Commerce Secretary Howard Lutnick said he sold 1,000 of President Donald Trump's new $5 million “Trump Cards” in just one day this week, generating $5 billion in revenue.
In a recent “All-In Podcast” appearance, Lutnick described the fast-moving rollout of the program, which grants wealthy foreigners U.S. residency through a new immigration initiative. “Elon’s building me the software right now,” Lutnick said, referring to Elon Musk‘s involvement in the project. “And by the way, yesterday I sold a thousand.”
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A Big Swing at U.S. Debt
Trump has pitched the Trump Card, also known as the “Gold Card,” as a way to both attract high-net-worth individuals and chip away at the national debt. “If we sell a million — that’s $5 trillion… if we sell 10 million, which is possible… that’s $50 trillion,” Trump told reporters recently in the Oval Office. “That means our debt is totally paid off, and we have $15 trillion above that.”
Grant Cardone, a real estate mogul and vocal Trump supporter, praised the plan on social media. “Smart way to attract money & bring in more conservative voters,” he wrote. “These people bring with them purchasing power and investments and spend money and create jobs.”
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Cardone believes the program is a more practical and secure alternative to the existing EB-5 visa program, which has faced criticism over fraud and inefficiencies. Lutnick echoed that sentiment on the podcast, saying the EB-5 program was “full of nonsense, make-believe, and fraud.”
Mark Cuban Suggests a Corporate Twist
Entrepreneur Mark Cuban added his own twist to the idea, suggesting that companies should be able to buy Trump Cards for their top foreign employees. “The H-1B visa game is ridiculous,” Cuban wrote on X. “Go to companies and tell them, $5M for any employee making over $500K, and they get immediate citizenship if they pass an advanced background check.”
He argued that if companies aren't hiring American workers, they should at least contribute to the tax base for the privilege of hiring talent from abroad.
Big Goals, Big Tech
Lutnick has described a vision of using top U.S. tech companies to modernize outdated government systems. He said companies like SpaceX, Google, and Microsoft are helping build tools for the Trump administration, often at no charge.
“I say, ‘Build it for me for free,'” Lutnick said. “Then I use my superpower, which is my friendship with Donald Trump, and we call the CEO together.”
The Gold Card, Lutnick said, would only be available to thoroughly vetted applicants and could be denied or revoked if the individual fails to meet certain standards. When asked about Russian oligarchs potentially qualifying, Trump said, “Hey, I know some Russian oligarchs that are very nice people… I think they could afford $5 million.”
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