This Day in History: Peter Minuit bought Manhattan on this day in 1626. Peter Minuit was a Wallonian merchant from Tournai, in present-day Belgium. He was the 3rd Director of the Dutch North American colony of New Netherland from 1626 until 1631, and 3rd Governor of New Netherland. He founded the Swedish colony of New Sweden on the Delaware Peninsula in 1638.
Minuit is generally credited with orchestrating the purchase of Manhattan Island for the Dutch East India Company from representatives of the Lenape, the area's indigenous people. Manhattan later became the site of the Dutch city of New Amsterdam, and the borough of Manhattan of modern-day New York City. A common account states that Minuit purchased Manhattan for $24 worth of trinkets. A letter written by Dutch merchant Peter Schaghen to directors of the Dutch East India Company stated that Manhattan was purchased for "60 guilders worth of trade", an amount worth ~$1,143 U.S. dollars as of 2020.
Manhattan is now worth Canada's entire GDP...up to 2 trillion dollars.
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