Law Frims

Trump wants to buy Greenland: Here's how much it would cost the United States

January, 08, 2025-04:35

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Trump wants to buy Greenland: Here's how much it would cost the United States

Donald Trump is once again advocating for the United States to acquire Greenland, an autonomous territory of Denmark. The former president initially proposed this idea during his first term in 2019 while consulting with senior advisers. However, he left office without taking any steps toward the acquisition. As he prepares to begin a second term in less than two weeks, Trump is revisiting this proposal. His son, Donald Trump Jr., visited Nuuk, Greenland, on Tuesday alongside other representatives of the incoming administration. Danish Prime Minister Mette Frederiksen and other politicians have firmly communicated to Trump that "Greenland is not for sale." If it were available for purchase, what would the cost be for the U.S.? Some analysts suggest that a relevant comparison can be drawn from the U.S. acquisition of Alaska from Russia in 1867. Both regions share cold, arctic climates, low population densities, strategic locations, and significant oil reserves. The U.S. acquired Alaska, which spans 586,412 square miles, for $7.2 million, which is roughly equivalent to $153.5 million today.

Given that Greenland is approximately 1.5 times larger than Alaska at 836,000 square miles, a proportional increase in price would suggest a total cost of around $230.25 million. Trump is revisiting the idea of purchasing Greenland, a notion he first raised in the summer of 2019, which was met with rejection from Danish and Greenlandic leaders who reiterated that "Greenland is not for sale." Another perspective involves examining past considerations for acquiring Greenland. In 1946, the U.S. contemplated purchasing the island for $100 million in gold, which would amount to over $1.6 billion in today's currency. However, both of these estimates fall significantly short of Greenland's gross domestic product, which was reported at $3 billion.

Trump is again proposing the acquisition of Greenland, a sentiment he expressed in the summer of 2019, which was met with rejection from Danish and Greenlandic officials who reiterated that "Greenland is not for sale." Another relevant historical instance to consider is the U.S. proposal in 1946 to purchase Greenland for $100 million in gold, which would translate to over $1.6 billion today. Despite these figures, both calculations remain significantly lower than Greenland's gross domestic product, reported to be $3 billion