Trump admin denies it will spend $60B to rebuild Gaza as luxury destination

The Trump administration denies that it will be funneling $60 billion to rebuild Gaza, though avoids an explicit denial of the broader report where the revelation was made.

The Wall Street Journal reported on Friday that the US has presented a proposal to potential donor countries that would see Gaza turned into a high-tech, luxurious coastal destination over the next two decades at the cost of $112 billion.

The story said the US would initially commit to “anchor” the program by providing $60 billion, while envisioning Gaza being able to self-fund parts of the proposal as it gets underway.

The X account for the State Department’s Near Eastern Affairs Bureau posts a link to a New York Post writeup of the WSJ story and writes, “This is fake news. Nowhere in the plan does it say the US will pay $60 billion.”

Notably, the post avoids further comment on the story, indicating that the rest of it may be accurate.

WSJ said it had obtained a 32-page slideshow labeled “sensitive but unclassified” that detailed the four-stage vision to clear the rubble, rebuild the Strip, and take Gazans out of poverty, adding that it had been shown to wealthy Gulf countries, Turkey and Egypt.

This is fake news.

Nowhere in the plan does it say the U.S. will pay $60 billion. https://t.co/yoglZ36vAI

— U.S. State Dept – Near Eastern Affairs (@StateDept_NEA) December 21, 2025