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Trump’s “Million-Dollar Gold Card” Meets a Cold Reception: Only 1 Person Approved, the Trillion-Yuan Cash-In Target Falls Short
BlockBeats News, April 25th, according to Fortune, the U.S. “Golden Visa” program is progressing slower than expected. Commerce Secretary Howard Lutnick revealed that only 1 person has been approved for the program so far, a significant gap from the previous claim of attracting $1.3 billion within a few days and a long-term fundraising goal of $1 trillion.
The program allows foreigners to pay at least $1 million to obtain legal residence and work rights in the U.S., called an “upgraded green card,” originally intended to attract high-net-worth talent and increase fiscal revenue.
Officials stated that there are still hundreds of people in line for review and emphasized that the approval process is strict. However, the market generally believes that the project is progressing slowly in practice and is unlikely to become an important source of funding for the U.S. government in the short term.