President Trump’s secretive $5 million “Gold Card” visa program, quietly launched in early 2025 with Elon Musk overseeing implementation, is facing bipartisan blowback for commercializing U.S. residency and allegedly bypassing Congress.
At a Glance
- Trump’s “Gold Card” visa offers U.S. green card privileges for a $5 million investment
- Elon Musk is overseeing a “quiet trial” phase under the Department of Government Efficiency
- The program would replace the EB-5 visa and exempt applicants from overseas income tax
- Trump claims to have already sold 1,000 visas, raising $5 billion
- Lawmakers and immigration experts raise legal, ethical, and policy concerns
Fast-Track for the Ultra-Rich
Unveiled without a formal legislative rollout, the Gold Card initiative is being tested through what Musk called a “quiet trial,” as reported by the Economic Times. Under this plan, wealthy foreign nationals can gain U.S. residency in exchange for a $5 million investment—and potentially bypass standard visa routes.
The visa reportedly offers a tax exemption on overseas income and fast-tracked citizenship, dramatically reshaping the balance of wealth-based immigration.
Watch a report: Trump launches $5M visa program for wealthy foreigners.
Legal and Political Blowback
Critics argue the program is operating without congressional approval and risks violating U.S. immigration norms. While Trump touts the plan as a way to “bring in wealthy, successful people who will spend and pay taxes,” lawmakers are pushing back.
Representative Ro Khanna warned, “You don’t need to have $5 million in your bank account to build a successful company in America,” pointing to immigrant innovators like Sundar Pichai and Sergey Brin as counterexamples (Newsweek).
Senator John Cornyn offered a more measured tone, calling it “the ultimate merit-based immigration,” though emphasized the need for proper legislation.
What’s Really on Sale?
The program’s lack of transparency—no clear application procedures, legal framework, or oversight—has sparked concern among immigration attorneys. Critics argue the plan could undermine merit-based immigration and create a two-tiered system privileging global billionaires.
While Trump claims to have already raised $5 billion through 1,000 early card sales, fact-checkers have not verified these figures. As Newsmax notes, no independent agency has confirmed the scope or structure of the trial.
A High-Stakes Immigration Gamble
If enacted formally, the Gold Card would replace the EB-5 program, which itself has faced scrutiny for abuse and mismanagement. While investment-based visas aren’t new, critics say the $5 million threshold—and the secrecy surrounding its rollout—marks a troubling shift in how citizenship is marketed.
As debate over immigration reform heats up, Trump’s high-dollar visa gambit may redefine the boundaries of wealth and nationality—but at what cost to equity and transparency?
