Russian Emperor Alexander the Second sold the entire territory of Alaska to the United States in 1867 for just seven point two million dollars, which equates to about two cents per acre.

A closer look

Russian Emperor Alexander the Second sold the entire territory of Alaska to the United States in 1867 for just seven point two million dollars, which equates to about two cents per acre. The Russian government genuinely believed the frozen wasteland was completely useless and practically indefensible, completely unaware they were handing over one of the most lucrative oil and gold reserves on the entire planet. American newspapers heavily criticized the purchase at the time as a massive waste of taxpayer money, proving that absolutely nobody involved in this transaction had any economic foresight whatsoever. It stands as the worst real estate blunder in geopolitical history, essentially gifting a geopolitical rival a massive money printer wrapped in glaciers