Only 338 people applied! Trump's "Million Dollar Gold Card" project falls far short of expectations

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The high-profile "Gold Card" visa program launched by the Trump administration has met with a lackluster response. The latest court documents reveal that this wealthy immigrant project, originally expected to generate trillions of dollars for the U.S. Treasury, has only 338 applicants, far short of the grand official projections.

According to the Financial Times on Thursday, the U.S. Department of Justice disclosed in a court filing that only 338 people have submitted formal applications for the Gold Card visa so far, of which 165 have paid the $15,000 visa processing fee, and just 59 have entered the Department of Homeland Security’s subsequent review phase. Commerce Secretary Howard Lutnick revealed in Congressional testimony last week that only one person has been approved, while “hundreds” remain in the queue waiting.

This figure stands in stark contrast to the project’s original vision. Lutnick publicly stated that if 200,000 visas were sold, the Treasury would net $1 trillion; Trump himself predicted sales of 1 million visas, with total income as high as $5 trillion. The disappointing number of applicants has raised serious doubts about the feasibility of the project.

Project Background: From High-Profile Launch to Multiple Price Cuts

The Gold Card visa program was officially launched by the Trump administration last year, positioned as a fast-track channel for wealthy people worldwide to obtain U.S. residency. Lutnick said the idea originally came from billionaire and Trump donor John Paulson, with the goal of increasing government revenue and helping to pay off the $37 trillion national debt.

In June last year, the Commerce Department launched the trumpcard.gov website, where potential applicants could fill in their name, email, and region. Lutnick told the Financial Times at the time that nearly 70,000 people quickly expressed interest.

In December last year, the government lowered the Gold Card price to $1 million, promising cardholders “record-speed” U.S. residency approvals. The official website also announced the upcoming launch of the $5 million “Trump Platinum Card,” allowing holders to stay in the U.S. for up to 270 days and exempting them from U.S. taxes on non-U.S.-sourced income.

Reality Check: Numbers Far Below Official Projections

In March this year, Lutnick told the “All-In” podcast that 1,000 visas had been “sold” and called them “Trump Cards.” However, the Department of Justice’s court documents revealed only 338 applicants, a clear discrepancy with those claims.

Officials also noted in the documents that the Gold Card program “has not impacted the processing of other visas”—while other visa categories have attracted tens of thousands of applications. This further underscores the marginalization of the Gold Card project.

In January this year, rapper Nicki Minaj publicly thanked Trump for gifting her a “free” Gold Card visa, but officials clarified that it was only a “souvenir,” as Minaj is already a legal permanent resident eligible for naturalization on her own.

Additionally, the program faces legal challenges. The American Association of University Professors has filed a lawsuit against the Gold Card program, accusing it of illegally replacing the current merit-based immigration system with a scheme selling visa eligibility to the wealthy.

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