type: timeline_event
Saudi Prince Alwaleed bin Talal purchased Trump's yacht "Trump Princess" for $20 million in 1991, providing crucial liquidity during Trump's severe financial crisis. Trump had bought the 282-foot yacht (originally owned by arms dealer Adnan Khashoggi) for $29 million in 1988, taking a $9 million loss. This bailout occurred when Trump faced personal guarantees on $900 million in debt, marking the beginning of decades of Saudi financial entanglements with Trump's business empire.