. That amount would substantially increase over time.
Why Yvette Prieto has no issue with the prenup
The prenup between Michael Jordan and Yvette Prieto not only guaranteed her $1 million per year should they call it quits, but that amount would increase to $5 million per year after 10 years of marriage. Both the NBA Hall of Famer and his second wife felt comfortable with the terms of their prenup. "Michael loves Yvette, but he won't let that interfere with his common sense — and his money — like it did before," a source told the National Enquirer in 2013, according to the Daily Mail. Prieto had no issue signing the paper. "She can't imagine that they'd ever split up!" the insider added.
Part of Prieto's confidence in the marriage came from the sway she had in the relationship. When they were engaged, the former model convinced Jordan to drive her seven hours so she could visit his hometown. "It's amazing what women can talk you into doing," Jordan told ESPN for a feature story in 2013. Jordan was not the only celebrity to sing Prieto's praises, as she had a relationship with Julio Iglesias Jr. before meeting her husband. "Aside from her beauty, which is obvious, she is loving, simple and very good person," Iglesias told Hola! about Prieto.
Protecting his assets became even more important to Jordan as he sold his stake in the Charlotte Hornets in August, and his net worth skyrocketed to $3.5 billion. Originally, Jordan had planned on having a prenup with his first wife, but those plans fell through.
Juanita Vanoy was pregnant before marrying Michael Jordan
In 1988, Juanita Vanoy became pregnant with Michael Jordan's child. At the time, the couple had been dating for a few years, but there were no concrete plans for marriage, and the Chicago Bulls superstar had not acknowledged that he was the child's father. Vanoy took matters into her own hands and contacted a lawyer. "She told me she was pregnant, unwed, and that the father of the child was Michael Jordan," attorney Michael Minton told The Washington Post in 2002. "She felt she could not get Michael's attention or cooperation or response without the retention of a legal representative," Minton added.
The couple were able to hash out their differences, and legal reps were working on a prenup before the pair tied the knot — as Jordan was already one of the biggest stars in the NBA. Apparently, Jordan and Vanoy became impatient with the process and decided to get hitched in Las Vegas in September of 1989. "I congratulated her and then reminded her that the prenup had not been signed," Minton told the Post. "She told me to work on a postnup." The couple signed a postnup 18 months after walking the aisle.
As mentioned, Vanoy came out of the divorce with a fortune. She used part of that money to start her own boutique clothing business, Juanita World, which specializes in selling pre-owned luxury clothing and accessories. Vanoy was also a producer on the 2022 Broadway production of "Some Like It Hot."