Buying Greenland? How much money would Donald Trump need to make this happen

President-elect Donald Trump has kicked up a row with a bold proclamation about territorial expansion. His latest vision? Purchasing Greenland, regaining control of the Panama Canal, and even making Canada the 51st state of the United States. 

While the geopolitical implications are staggering, one figure looms large: the potential $1.1 trillion price tag for Greenland alone.

Trump’s fixation on Greenland isn’t new. In 1946, President Harry Truman proposed buying the island for $100 million in gold—about $1.3 billion today. However, Greenland’s contemporary value has skyrocketed, driven by its untapped mineral wealth, strategic Arctic location, and emerging trade routes. 

Estimates range from $230 million—based on Alaska’s historic purchase price—to over $1.1 trillion when factoring in rare earth minerals, copper, and cobalt deposits crucial to modern technology.

Beyond the purchase price, the cost of integrating Greenland’s infrastructure and economy could push the figure to $1.5 trillion. 

Compensation for Greenland’s 57,000 residents could add another $5.7 billion to $57 billion, depending on payouts.

Why is Trump fixated with Greenland?

At a recent press conference, Trump described Greenland as vital to “national security and freedom.” He emphasized its strategic importance, citing its proximity to Europe and potential to monitor geopolitical rivals like Russia and China. “Greenland is a highway from the Arctic to North America,” former National Security Adviser Robert O’Brien explained, highlighting its role in emerging Arctic trade routes that could bypass the Panama Canal.

Greenland’s leaders have rejected Trump’s overtures. Prime Minister Mute Egede reaffirmed the island’s autonomy, stating, “Greenland belongs to the people of Greenland. Our future is ours to shape.” Denmark’s Prime Minister Mette Frederiksen echoed this sentiment, emphasizing respect for Greenlanders’ right to self-determination.

While the US has purchased territories before—such as Alaska and the Virgin Islands—international law now prioritizes self-determination. Any attempt to acquire Greenland would require Greenlandic and Danish approval, a treaty negotiation, and significant diplomatic maneuvering.