Overview

• President Trump showcased the $5 million 'Gold Card' to reporters, highlighting its design and his personal purchase as the program's first buyer.
• The program aims to replace the EB-5 visa, simplifying immigration for wealthy individuals and generating significant revenue for the U.S. government.
• Commerce Secretary Howard Lutnick confirmed the sale of 1,000 Gold Cards in late March, raising $5 billion in a single day, though the program has not officially launched.
• Unlike the EB-5 visa, the Gold Card program removes investment preferences for rural or high-unemployment areas, raising concerns about fairness and potential corruption.
• The administration estimates that over 37 million people globally could afford the card, positioning it as a tool to address the $36.5 trillion national debt.