The individual in question has long been rumored to possess a number of video outtakes featuring Trump using extremely racist language, including repeatedly using the "N word" to describe African-Americans. If even one such tape was made public, of course, that could be ruinous for Trump's reelection chances.
Given that Trump has a history of paying people hush money so they won't raise awkward issues during election campaigns, and given the Celebrity Apprentice executive has no political experience to warrant a $6,600 monthly fee, and given he's alleged to have dirt on Trump, one would not be unreasonable to speculate that another hush money scheme is underway.
If so, that says a great deal about a candidate, not to mention a President, who regularly has to pay people to keep quiet about his many ugly secrets.
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