The YUGE yacht that failed to launch: Trump paid a Spanish company $170,000 to build a 420-foot luxury vessel - but pulled the plug when his hotels and casinos went bankrupt 

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Long before he was elected president of the United States, businessman Donald Trump commissioned a Spanish firm to design the largest and most beautiful yacht in the world.

Over the following months, Jaime Oliver and his son IÒigo built up a close personal relationship with the future White House resident.

Together they worked on the conceptual design of the Trump Princess, from the first sketches through to the completed blueprints. The company was paid $170,000 to design the opulent 420-foot luxury vessel.

Ultimately, however, the project was abandoned at a time when several of Trump’s hotels and casinos had filed for bankruptcy. 

Long before he was elected president of the United States, Donald Trump commissioned a Spanish firm to design the larges yacht in the world. Trump is pictured above with firm's design team in Trump Tower in 1993 

Over the next few months, a conceptual design (above) of the Trump Princess, from the first sketches through to the completed blueprints were finished 

The company was paid $170,000 to design the opulent 420-foot luxury vessel for Trump (pictured above in a sketch)

Oliver Design, which recently celebrated its 25th anniversary was still a small, fledgling company which had set up its pitch at one of the world's leading shipping fairs, the Florida Boat Show.

There, to the astonishment of the firm’s founder, Jaime Oliver, they were visited by Trump’s personal assistant.

A spokesman for Oliver Design said: ‘It transpired that the real estate mogul had had a private viewing of the exhibition and out of all the exhibitors, had picked Oliver Design as the best candidate to design his new yacht.’

Trump knew exactly what he wanted. He wrote in a letter to Jaime Oliver, saying he was interested in building not only the largest yacht in the world, but at the same time, the most beautiful.

The businessman had already had some experience with luxury yachts. 

In 1988, he had bought the Kingdom 5KR, previously owned by Saudi millionaire Adnan Khashoggi, from the world’s richest man, the Sultan of Brunei. 

Trump renamed the vessel Trump Princess and in 1991 sold it on to a Saudi prince.

Trump knew exactly what he wanted. He wrote in a letter to Jaime Oliver (above with Trump in 1993), saying he was interested in building not only the largest yacht in the world, but at the same time, the most beautiful.

Over a period of several months, from the first sketches through to the completed blueprints, the billionaire followed the work on the design (above) of the Trump Princess with close interest

Oliver Design was paid $170,000 for the conceptual design and even began talks with Spanish shipyard Astilleros EspaÒoles, now Navantia, about construction. Sketch above 

The firm’s archives still contain the plans of a ship which had four decks, a heliport, luxury split-level suites, sophisticated lounges, a swimming pool, hot tubs and a vast gallery decorated with palm trees which could have hosted any type of function. Sketch above

The vessel was so spectacular it was used as the location for the villain's floating headquarters in the hit James Bond movie, Never Say Never Again, Sean Connery’s last appearance as 007. 

Jaime Oliver's son IÒigo , now the company's sales manager, was aged 25 at the time and had just joined the firm.

The spokesman added: ‘IÒigo spoke excellent English and his father put him in charge of nearly all direct dealings with the American businessman. 

'On a number of occasions, father and son visited the billionaire in his office at Trump Tower, the imposing New York skyscraper that symbolized his financial might. 

'Òigo was also invited to stay at Donald Trump's mansion at Mar-a-Lago in Palm Beach, Florida, where he dined with the Trumps and watched movies in their private cinema.'

He even attended the baptism of Trump’s youngest daughter, Tiffany Trump.

Over a period of several months, from the first sketches through to the completed blueprints, the billionaire followed the work on the design of the Trump Princess with close interest. 

Trump sent the above letter in regards to getting the yacht built in 1993

Soon after, Trump notified Oliver Design that the yacht would not finally be built. According to some sources, in early 1994, his companies had a combined corporate debt of $3.5 billion dollars and he had personal debts of around $900 million. Sketch above

Oliver Design was paid $170,000 for the conceptual design and even began talks with Spanish shipyard Astilleros EspaÒoles, now Navantia, about construction. 

The firm’s archives still contain the plans of a ship which had four decks, a heliport, luxury split-level suites, sophisticated lounges, a swimming pool, hot tubs and a vast gallery decorated with palm trees which could have hosted any type of function. 

But just as suddenly as it had arrived on Jaime's desk, the project was scrapped.

The spokesman explained: ‘Without offering much explanation, Donald Trump notified Oliver Design that the yacht would not finally be built; a decision that was probably not unrelated to the businessman’s delicate financial situation at the time, with his hotel and casino businesses facing bankruptcy.’

According to some sources, in early 1994, his companies had a combined corporate debt of $3.5 billion dollars and he had personal debts of around $900 million.

But as a testament to that failed operation, Oliver Design's files still hold the sketches of what would have been the most spectacular and sophisticated private yacht of its time, conceived by a small Spanish firm for a man who would one day become President of the United States.