AsianFin -- In recent weeks, U.S. President-elect Donald Trump has made headlines by publicly expressing his desire to purchase Greenland, citing national security concerns as countries vie for control over the Arctic region.
David Barker, a real estate developer, shared his insights with The New York Times, noting that the value of Greenland depends on multiple factors. He drew comparisons to notable U.S. land purchases in history, including Alaska and the U.S. Virgin Islands.
In 1867, the U.S. bought Alaska for less than 2 cents per 10,000 square feet, an amount that would be worth over $150 million today. In 1917, the U.S. acquired the Virgin Islands from Denmark for $25 million, or roughly $657 million in today's dollars.
Barker used the Virgin Islands purchase as a baseline and explained that, considering Denmark’s GDP has grown 500-fold since 1917, Greenland's value could be estimated at $12.5 billion. Alternatively, using the value of Alaska in comparison to current U.S. GDP, Greenland's worth could climb as high as $77 billion.
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