Fast Money, Fast Track
Commerce Secretary Howard Lutnick dropped an eye-popping number at a drug pricing press conference on Friday: the Trump Gold Card program has already racked up $1.3 billion in sales just days after launch. When President Donald Trump asked him about the figures, Lutnick replied, "1 billion 300 million worth in a matter of a couple of days."
Trump calls the initiative a "green card on steroids," and the pitch is straightforward. Pay up, and you get fast-tracked U.S. residency with some serious perks. Lutnick highlighted how the program benefits American companies hunting for top talent, especially graduates from elite universities who can now stay in the country and work for major U.S. firms.
Trump emphasized where the money goes: "goes toward reducing debt. Goes into the Treasury of the United States." So the government is essentially selling residency slots and funneling the proceeds straight into debt reduction.
Three Flavors of Golden Tickets
The Trump administration officially rolled out these programs earlier this month, though the concept has been brewing for months. After initially pricing the Gold Card at $5 million, Trump slashed it to $1 million in September, promising expedited residency for wealthy applicants.
Now there are three tiers: the $1 million Gold Card for individuals, the $2 million Corporate Gold Card (which lets companies sponsor select employees for fast-track residency), and the $5 million Platinum Card. The Platinum version offers extended U.S. stays with a major sweetener: no tax on foreign income.
Not Everyone's Buying The Hype
Nuri Katz, founder of Apex Capital Partners and a specialist in immigration investment programs, wasn't impressed by the price cut. He called it an "admission of failure," arguing it raises serious doubts about whether the program can actually deliver on its promises.
Immigration policy has been central to Trump's agenda throughout his presidency, and this program fits right into that pattern. The administration recently suspended the U.S. Green Card lottery program in December following the Brown University and MIT shootings, showing how quickly policy can shift in response to events.
Whether the Gold Card becomes a sustainable revenue stream or a controversial footnote remains to be seen. But pulling in over a billion dollars in a few days? That's certainly gotten people's attention.