US President Donald Trump has recently highlighted Greenland as a national security interest. This focus, however, appears to be linked to the interests of the American technology sector. Greenland’s large territory, significant mineral resources, and sparse population make it an attractive gateway for acquiring resources vital to advanced industries. In this context, a US acquisition of Greenland might not be unexpected. American tech billionaires heavily supported Trump’s 2024 campaign, funding that often comes with expectations.
Greenland first captured Trump’s attention in August 2019 during his first presidency. He described it then as “a large real estate deal” and mentioned contemplating the idea. At that time, though, it was not a priority. By 2024, Trump’s priorities had evolved. He canceled a visit to Denmark after the Danish Prime Minister stated Greenland was not for sale. During his 2024 election campaign, Greenland was repeatedly mentioned as a missed opportunity. A month before his second term, Trump emphasized that American “ownership and control” of Greenland was “an absolute necessity.”
This focus on Greenland seems aligned with existing tech ambitions rather than originating from Trump himself. Over the past decade, a consortium of tech billionaires, venture capital funds, and speculative startups has quietly established interests around Greenland. President Trump emerged as a political ally willing to convert these private technological ambitions into governmental actions. Greenland is particularly appealing due to its rare earth mineral reserves, essential for modern electronics. Since Trump’s first presidency, figures like Bill Gates, Michael Bloomberg, and Jeff Bezos have shown continued interest. Forbes reports that these billionaires have been investing in KoBold Metals since 2019, alongside Gates’ Breakthrough Energy fund. In 2022, OpenAI’s founder Sam Altman also invested via his Apollo Projects venture capital firm. Reports suggest backing from Mark Zuckerberg and hedge fund Andreessen Horowitz.
Apart from mineral extraction, Greenland is also a potential site for experimental governance and financing models in the crypto space. Peter Thiel, a longtime ally of Trump, has supported Praxis, a startup led by CEO Dryden Brown, which aims to establish a “network state.” This project has publicly considered Greenland as a site and raised over $525 million to develop a new city, centered on reduced regulation and tokenized real-world assets. As Greenland gains attention, various ventures are positioning for access. These private interests are no longer peripheral; they increasingly intersect with Trump’s administration.
Individuals with ties to companies positioned to benefit from Greenland’s resources now hold significant policy-influencing roles in the US government. Howard Lutnick, Trump’s commerce secretary, previously led Cantor Fitzgerald, associated with a hedge fund backing Critical Metals Corp, a company pursuing Greenland-linked mineral projects. According to The New Republic, investors in this company have significant overlap with Trump Media backers who contributed millions to Trump’s presidential campaign. Furthermore, US diplomatic appointments reflect this convergence. Last month, Trump appointed Ken Howery, a former venture capitalist, as the US ambassador to Denmark. Howery, a former PayPal executive, has longstanding ties with Peter Thiel and Elon Musk.
As Greenland becomes more central to US strategic interests, national security serves more as a justification than the primary motive. The real momentum seems driven by influential billionaires with clear commercial interests on the island. This evolving scenario underscores the intricate connections between private wealth and governmental policy under the Trump administration.
The spotlight on Greenland highlights an intersection of private enterprise and public policy, where tech billionaires wield significant influence over strategic national decisions. As developments unfold, stakeholders will closely monitor potential policy shifts and their implications for both economic and diplomatic landscapes.
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