Trump $1 Million 'Gold Card' Visa Has Approved Only One Applicant So Far
Commerce Secretary Howard Lutnick told Congress this week that the White House's $1 million "Gold Card" investor visa has approved only one applicant since the program launched in December. ABC News
Lutnick's testimony conflicts with his earlier claim that the government sold $1.3 billion worth of cards in days, a discrepancy he did not address at the hearing. MS NOW Lutnick also reiterated a projection the program could raise as much as $1 trillion, and officials say each applicant pays a $15,000 processing fee while corporations may pay $2 million plus a 1% annual maintenance fee. ABC News
The episode traces back to President Trump's February 2025 proposal to replace the EB-5 investor visa with a for-sale "Gold Card" model that once envisioned $5 million visas and $50 trillion in revenue. The plan was scaled to a $1 million individual investment by executive order in September 2025 and launched on a government website featuring the president's image and a planned $5 million "Trump Platinum Card" variant. ABC News A coalition of immigrant groups and a university professors' union sued last February, challenging the program's legality, and existing EB-5 data shows thousands used the older investor route in recent years — 11,930 received conditional residency in fiscal 2023 while 4,848 new EB-5 petitions arrived in fiscal 2024.
Coverage has moved from the initial rush framing to scrutiny of those early claims after Lutnick's congressional remarks. Early public statements about rapid sales led outlets to report big early demand, but recent reporting highlights the single approval and unanswered questions about vetting, sales claims, and legal risk. CBS News MS NOW
Observers on social media are split; some portray the lone approval as a sign of strict vetting and a slow but steady start, while others call it an underwhelming rollout that raises doubts about the program's ability to attract large-scale foreign investment.
Show source details & analysis
📊 Relevant Data
In fiscal year 2023, 11,930 individuals received conditional lawful permanent resident status through the EB-5 immigrant investor program. ([Congressional Research Service](https://www.congress.gov/crs-product/IF13040)) ([Congressional Research Service](https://www.congress.gov/crs-product/IF13040)) ([Congressional Research Service](https://www.congress.gov/crs-product/IF13040)) ([Congressional Research Service](https://www.congress.gov/crs-product/IF13040))
Overview of the EB-5 Immigrant Investor Program — Congressional Research Service
In fiscal year 2024, USCIS received 4,848 new EB-5 immigrant investor petitions. ([Congressional Research Service](https://www.congress.gov/crs-product/IF13040)) ([Congressional Research Service](https://www.congress.gov/crs-product/IF13040)) ([Congressional Research Service](https://www.congress.gov/crs-product/IF13040)) ([Congressional Research Service](https://www.congress.gov/crs-product/IF13040))
Overview of the EB-5 Immigrant Investor Program — Congressional Research Service
📌 Key Facts
- Commerce Secretary Howard Lutnick told Congress the $1 million “Gold Card” visa program has approved exactly one person since launching in December.
- 1,000 Gold Cards, Lutnick previously claimed on a podcast, and that he raised $1.3 billion — a claim that his congressional update contradicts and that he did not explain at the hearing.
- The program’s cost structure requires individual applicants to invest $1 million plus a $15,000 fee, while corporations can pay $2 million plus a 1% annual maintenance fee for an employee under the program, according to reporting on Trump's 'gold card' visa.
- Lutnick reiterated earlier projections that the program could raise $1 trillion to help balance the federal budget, despite the program’s current single approval, per the ABC News report.
- The initiative is explicitly framed as a replacement for the EB-5 investor visa and is marketed on a government website featuring President Trump’s image and a planned $5 million “Trump Platinum Card” variant, as detailed in the ABC News story.
- President Trump previously claimed the program could generate $50 trillion in revenue, a projection highlighted to underscore the gap between earlier statements and actual uptake, per MS NOW.
- A coalition of immigrants and an academic labor union filed a lawsuit against the Gold Card program two months earlier, creating a potential new legal challenge to its rollout, according to MS NOW.
📰 Source Timeline (3)
Follow how coverage of this story developed over time
- Reiterates, with AP attribution, that Commerce Secretary Howard Lutnick told Congress under oath that only one 'Gold Card' visa has been approved.
- Highlights that Lutnick previously claimed on a podcast that 1,000 Gold Cards were sold and $1.3 billion raised, and notes he did not explain the discrepancy during the hearing.
- Recalls President Trump’s prior statement that the program could generate $50 trillion in revenue, underscoring the gap between projections and actual uptake.
- Notes that a coalition of immigrants and an academic labor union filed a lawsuit against the Gold Card program two months earlier, posing a potential new legal challenge.
- Commerce Secretary Howard Lutnick told Congress the $1 million 'gold card' visa program has approved exactly one person since launching in December.
- Lutnick’s update contradicts his earlier claim that the government had sold $1.3 billion worth of gold cards in several days, a discrepancy he did not address at the hearing.
- Each applicant must pay a $15,000 fee in addition to the $1 million investment, and corporations can pay $2 million plus a 1% annual maintenance fee for an employee.
- Lutnick reiterated earlier projections that the program could raise $1 trillion to help balance the federal budget, despite the current one-approval record.
- The program is explicitly framed as a replacement for the EB-5 investor visa and is marketed via a glitzy government website featuring Trump's image and a planned $5 million 'Trump Platinum Card' variant.