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From: YWN666 DelphiPlus Member Icon Posted by hostNov-4 6:52 AM 
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https://www.vanityfair.com/news/2019/06/marla-maple-prenup-donald-trump-marriage

“Marla Was Under Duress”: Revealed in His Marla Maples Prenup, Donald Trump’s Draconian Art of the Marriage Deal

She only got $1 million. Trump called himself a billionaire, but likely wasn’t. Child support would cease if Tiffany joined the Army or the Peace Corps. And other secrets of the Trump-Marla prenup.

 

In the fall of 1993, Donald Trump was clawing out of the rubble of a cratering business career. Three of his Atlantic City casinos had gone bankrupt. He’d nearly defaulted on $3.4 billion in debt, and, humiliatingly, his creditors had put him on a living allowance: $450,000 a month. Bankers forced him to sell his 282-foot yacht, the Trump Princess, as well as the Trump Shuttle airline and stake in the Plaza hotel, which Trump had once called “the ultimate trophy in the world.” His relationship with Marla Maples had begun in Trumpian glory, with the words “Best Sex I’ve Ever Had” on the front page of the New York Post, but Maples had just given birth to their daughter, Tiffany, and was eager to get married. “I’m going to have to make a decision about Marla...what should I do?” Trump asked his mother around this time. He was 47 years old. Many people in the city believed he was finished.

A source recently passed me a revealing document from this era: Trump’s prenuptial agreement with Maples. Its draconian terms suggest a penuriousness at odds with his public image as a free-spending billionaire in his gilded triplex penthouse. And its confidential financial statements included in the agreement is a sketch of Trump’s immense privilege and the wealth he squandered, telling in both what it illuminates and what is obfuscates.

In the fall of 1993, Donald Trump was clawing out of the rubble of a cratering business career. Three of his Atlantic City casinos had gone bankrupt. He’d nearly defaulted on $3.4 billion in debt, and, humiliatingly, his creditors had put him on a living allowance: $450,000 a month. Bankers forced him to sell his 282-foot yacht, the Trump Princess, as well as the Trump Shuttle airline and stake in the Plaza hotel, which Trump had once called “the ultimate trophy in the world.” His relationship with Marla Maples had begun in Trumpian glory, with the words “Best Sex I’ve Ever Had” on the front page of the New York Post, but Maples had just given birth to their daughter, Tiffany, and was eager to get married. “I’m going to have to make a decision about Marla...what should I do?” Trump asked his mother around this time. He was 47 years old. Many people in the city believed he was finished.

A source recently passed me a revealing document from this era: Trump’s prenuptial agreement with Maples. Its draconian terms suggest a penuriousness at odds with his public image as a free-spending billionaire in his gilded triplex penthouse. And its confidential financial statements included in the agreement is a sketch of Trump’s immense privilege and the wealth he squandered, telling in both what it illuminates and what is obfuscates.

Raoul Felder, the legendary divorce lawyer whose clients have included Trump’s own lawyer Rudy Giuliani, agreed. “A prenup sucks romance out of the relationship,” he told me. “It’s a prior agreement as to the disposition of money, assets, payments. You basically plan the divorce before you get married.”

Prenup negotiations require both parties to disclose to the other how much money they have. In the document, Trump stated he was worth $1.17 billion; Maples had $100,000 in the bank. But while Trump presented himself as a Master of the Universe, back and bigger than ever, he was, in all likelihood, not an actual billionaire when he signed the agreement. (He didn’t appear on the Forbes list between 1990 and 1995.) And Trump had financial incentive to inflate his wealth: if he understated his fortune, Maples could later claim in a divorce that Trump hid money from her at the time, which could void the prenup’s terms. “When you’re doing a prenup, the worry is you understate your assets. If you overstate it, then you’re protected,” a high-profile Manhattan divorce lawyer told me.

To keep himself in the nine-figure club, Trump provided extremely optimistic values for his real estate assets. For instance, he stated the Taj Mahal was worth $1.25 billion, even though it had trouble making debt payments virtually from the moment it opened. (In 2017 it sold for 4 cents on the dollar.) He valued the Trump Castle and Trump Plaza casinos $450 million and $650 million, respectively. (Both went bankrupt in 1992.) Trump’s accountants at Spahr, Lacher & Sperber didn’t vouch for his fuzzy math. “We have not audited or reviewed” the numbers Trump provided, they stated in a note attached to the financial report. They added: “Assets are presented at current values estimated by Trump using various valua
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