She married into money and took most of it when she got divorced. In a few short years she's evolved from spurned ex-wife into multimillionaire business woman.
Ivana's father taught her to ski and swim when she was just two years old and she later became a member of the Czech youth ski team, although Olympic selectors passed her over for the 1972 squad.
After obtaining a masters degree in physical education at Charles University in Prague, Ivana emigrated to Canada. She married Austrian skier Alfred Winklmayr in 1971, enabling her to leave Communist Czechoslovakia. It was in Montreal that she enjoyed some success as a model.
In 1976, Ivana met Donald Trump, an entrepreneur who had inherited his father's $20 million businesses. Nine months later, they were married and had three children, Donald Jr, Ivanka and Eric.
Trump's wealth, combined with Ivana's talent for publicity, hastened their rise to the top of society. When the businessman bought New York's Plaza Hotel, he asked his wife to take over a restoration project of the building and she became its president. The decision turned out to be a wise one for Trump as Ivana was named Hotelier of the Year in 1990 thanks to her work at the Plaza.
The couple acquired many homes, including a triplex penthouse in Trump Tower with 50-odd rooms, not to mention their own Boeing 727 airliner. However, the couple separated as a result of Trump's alleged infidelity. A 13-month legal battle ensued, with Ivana eventually winning a $25 million payout, $10 million of which was in cash.
Ivana decided to build her own empire, Ivana Inc. She has a range of clothing, a magazine and has written two novels and a 'Guide to Divorce', with the help of a ghost-writer. She has also flirted with Hollywood, making a cameo appearance in the comedy 'The First Wives Club', in which she uttered the line, "remember girls: don't get mad, get everything".
In 1995, she married Italian businessman, Riccardo Mazzucchelli, but almost immediately she left him for Ferrari dealer Roffredo Gaetani di Laurenzana.
The 62-year-old has shown few signs of slowing down in her old age and a stint on 'Celebrity Big Brother' in January 2010 seems to have ignited an interest in reality TV shows as, in March 2010, she appeared in an Italian reality show entitled 'L'iosla dei famosi'.
Commenting on the experience via her website, she said: "It was a hoot. I slept on a beach, under the stars, and 'roughed' it as if I were on a desert island with Robinson Crusoe". Although she admitted it was not like spending time at a spa, she said she enjoyed being away from mobile phones, offices and traffic.
She said that she would find it hard to live on an island for a prolonged time, but for three days she said it felt like "a mini-vacation".