In a stunning financial windfall, former U.S. President Donald Trump‘s newly introduced ‘Gold Card’ program has reportedly sold 1,000 cards within 24 hours, raking in a whopping $5 billion. The program offers permanent residency in the United States for a hefty price tag of $5 million per card.
Record-Breaking Demand
U.S. Commerce Secretary Howard Lutnick revealed the impressive figures during an appearance on the ‘All-In Podcast,’ emphasizing the overwhelming interest from affluent individuals seeking secure entry into the United States. According to Lutnick, the official rollout of the program is set for two weeks from now, with tech magnate Elon Musk actively developing the necessary software infrastructure.
Residency Without Global Taxation
A key feature of the Gold Card program is its unique tax advantage. Unlike U.S. citizens who are taxed on their worldwide income, Gold Card holders will only be subject to taxation on earnings generated within the United States.
“If you’re a U.S. citizen, you pay global taxes, which can be a deterrent for wealthy outsiders,” Lutnick explained. “With the Gold Card, you gain permanent residency without the burden of global taxation. Citizenship remains optional.”
Ambitious Goals and Economic Impact
Research conducted alongside the Trump administration estimates that around 37 million people globally possess the financial capability to purchase a Gold Card. Lutnick mentioned that Trump envisions selling up to one million cards, a target that could significantly bolster the U.S. economy.
In a bid to address the national debt, the proceeds from Gold Card sales are expected to contribute directly to reducing the country’s financial burden. Trump previously stated that there would be no cap on the number of cards issued, positioning the program as a potentially limitless source of revenue.
With its initial success already making headlines, the Gold Card initiative is shaping up to be one of the most lucrative residency programs ever introduced. As the official launch approaches, all eyes are on how this ambitious project unfolds in the coming weeks.
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