After Trump's Greenland Spotlight, Tech Titans Chase Arctic Wealth

Greenland was once a frozen afterthought on the world map, but after Donald Trump reignited his desire to bring the vast Arctic island under US control, it has become the centrepiece of a geopolitical storm. US President Donald Trump has reignited his ambition to bring the vast Arctic island under US control, framing it as a matter of national security. His rhetoric has transformed Greenland from a quiet outpost into one of the most contested prizes on Earth.

While Trump talks about ownership and military power, tech titans are already quietly staking their claims, pouring money into mining ventures and futuristic projects. The Arctic, long overlooked, is now the frontier of global competition.

Trump Puts Greenland Back At The Centre of Global Power

President Donald Trump has made it clear that he wants Greenland, and he has not softened his tone. In recent interviews, he said the United States must take control of the island because ownership gives power that no agreement ever could. Officials from Washington, Copenhagen and Nuuk have already met to discuss the renewed push, with another round of talks planned soon.

Trump has warned that if it is not done the easy way, it will be done the hard way. Danish Prime Minister Mette Frederiksen has fired back, saying any American takeover would mark the end of NATO. Greenlanders themselves have also rejected the idea of becoming part of the United States.

Yet behind the political storm sits a deeper reality. Greenland is rich in rare earth minerals that are vital for modern technology, from smartphones to electric vehicles. It also sits at a strategic Arctic crossroads that matters for defence and trade. Experts say Washington ignored the region for decades and is now scrambling to catch up as Russia and China expand their Arctic reach.

Billionaires Quietly Move In As the Arctic Heats Up

While Trump talks publicly, billionaires have been moving quietly. Jeff Bezos, Bill Gates and Michael Bloomberg have all invested in a mining company called KoBold Metals, which uses artificial intelligence to search for rare earth minerals in Greenland. Their backing began in 2019, just months after Trump first floated the idea of buying the island.

Their money went through Breakthrough Energy, a fund led by Gates that claims to support green innovation. KoBold later raised more funds in December 2024, valuing the company at nearly £2.4 billion, which is about $3 billion. Sam Altman, the head of OpenAI, also joined in during 2022 through his venture capital fund.

Peter Thiel has taken a different path. The Paypal and Palantir billionaire funded a startup called Praxis in 2021, which aims to build a so called freedom city in Greenland. The idea is to create a tech-driven private zone where companies can operate with minimal regulation. Critics have described it as a form of corporate takeover dressed up as innovation.

None of these billionaires have publicly commented on their Greenland moves, but filings show Kobold is now raising more money, which could draw them even deeper into the Arctic rush.

Old Money and Political Links Raise Awkward Questions

The Arctic scramble is not just about Silicon Valley. Ronald Lauder, heir to the Estée Lauder fortune, is widely credited with giving Trump the idea of taking Greenland during his first term. Former national security adviser John Bolton confirmed this link.

Lauder has since invested in a struggling Greenlandic bottled water company that is co-owned by Jørgen Wæver Johansen, a leading figure in Greenland's governing Siumut party and the husband of the foreign minister Vivian Motzfeldt. Danish media have raised concerns that this could blur the line between business and politics at a sensitive moment for the island.

As foreign money flows in, many in Greenland worry about losing control over their own future. The island has only about 57,000 people and no military of its own. Defence is provided by Denmark, whose armed forces are far smaller than those of the United States.

Why Greenland Could Trigger A Global Crisis

Experts warn that a forced takeover of Greenland would shake the world. Imran Bayoumi of the Atlantic Council says the sudden obsession with the Arctic reflects a realisation that the US lacks a clear strategy there. Taking Greenland by force would push NATO into a deep crisis, since Denmark is a member of the alliance.

No one knows how other NATO countries would react if the US moved against Denmark. Some might see it as an attack on the alliance itself. Others might hesitate to challenge Washington. Either way, it would rewrite the rules of global politics.

For now, Greenland sits between two forces. On one side is Trump, talking about ownership and power. On the other are billionaires, investing quietly in mines, data and futuristic cities. Together, they have turned a frozen island into the world's next great prize, and the race for Arctic wealth is only just beginning.