Trump ‘Gold Cards’ Sold Out in 24 Hours, Generating $5 Billion in Revenue

By Ronnie Law

So this week, the U.S. Commerce Secretary Howard Lutnick announced Thursday that a first batch of 1,000 exclusive “Gold Cards”  a Trump administration initiative offering permanent U.S. residency — sold out in just 24 hours, generating a staggering $5 billion in federal revenue.

Each card, priced at $5 million, grants the purchaser permanent residency in the United States. While recipients can eventually apply for citizenship, Secretary Lutnick noted that many may choose not to do so, due to the burdensome global taxation requirements that come with U.S. citizenship. This nuance makes the card especially attractive to ultra-high-net-worth individuals seeking the lifestyle and privileges of U.S. residency without the full financial implications of becoming a citizen.

When this was announced, most people didn't think the president was serious. It amazing to see that this is being implemented and it's at work already. 

In more context, the concept of the Gold Card originated from a discussion between the 47th President, Donald Trump and billionaire investor John Paulson. The goal was to turn immigration into a revenue-generating enterprise by selling residency to the ultra-wealthy instead of giving it away. These people being attracted to the United States would be a big win for the nation. 

To be honest, this idea was seen as bold as it is simple: monetize one of the most desirable privileges in the world — the right to live in the United States and eventually a citizen. And it's working.

If just 1 million out of the estimated 37 million people worldwide who could afford the card actually purchase one, the initiative could theoretically generate a massive $5 trillion in revenue for Uncle Sam. Not bad for a plan once dismissed as far-fetched.

By and large, this development marks a significant shift in how residency, and by extension, immigration policy is being reimagined at the highest levels of American government with the business minded Trump in charge. Whether controversial or innovative, it’s certainly... interesting and worthy of our attention. 

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