Trump Ally Ronald Lauder Invests in Greenlandic Companies, Including Major Hydropower Project

Billionaire's Strategic Investments in Greenland

Ronald Lauder, the billionaire heir of Estée Lauder and a prominent ally of former U.S. President Donald Trump, has reportedly secured ownership stakes in various Greenlandic companies. These investments, revealed through an investigation by the Danish newspaper Politiken, are being made via Greenland Development Partners, a Delaware-registered investor consortium. Lauder, aged 81, has begun investing directly in the autonomous Danish territory.

Key Holdings and Hydropower Ambitions

Among Lauder's notable investments is a stake in the Greenland Investment Group. This entity has expressed considerable interest in bidding for a major hydropower project located at Lake Tasersiaq, Greenland's largest lake. The proposed hydropower development is envisioned as a crucial energy source for a future aluminum smelter, with projections indicating it could substantially increase Greenland's export revenues and bolster its public finances.

Lauder's involvement also extends to Greenland Water Bank, a smaller enterprise that bottles water from the Lyngmark Spring in Qeqertarsuaq on Disko Island, marketed under the brand 'Imivik'. Greenland possesses vast untapped hydropower potential, with the Tasersiaq area alone estimated to exceed 7,000 GWh annually.

Geopolitical Context and Official Stance

The investments by Ronald Lauder carry a geopolitical dimension, particularly given his past. Lauder is widely recognized for having initially suggested to Donald Trump the idea of the United States purchasing Greenland. This historical context has led some experts to view the current investments as a convergence of business and geopolitics in the Arctic, prompting warnings of potential strategic motives.

In response to such foreign investments, Naaja Nathanielsen, Greenland's Minister for Business and Minerals, has affirmed that all investment cases are processed in accordance with established governance rules. She also noted that a new investment-screening law is anticipated in 2025 to further regulate such activities.