There is plenty of evidence showing that Mr. Trump is anything but a good businessman. Recently revealed records showed that he lost over $1 billion in a ten-year time span. So, it isn’t surprising that he can’t seems to manage his family affairs well either.
On Tuesday, Vanity Fair published an article containing shocking revelations about Trump’s prenuptial agreement with his second wife, Marla Maples, which contains shocking information regarding his values and finances.
Vanity Fair’s Gabriel Sherman wrote:
‘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 it obfuscates.’
He went on to say:
‘More than anything, the prenup shows how fiercely Trump wanted to protect the money he did have. Maples reportedly wanted $25 million, but Trump agreed to pay her only $1 million if they separated within five years, plus another $1 million to buy a house.’
Another shocker was that Trump would stop making $100,000 child support payments once his daughter, Tiffany, turned 21. In addition, the document stated that he would end those payments earlier if she got a full-time job, enlisted in the military, or joined the Peace Corps.
Legendary divorce lawyer Raoul Felder told the magazine:
‘The way it was drawn up is ironclad and shows how wary he was. He was leaving nothing to chance.’
When drawing up a prenuptial agreement, both parties must admit how much money they have, and at the time Trump listed that he was worth $1.17 billion although it was likely that he was not actually a billionaire when he signed the agreement. Marla Maples had $100,000 in the bank at the time.
There was an incentive for Trump in inflating in his wealth. If he understated it in the prenuptial agreement, Marla could later claim in a divorce that Trump hid money from her, which would void the terms of the prenup.
Maples told a journalist:
‘We basically came to an agreement that for the first few years we would agree on something and then tear it up.’
‘What was she going to do? She would have taken whatever he said.’