TechFlow news, according to Jinshi News, U.S. Commerce Secretary Howard Lutnick recently defended Trump's proposed "Gold Card" visa program, claiming that "250,000 people are already queuing up" to apply. If each person 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 immigrant investor visa applications ranges only between 24,000 and 60,000—far below Lutnick’s claimed 250,000.
Trump previously stated that the "Gold Card" program would replace the existing EB-5 immigrant investor visa program, allowing wealthy foreigners to obtain permanent U.S. residency by investing $5 million, with no cap on the number of visas issued. In contrast, the current EB-5 program requires investors to invest at least $1 million (or $800,000 in targeted employment areas), and create a minimum of 10 full-time 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 "Gold Card," as many applicants are not ultra-wealthy. Global data indicates that only about 424,000 individuals have net assets of $30 million or more, of whom 277,000 reside outside the United States.
