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THE ART OF THE PRENUPTIAL DEAL
By ALAN DEUTSCHMAN

(FORTUNE Magazine) – How good a contract did Donald Trump ink for his own divorce? The couple's prenuptial agreement, as renegotiated sporadically during their marriage, calls for wife Ivana to receive up to $25 million plus their Connecticut estate and custody of their three children -- or so say Don's handlers. Doesn't sound like much for a man whose net worth FORTUNE estimated at $1.7 billion last September, when divorce rumors started circulating. Judging by the response from Ivana's camp, The Donald (Ivana's pet name) may once again have proved a shrewd negotiator. Her attorney, Michael Kennedy, called the prenupt pact ''unconscionable and fraudulent,'' implying that Ivana deserves a lot more. Odds are the deal will stick. Says divorce attorney Raoul Felder: ''These agreements are hard to set aside.'' Still, this would be an inopportune time for Donald to take a $25 million cash hit -- he must fork over $188 million this year in interest on the junk bonds that financed his white elephant casino, the Taj Mahal in Atlantic City. / Where does the divorce leave Ivana's career? When Trump bought New York's Plaza hotel in 1988, he named her president. Gossip columnist Liz Smith reported an unnamed Trump aide sniffing that Ivana ''doesn't know that much about business.'' Stephen Brener, a New York hotel broker, offers a more moderate view: ''Ivana was certainly very involved in the design, decor, and upgrading of the Plaza.'' She may also be responsible for attracting such events as fashion shows staged by Carolyne Roehm (Mrs. Henry Kravis). Pre- Plaza, Ivana played a daily role running Trump Plaza in Atlantic City. Maybe she can sue for wrongful firing.