U.S. President Donald Trump on Thursday unveiled a new immigration initiative, the “Gold Card,” which allows wealthy immigrants to obtain U.S. residency for $5 million. Speaking to reporters aboard Air Force One, Trump showed off the card, which features his face, and pitched it as a premium path to American residency.
“For $5 million, this could be yours,” Trump said. “You know what that card is? It’s the Gold Card, the Trump Card.”
When asked by a reporter who the first buyer was, Trump quipped, “Me.” He added that the cards would be available “in less than two weeks.”
$5 Billion Raised in a Single Day
Commerce Secretary Howard Lutnick recently announced that 1,000 Gold Cards had already been sold, generating $5 billion in revenue in a single day. Unlike American citizens, Gold Card holders will not be required to pay U.S. taxes on their overseas income.
Trump introduced the initiative in February as a replacement for the existing EB-5 investor visa program, which allows foreign investors to secure U.S. residency through significant business investments.
During the media briefing, Trump also defended his newly imposed tariffs, which have triggered turmoil in global markets. He dismissed concerns about the economic impact, stating, “We really inherited a terrible economy … with a lot of problems.”
Calling the day he announced the tariffs “Liberation Day,” Trump assured reporters that the U.S. economy would soon experience a major revival. “It’s gonna be a booming country … It’s going to be amazing, actually. We see it because we have trillions of dollars committed to come in.”
However, market reactions have been negative. In response to Trump’s trade war, the S&P 500 suffered its worst day since 2020, dropping 4.8%. While Trump has repeatedly claimed that tariffs are paid by foreign countries, economic experts point out that U.S. businesses importing goods bear the costs and typically pass them on to consumers.
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