Name: Why Jared Kushner’s Plan to Build Trump Hotel Failed in Serbia
Uploaded: 2025-12-16T21:00:00Z
Duration: 3 min 56 s
Description: WSJ’s Eliot Brown explains why the U.S. president’s son-in-law has canceled a controversial plan to develop a Trump-branded hotel in Serbia.

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WSJ’s Eliot Brown explains why the U.S. president’s son-in-law has canceled a controversial plan to develop a Trump-branded hotel in Serbia. Photo: WSJ

https://m.wsj.net/video/20251216/b60c4a7b-75de-4592-8272-a4321a02bf3b/3/hls/manifest-hd-wifi.m3u8

WSJ’s Eliot Brown explains why the U.S. president’s son-in-law has canceled a controversial plan to develop a Trump-branded hotel in Serbia.

Why Jared Kushner’s Plan to Build Trump Hotel Failed in Serbia 

A year and a half ago, Jared Kushner struck a deal with the Serbian government to redevelop a site in Central Belgrade that had been bombed by NATO in 1999. And this was one of his first real estate investments with his private equity fund that he'd formed after leaving the Trump administration. And now, amid widespread opposition within Serbia, it's been brought to an end. So Jared was trying to build a Trump-branded hotel on this sort of sacred Serbian site. This became a bit of a political firestorm in Serbia. So you had protests in the streets against the project. You had allegations of corruption from politicians on the left and the right. And you had a special prosecutor that was finding that the government forged some documents to remove cultural protections. It's been likened by some of the protestors to... Like if son-in-law of the Japanese Prime Minister was given a US site in Pearl Harbor after World War II. Serbia is a difficult place for a western investor to invest, and that's one of the reasons why you really don't see much Western investment at all. The country ranks really high on corruption indices. You have issues where the government has a really strong hand and here, you know, the government was under investigation for wrongdoing by another part of the government, and it all proved too much for Kushner. They said that, you know, developments are supposed to unite and not divide, and so out of respect for the people of Serbia and Belgrade, they're pulling out of the project. I think that Jared, when he was first looking for investments with his new private equity fund, was looking for places where he could get a good deal, and I think saw a place where he could sort of buy on the cheap, 'cause there's not much Western investment and Belgrade was really booming. So I think he saw it as like an actual good investment opportunity. But, you know, that's one of the problems with controversial sites, is they're hard to develop. Jared started the most recent Trump administration as a private citizen running his own private equity fund. But really, he's been drawn in to be the lead, co-lead geopolitical negotiator with Steve Witkoff, trying to end the war in Ukraine and, you know, brokering a ceasefire in Gaza. In the past couple months, he's taken part of the largest leverage buyout ever, and as part of a group trying to buy electronic arts, he's part of a hostile bid to buy Warner Brothers. And in the Balkans, he has another real estate project with a government that has partnered with him on a state asset. So in Albania, he's trying to build a super lux hotel on a former military island off the coast that's meant to cater to the White Lotus type crowd. Another thing that's been bubbling is rising concerns about Trump's family profiting while being in office. And so the Serbia deal was one of many by Jared Kushner, by Trump's children, by Witkoff's family to strike potentially very lucrative business deals. They've been clear they'd follow the law when doing this, but it's generated a lot of discontent, particularly from democrats in the US, and sort of traditional good government types that they're really pushing the boundaries.

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