US Commerce Secretary: 250,000 people are already queuing to apply for Trump's "Golden Card" program
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US Commerce Secretary: 250,000 people are already queuing to apply for Trump's "Golden Card" program
According to Jinshi, U.S. Commerce Secretary Howard Lutnick recently defended Trump's proposed "Gold Card" visa program, claiming that "250,000 people are already lining up" to apply. If each applicant pays $5 million, it would generate "over $1 trillion" in revenue for the U.S., which could be used to stimulate the economy and pay down national debt. However, the accuracy of this figure has been questioned. The report notes that the program has not officially launched yet and is expected to begin implementation in two weeks. Analysis shows that the current backlog for EB-5 investment immigrant visas is only
Navigating Web3 tides with focused insightsTechFlow news, according to Jinshi News, U.S. Commerce Secretary Howard Lutnick recently defended Trump's proposed "Golden Card" visa program, claiming that "250,000 people are already lining up" to apply. If each applicant pays $5 million, it would generate "over $1 trillion" in revenue for the United States, which could be used to stimulate the economy and pay down national debt.
However, the accuracy of this figure has been questioned. The report notes that the program has not officially launched yet and is expected to begin implementation in two weeks. Analysis shows that the current backlog of EB-5 investment immigration visa applications ranges between 24,000 and 60,000—far below Lutnick’s claimed 250,000.
Trump previously stated that the "Golden Card" program would replace the existing EB-5 investment immigration visa program, allowing wealthy foreigners to obtain permanent U.S. residency by investing $5 million, with no cap on the number of cards issued. In contrast, the current EB-5 program requires investors to invest at least $1 million (or $800,000 in low-income areas) and create a minimum of 10 jobs.
Analysts point out that even among those currently waiting for EB-5 visas, few are likely able to afford the $5 million investment required for the "Golden Card," as many applicants are not ultra-wealthy. Global data indicates that only about 424,000 people have a net worth of $30 million or more, with 277,000 of them living outside the United States.
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