At $5 Million Each, 1000 ‘Gold Card’ Visas Have Been Sold. Could This Pay Off The US Debt?

In a move that has sparked both intrigue and controversy, U.S. Commerce Secretary Howard Lutnick announced the sale of 1,000 Gold Cards this week, raising $5 billion in a single day. Priced at $5 million each, President Trump introduced these Gold Cards in February 2025, as an opportunity for wealthy foreign citizens to work and live in the United States, granting them permanent U.S. residency and effectively replacing the EB-5 immigrant investor visa program.

EB-5s were created in 1990 as a method for immigrants to obtain green cards if they invested at least $800,000 to $1 million in a company that employs at least 10 people. In 2024, more than 12,000 EB-5 visas were issued.

The Gold Visas concept, which was reportedly born from a conversation between financier John Paulson and former President Donald Trump, has already ignited some debates across political, economic and social spheres, especially regarding its fairness. While the financial implications are undeniably significant, the program raises questions about equity and ethics. What will be the long-term impact on U.S. immigration policy? And will U.S. immigration eventually become pay to play only?

Could The Gold Card Pay Off The US Debt?

The U.S. national debt currently exceeds $36.22 trillion, a figure that increases an average of $4.87 billion per day, or $202.94 million per hour. Mr. Lutnick’s Gold Card initiative aims to provide a direct and substantial infusion of capital to address this mounting fiscal challenge. He estimates that 37 million people worldwide can afford to buy the Gold Card, and they currently sit in the addressable market.

From a purely economic perspective, the numbers are compelling. If 200,000 Gold Cards are sold at $5 million each, the resulting $1 trillion could make a meaningful dent in the national debt. Scaling the program to 10 million cards would generate $50 trillion, theoretically erasing the debt entirely and freeing up resources for infrastructure, education, healthcare and other critical investments.

However, the program’s reliance on ultra-wealthy individuals raises concerns about the broader implications for economic equity among those seeking to become American citizens. It effectively monetizes U.S. residency, creating a two-tiered system where the wealthy can bypass traditional immigration pathways through the Gold Card, while others face significant barriers.

Is Selling Residency Without Citizenship A Good Idea?

The Gold Card program fundamentally shifts the narrative around U.S. residency, framing it as a commodity rather than a privilege earned through traditional processes. While new for the U.S., Golden Visa are sold in places like the United Arab Emirates, where foreign nationals can obtain a 10-year Golden Visa, if they invest AED 2 million ($545,000) in real estate in the country. Portugal, Spain and Italy, among others, offer options as well.

Historically, U.S. immigration policy has been rooted in principles of opportunity, diversity and merit. The introduction of a more formal pay-to-play system challenges these ideals, possibly undermining public trust in the fairness and integrity of the immigration process. It also raises questions about the message this sends to the global community. Is the U.S. prioritizing financial gain over its commitment to being a beacon of hope and opportunity for the most talented? Not yet, but with scale, perhaps.

While Gold Card holders will have the right to apply for citizenship, the program’s design appears to cater to individuals who might not fully integrate into American society. Mr. Lutnick has acknowledged that most buyers will likely avoid it to sidestep U.S. taxation, creating a scenario where wealthy individuals can enjoy the benefits of U.S. residency without fully participating in its civic responsibilities.

Another potential issue is the impact on housing markets and local economies. An influx of ultra-wealthy residents could drive up property values in desirable areas, exacerbating affordability challenges for middle- and lower-income Americans. This gentrification could deepen existing economic divides, fueling new social tensions regarding immigration.

While background checks are in place, there’s also concern the program could attract bad actors seeking to exploit loopholes or engage in fraudulent activities in the U.S. Thus, to maintain its credibility, the program requires robust oversight and accountability to those approved.

Balancing New Ideas with Integrity Is The Future

The Gold Card initiative represents a bold and innovative approach to addressing the U.S. national debt and could be the start of a new, more capitalistic approach to U.S. immigration demand. However, its success will likely depend on who gets approved and how they’re positioned. As of right now, the visa holder’s identities remain private. Will their names and faces be highlighted as part of the program, and will those granting the visas ensure that these individuals align with the nation’s values and long-term interests?

What remains to be seen is whether the Gold Card program will be remembered as a visionary solution to the nation’s fiscal challenges, or as a cautionary tale of what happens when financial ambitions take center stage.