Overview

• President Trump announced the 'gold card' visa program to replace the EB-5 visa, offering permanent residency for $5 million to high-net-worth individuals.
• Elon Musk's DOGE team is collaborating with government agencies to build an online application system for the program, set to launch within two weeks.
• Commerce Secretary Howard Lutnick claimed significant sales of the visas, but sources report no financial transactions have occurred yet.
• The program aims to reduce visa processing time to two weeks, bypassing traditional job creation and lengthy vetting requirements.
• Key personnel involved, including Marko Elez and Edward Coristine, have controversial pasts, raising concerns about oversight and ethical implications.