The family business · Before politics · № 1
Saudi Prince Alwaleed bin Talal buys Trump's yacht, the Trump Princess
- Date
- , Reported by the Associated Press and The Washington Post
- Subject
- Saudi Arabia
- Benefit
- Real estate and licensing
- Government
- Saudi Arabia
- Beneficiary
- Donald Trump
- Amount
- $20 million
- Topic
- Ethics & conflicts
- Era
- Before politics
What happened
In 1991 Donald Trump sold his yacht, the Trump Princess, to Saudi Prince Alwaleed bin Talal for $20 million, according to the Associated Press and The Washington Post. The AP reported that Trump was close to personal bankruptcy at the time and that the price was a third less than what he had reportedly paid for the vessel; the Post reported that he was nearly $900 million in debt from failed casino projects. The New York Times gave the reported price as $18 million. Trump biographer Tim O'Brien told the Post that the deal favored the prince and that there was no indication at the time that Saudis wanted to curry favor with Trump. Freedom House rated Saudi Arabia Not Free in its 1991-92 survey.
Sources
- 'I love the Saudis': Trump business ties to kingdom run deep
- 'I like them very much:' Trump has long-standing business ties with Saudis, who have boosted his hotels since he took office
- Trump's Business Ties in the Gulf Raise Questions About His Allegiances
- Country and Territory Ratings and Statuses, 1973-2024