Topline

Just months after President Donald Trump first expressed interest in the United States possibly gaining control over Greenland, some of the richest people in the world—including Jeff Bezos, Bill Gates and Michael Bloomberg—began making strategic investments in the mineral-rich island.

Donald Trump gestures next to Ronald Lauder after a meeting on December 28, 2016 at Mar-a-Lago in Palm Beach, Florida.

AFP via Getty Images

Key Facts

Lauder Convinced Trump—then Invested In Greenland

John Bolton, Trump’s former national security adviser during his first term—and now prominent political enemy—told Forbes that Trump first discussed buying Greenland in late 2018, saying that “a prominent businessman he knew had suggested that the U.S. buy Greenland,” and later identifying the businessman as Lauder. Lauder and Trump have a long personal history. They attended the Wharton School of Business at the same time, and Lauder has been a longtime funder of conservative candidates and causes (in March of last year, Lauder gave $5 million to MAGA Inc., a super PAC that supports Trump, according to data from the Federal Election Commission). Lauder has since made no secret of his interest in Greenland and its resources. In an op-ed published in the New York Post last February, he laid out potential scenarios where the United States could assert greater influence over Greenland short of buying the country (as recently floated by the White House), including forming “a new trilateral agreement with Greenland and Denmark to formalize Arctic cooperation.” According to Politiken, the 81-year-old also invested in a local freshwater bottling company and is involved in a push to build a hydroelectric power station at Greenland’s largest lake through Greenland Development Partners, a consortium based in Delaware that owns a stake in Greenland Investment Group, which is chaired by former U.S. deputy secretary of state Josette Sheeran.

What Do We Know About Other Billionaire Investments?

Bezos, Gates and Bloomberg were first reported to have invested in Kobold in early 2019 when the company closed its Series A round—just months after Trump started looking into “buying” Greenland. The investments were made through Breakthrough Energy, a fund led by Gates whose stated aim is “to accelerate green energy innovation and build the industries of the future.” The fund also participated in Kobold’s Series C investment round in December 2024, which valued it at just shy of $3 billion based on a $537 million capital input, according to a press release shared by the company. Then, in 2022, Altman pitched in through his VC fund Apollo Projects, contributing to the firm’s Series B round, which had a total size of $192.5 million. An SEC filing from last week shows that Kobold is in the process of raising additional funds, meaning they could approach the billionaires again now that Greenland is in the spotlight. None of the billionaires named in this piece responded to Forbes’ requests for comment.

Bill Gates and Michael Bloomberg arrive for a meeting with the French President on December 12, 2017 at the Elysee palace in Paris.

AFP via Getty Images

News Peg

Early this week, Trump began escalating talk of taking control of the island as a matter of “national security,” telling reporters aboard Air Force One, “We need Greenland” on Monday, just days after a successful military intervention in Venezuela. White House adviser Stephen Miller’s refusal to rule out military intervention during an interview with CNN’s Jake Tapper further stoked the fire, leading European leaders to issue a joint statement in support of Greenlanders’ sovereignty. Secretary of State Marco Rubio and Speaker Mike Johnson have since stated that military action is not a serious possibility, with Johnson reassuring reporters that “this is not a thing.”

Crucial Quote: Musk Voices Support

Elon Musk, meanwhile, has publicly voiced his support for an American annexation of Greenland multiple times, writing, “If the people of Greenland want to be part of America, which I hope they do, they would be most welcome,” on X last January.

Donald Trump and Elon Musk sit in a Model S on the South Lawn of the White House on March 11, 2025.

Getty Images

Chief Critic

Lauder’s investments are unlikely to have “any economic substance,” says Arctic security expert Marc Jacobsen, an associate professor at the Royal Danish Defence College. “What is important here is the close link to Greenlandic decision makers. This is about strategy and gaining control.” Jacobsen told Forbes he has seen increased American presence in Greenland over the past few years, partly because of new direct flights between New York and the capital, Nuuk. “There are more Americans in Greenland than ever before…it can be difficult to know if they’re only tourists or if they also have an interest in ‘strategic investments’.”

Key Background

Trump acted cool the first time he was asked to confirm his interest in purchasing Greenland from Denmark in the summer of 2019. “It’s just something we talked about,” he told reporters standing in an airfield as he prepared to board Air Force One, adding: “Essentially, it’s a large real estate deal…It’s not number one on the burner, I can tell you that.” But when Danish Prime Minister Mette Frederiksen called the idea “absurd” later that month, Trump changed his tune and announced he was postponing a planned state visit to the northern European country through a tweet. His interest picked up again during his third presidential campaign, when he frequently started referring to Greenland as a missed opportunity. Shortly before his second inauguration, in December 2024, Trump called American “ownership and control” of Greenland “an absolute necessity” in a post announcing his nominee for ambassador to Denmark.