Mar 24, 202511870 Views
Mar 24, 2025
On March 24th, U.S. Commerce Secretary Lutnick claimed to have raised $5 billion by selling 1000 gold cards at a price of $5 million each, although there is currently no formal application system in place. "Yesterday I sold 1000," Lutnick said on a podcast discussing the designed immigration plan. The proposed gold card by the Trump administration would grant wealthy foreign investors permanent residency in the U.S. without the requirement of creating job opportunities as required by the current EB-5 program. In the podcast, Lutnick explained that Musk is "developing software" for the application process, with plans to launch in approximately two weeks. This ongoing development indicates that the reported card sales may represent a principle agreement rather than completed transactions. Trump had previously estimated that selling 1 million gold cards could generate $5 trillion in revenue. The timetable for officially opening applications has not yet been determined, and the plan may require congressional approval to be implemented.
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