When someone is rich and famous, that usually means that they have quite the amount of money and assets, although, not always. But in the case that they do, usually a prenuptial agreement is necessary before entering into a marriage with someone, in order to protect their money and assets, should something go awry within the union.
Well, when a couple is worth one billion dollars, the prenuptial agreement takes on a whole other meaning, especially when both partners contribute significantly to their overall net worth. This is the case with the rapper and producer extraordinaire, Jay-Z, and his wife, hip hop and R&B singer, Beyonce, who have quite the interesting pre and postnuptial agreements.
Jay-Z and Beyonce were first married in 2008, and it is then that they first signed their prenuptial agreement, both having already had quite the successful musical careers. Beyonce had made her impact with Destiny’s Child and a blossoming solo career, while Jay-Z had been rapping for years and also starting to produce for other artists
The initial prenup between the couple had some eye-popping stipulations, to say the least. For one, Jay-Z agreed that for every child the two have together, he must pay Beyonce 5 million dollars, of course, that’s only if they split up. Also, for every year up to fifteen years, Jay-Z must also pay Beyonce one million dollars.
And while the music royal couple has been very strong together over the years, they have had their rough patches, just like any other duo. However, their most recent spat led the two to reconsider the agreement, just in case something did happen between them. After all, their incomes and net worth had drastically changed since 2008.
According to Radar Online, the couple sat down and went through their initial prenup with a fine-tooth comb, as well as, their asset and monetary additions since the first legal agreement. Both Beyonce and Jay-Z have reportedly amended the terms, leading to a more favorable outcome for the rapper, at least.
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A source close to the couple shared with Radar Online the reason for updating their legal agreement and what was done to the initial copy. “They have a pre-nuptial agreement already in place, but so much has happened in terms of their empire that it’s needed updating for some time,” they said.
“When they went through their roughest period last year, they both agreed it was time to re-clarify certain aspects of their agreement, but it’s taken months to go through all their assets with a fine-tooth comb,” the source continued.
So what has come out of the postnuptial agreement between the two? According to the insider, it seems that they have agreed to split everything down the middle, at least in regard to the assets and overall net worth.
“[They] have negotiated 50-50 custody terms, plus trust funds for their daughter Ivy and any future children, along with who gets what property and possessions if they separate,” the source shared with Radar Online.
It’s currently unclear if Jay-Z will have to pay his wife for any additional children or if he’ll continue to pay one million to her for every year of marriage, but they’ve been married for twelve years, so that 15-year mark is steadily approaching.