More Videos
- Will LeBron Dunk Tape Ever Be Released?
- What You'll See On My NASCAR Documentary Tonight
- What You'll See On My NASCAR Documentary Tonight
- Amazing Cycling in France For Make Glorious Nation of Kazakhstan
- Gatorade Makes Limited Edition Jordan Bottles
- Staples To Cash In On Jackson's Funeral
- Lacoste Runs Full Page Ad With Roddick Loss
- Is Andy’s Mojo Back? We Asked Him
- Lance, Please Back Out Of Tour
- Singh Not Wearing Stanford At Tournament
RSS FEED
|
CNBC'S MOST SHARED
- Investing in Tech Now
- Apartment Vacancy Rate Hits 22-Year High
- What You'll See On My NASCAR Documentary Tonight
- Software Giants Rush to Cash In on Carbon-Trading
- Citigroup Replaces CFO, Shakes Up Top Management
- Warren Buffett: Economy Needs Another Dose of Viagra
- Warren Buffett Tells CNBC Consumer Sales Remain "Very, Very Soft"
- Cramer?s Outrage
- Buffett: Second Stimulus Might Be Needed for Economy
- Microsoft Plays a Game of Bing Pong
- Warren Buffett Tells CNBC Consumer Sales Remain "Very, Very Soft"
- July 10th in Market History
- Microsoft Plays a Game of Bing Pong
- Options Smell 'Blood' on Infosys
- Christmas in July: Consumers To Out-Scrooge Scrooge
- GM's Second Chance
- Art Cashin: Traders Weigh Obama Policy Changes
- Warren Buffett: Economy Needs Another Dose of Viagra
- Commercial Real Estate: 'Ticking Time Bomb'
- Chevron Says Q2 Hit by US Refining, Weak Dollar
- Stimulus Critics Put Obama, Democrats on Defensive
- Warren Buffett: Consumer Sales Remain 'Very, Very Soft'
- Don’t Get Burned By Hot Emerging Markets
- Busch: Chinese Bank Announces Bombshell
- SEC Says California IOUs Are Legal "Securities"
- Lenny Dykstra: 'Bank Fraud' Led to Bankruptcy
- Cramer: What to Expect This Earnings Season
- Christmas in July: Consumers to Out-Scrooge Scrooge
Text Size 
 |
AP |
When reached, Jordan's business manager Estee Portnoy wouldn't comment on the number, but I have strong suspicions that it's just not close.
The story started making the rounds this week again after the Sunday Times reported this along with the $168 million number: "The final severance package for Juanita Jordan, which includes the couple's seven-acre estate in Chicago and custody of their three children, is expected to be agreed...."
First of all, do you think the Sunday Times in England of all papers breaks this story? Next, would you believe the $168 million number if I told you that any Jordan insider can tell you that not one of them knows plans of Jordan to leave his estate. I can't speak to the custody thing, as we know that his wife has always been insistent on that.
It's interesting to go to the root of how this started. The numbers started to get bandied about in April when Forbes.com wrote this:
"The legendary basketball star married Juanita Vanoy, a Chicago bank officer, in 1989. He already had signed an eight-year, $25 million contract with the Chicago Bulls. He also was earning another $30 million a year from Nike and other endorsement deals....Over the course of the marriage, Jordan earned more than $350 million. Should Juanita press for half of his assets, she could get more than $150 million in the settlement."
I'm going to go out on a limb here and say that Michael very likely had a pre-nup. I mean, do you think there was anyone making more than $20 million a year in 1989 that didn't have a pre-nup? I don't. And if Jordan had a pre-nup--which I'm sure his agent David Falk didn't let him go without--Juanita Jordan is not ending up with $168 million. Unless, that is, Jordan's earnings have been grossly underestimated and his real earnings are closer to $550 million than $350 million.
Questions? Comments?
Data is a real-time snapshot *Data is delayed at least 15 minutes