Donald Trump’s senior official, Howard Lutnick, has announced that the United States has raised $5 billion in a single day by selling 1,000 exclusive immigration gold cards, each priced at $5 million.
Speaking on the ‘All-In Podcast’, Lutnick, the U.S. Commerce Secretary, revealed that Trump envisions selling one million of these cards, potentially generating $5 trillion in revenue.
“There are 37 million people in the world who are capable of buying the card… The president thinks we can sell a million,” Lutnick stated.
The Initiative Behind the Gold Card Program
The Gold Card initiative was developed as part of the U.S. economic strategy to attract ultra-high-net-worth individuals who can contribute significantly to the nation’s economy. The program is designed to enhance foreign investment, create jobs, and stimulate economic growth while offering investors a fast-track pathway to U.S. residency.
Unlike the EB-5 investor visa, which requires a direct job creation component, the Gold Card provides greater flexibility for investors, allowing them to contribute through large-scale investments or business expansions in the U.S. economy.
Key objectives of the Gold Card program include:
- Boosting foreign direct investment (FDI)
- Reducing the national debt
- Strengthening the U.S. financial position
- Attracting global talent and business leaders
A New Alternative to the EB-5 Investor Visa
The Gold Card, also referred to as the “Trump Card”, was introduced as a replacement for the existing EB-5 investor visa program. According to Lutnick, over 250,000 people have already expressed interest in purchasing it.
The idea for the program reportedly originated during a discussion between Donald Trump and billionaire investor John Paulson. Lutnick explained that Trump came up with the concept, and his role was to figure out how to implement it.
“Trump calls me, gets me on the phone…then we talk about it,” Lutnick said. “My job is to work out how to do it.”
Funds to Reduce U.S. National Debt
A key aspect of the Gold Card initiative is its role in addressing the U.S. national debt, which currently stands at $36.2 trillion. Proceeds from the sales are being directed towards reducing the debt burden and strengthening the country’s financial stability.
To ensure a secure and efficient application process, Elon Musk’s team is developing a custom software platform for background checks on applicants, which will be operational in two weeks.
“You could do a better vet than anybody in the government has ever done earlier in one second,” Lutnick claimed.
While Gold Card holders have the option to apply for U.S. citizenship, many may choose not to in order to avoid U.S. global taxation laws.
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