As the year ended in 1993, Donald Trump’s financial career was in shambles. He had almost gone bankrupt due to being $3.4 billion in debt. He sold his 282-foot yacht, the Trump Princess, the Trump Shuttle airline, and ownership of the Plaza Hotel.
A prenuptial agreement between Trump and Maples is a document from this period that reveals a lot. Its severe conditions cast doubt on his reputation as a stingy billionaire who lives lavishly in his gilded penthouse triplex, contradicting his public persona.
Tiffany Trump, Maples’s daughter, was born in October 1993 but had yet to take her wedding dress shopping trip. After spending $14 million, $650,000 per year on alimony and child support, losing a Connecticut house and an Upper East Side apartment in his divorce from his first wife, Ivana Trump, Donald Trump allegedly hesitated about getting married again. Donald Trump secured his wealth in a legally binding prenuptial agreement with Maples so he wouldn’t repeat his previous error.
When you’re preparing a prenup, the fear is you understate your assets, leading him to exaggerate his net worth by $1.17 billion. You may avoid consequences by exaggerating it. In Trump’s Maples agreement, if they divorced during the first five years, Trump reduced Maples’s divorce settlement to $1 million, plus another $1 million to buy a house.
She had initially requested $25 million.
Until Tiffany is 21, Donald Trump would pay her $100,000 a year in child support. However, if Tiffany “found a full-time job, entered the military, or joined the Peace Corps,” the payments would stop sooner. The meticulousness with which it was written reveals his extreme caution.
Surprisingly, Maples signed the prenuptial agreement to renegotiate it for a better price in five years. The Trumps’ marriage didn’t last until their fifth anniversary; in 1999, they filed for divorce after separating in 1997. She ended up receiving $2 million without ever renegotiating the prenup.
In light of Donald Trump’s possible bid for a second term as president, sources close to the couple have revealed that Melania has “quietly” revised their prenuptial agreement.
The pair tied the knot in 2005. The new arrangement covers both monetary and real estate matters.