The self-governing Danish territory of Greenland is once again being considered for purchase by U.S. President-elect Donald Trump. During his first term in 2019, he originally considered this concept but did nothing. Trump is now reexamining the idea just before the start of his second term.
However, if the United States were successful in purchasing Greenland, what would the price be?
The U.S. acquisition of Alaska from Russia in 1867 has been compared. Both regions have oil reserves, low population densities, frigid weather, and advantageous locations. At $586,412 square miles, Alaska cost $7.2 million back then, or around $153.5 million now. According to the Daily Mail, a 50% rise over Alaska’s adjusted pricing would result in an estimated $230.25 million for Greenland, which is larger at 836,000 square miles.
In 1946, the United States proposed to purchase Greenland for $100 million in gold, which is now more than $1.6 billion. The GDP of Greenland was $3.24 billion in 2021. In 1917, the United States paid $25 million in gold (about $616.2 million today) to Denmark for the U.S. Virgin Islands, and in 1803, it paid $15 million (around $418.8 million today) to France for the Louisiana Purchase.
But it’s still unclear how much buying Greenland will actually cost. According to the US Constitution, funding would need Congressional approval.
Notably, in 2019, the leaders of Denmark and Greenland turned down Trump’s initial offer. It is not for sale, said Danish Prime Minister Mette Frederiksen. Denmark is not Greenland. Greenland is a Greenlandic territory. Later, Trump called off a state visit to Denmark.
Trump did not rule out using economic or military pressure to force Denmark to surrender Greenland to the United States on Tuesday.
Denmark, a longtime ally of the United States and a founding member of NATO, owns the autonomous territory of Greenland, which is home to a sizable American military installation. Trump has questioned the validity of Denmark’s Greenland claim.
In response to Trump’s remarks, Prime Minister Mette Frederiksen stated in an interview with Danish broadcaster TV2 that the United States is Denmark’s “most important and closest ally” and that she is confident the United States won’t use its economic might or military might to seize control of Greenland.
