US President Donald Trump unveiled a controversial plan on Tuesday to sell new “gold card” residency permits for $5 million each. This high-priced version of the traditional green card is aimed at attracting wealthy individuals, job creators, and potential investors, with the goal of bolstering the US economy and reducing the national deficit. Trump emphasized that the card would serve as a pathway to coveted US citizenship and would be available for purchase in about two weeks.
The sales of these cards would potentially raise significant revenue, with Trump suggesting that as many as a million could be sold. He stated that applicants for the new gold cards would undergo careful vetting.
When asked about the possibility of Russian oligarchs applying, Trump said it was “possible,” noting that some Russian oligarchs are “very nice people” and that they could afford the $5 million price tag, despite sanctions affecting their wealth. Trump also mentioned that lifting sanctions on Russia could be considered “at some point,” though it was not currently on the table.
Trump’s proposal also included the idea of using the revenue from gold card sales to help reduce the national deficit, with US Commerce Secretary Howard Lutnick supporting the initiative. In a lighthearted moment, Trump even joked about the possibility of the cards being named “Trump gold cards.”
