Donald Trump's new “Gold Card” visa—offering US citizenship in exchange for a direct $5 million payment—has become a lightning rod for debate, especially as his administration cracks down on undocumented immigrants. Despite its steep price, Commerce Secretary Howard Lutnick claimed that “1,000 Gold Cards are sold daily,” speaking on the All-In Podcast.
“There are 37 million people in the world who are capable of buying the card... The president thinks we can sell a million,” Lutnick added.
According to Lutnick, the idea for the Gold Card came out of a meeting between Trump and investor John Paulson. Lutnick was then brought in to help shape the initiative. “Elon Musk is building the software,” he noted.
The Gold Card would replace the current EB-5 investor visa program, streamlining access to permanent residency in the US. Lutnick said the card would effectively offer green card rights without the wait, giving buyers indefinite stay. While the option to pursue citizenship remains, many may avoid it to sidestep America’s global taxation laws.
“If I wasn't American, I would buy six Gold Cards—one for me, one for my wife, and other family members,” Lutnick said, citing the benefit of having the US as a backup plan during crises.
Trump said the program would have no cap on the number of cards issued. The EB-5 visa it's set to replace currently requires an investment of at least $1 million—or $800,000 in low-income areas—and supports job creation.
Gold Card vs. EB-5: What’s different?
The EB-5 visa requires a minimum investment of $1.05 million (or $800,000 in Targeted Employment Areas) and mandates the creation of at least 10 full-time US jobs. In contrast, Trump’s Gold Card requires a direct $5 million payment to the US government, with no job creation requirement.
The EB-5 process is lengthy, but it offers permanent residency and a path to citizenship. Meanwhile, the Gold Card aims to fast-track both residency and citizenship, although details remain vague.
Another key difference: The EB-5 program is capped at 18,786 visas annually, whereas the Gold Card could be unlimited, catering exclusively to ultra-high-net-worth individuals (UHNWIs).
However, not everyone is sold. Forbes spoke with 18 billionaires globally; 13 said they weren’t interested. “If you’re a billionaire, you don’t need it,” said a Canadian billionaire. “I do not understand who will pay $5 million,” added a Russian counterpart.
Abhay Soi, chairman of India’s second-largest hospital chain, summed it up: “I wouldn’t want to be a citizen of any country other than India anytime—particularly in this century.”