Market Data 
Topline
Elon Musk said in a tweet Sunday morning the government is “doing a quiet trial” of the $5 million visa teased by President Donald Trump earlier this year before it is rolled out to the public at a later date, though there are still few details known about the expensive path to citizenship.
Key Facts
Responding to a tweet about Trump’s “gold card visa” reportedly being quietly live, Musk said: “We’re doing a quiet trial to make sure the system works properly. Once it is fully tested, it will be rolled out to the public with an announcement by the President.”
Musk provided no details on what the “quiet trial” entails or how the card is being tested.
On Wednesday, Wired reported that despite the White House not announcing a roll out for the card, some “U.S. permanent residents and foreign visitors” were being asked while accessing an online Global Entry application if they had applied for the “Trump Card Visa.”
The Trump administration first introduced the idea of the gold card in February and said it would replace the EB-5 program, which allows immigrants to get a green card if they have a commercial enterprise in the U.S. and plan to create at least 10 permanent full-time jobs.
Forbes reached out to the Department of Commerce and U.S. Citizenship and Immigration Services for more information.
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When Will The Gold Card Be Fully Rolled Out?
It’s not clear. Musk said the public roll out will happen after the card is fully tested, but didn’t give a timeline. When Trump first announced it, he said he did not need congressional approval for it and that it would launch some time over the next two weeks, though it did not. On April 10, Commerce Secretary Howard Lutnick said the administration was planning to launch the card “within a week-and-a-half,” adding officials were excited and the card was “coming soon.” Prior to that, in March, Lutnick said on a podcast he had sold 1,000 gold cards, Wired reported.
What Do We Know About The ‘trump Gold Card’?
When first announcing it, Trump said the card would cost about $5 million and buyers would have the same benefits a green card holder would have—which include permanent residency and work authorization, but not the right to vote or run for public office—and it would be “a route to citizenship.” Trump also said the “wealthy people” who buy it will be investing in the U.S. by “spending a lot of money, paying a lot of taxes and employing a lot of people.” Revenue generated by sales of the Trump card would be used to pay down the national debt, Trump said. Lutnick has said there will be a strong vetting process to ensure those receiving cards are “great global citizens.”
Big Number
1 million. That’s how many Trump gold cards the president said he expected to sell when he announced them in February.
Key Background
News of Trump’s plan for a $5 million visa came amid his efforts to ramp up deportations in the U.S. Before he took office, Trump said he would carry out the largest mass deportation effort in the country’s history. Trump’s deportation methods have faced legal challenges, though, with some cases—like the deportation of Kilmar Abrego Garcia, a Maryland man who the administration said was mistakenly deported—drawing national attention. Judges have ordered the Trump administration to facilitate the return of Garcia, but Trump’s team has said it did not violate any laws and the judges do not have jurisdiction. The Trump administration has also made a habit of trying to revoke student visas, and has offered immigrants illegally in the country $1,000 to self-deport.
Further Reading
What We Know About Trump’s $5 Million ‘Gold Card’ Visa (Forbes)
A ‘Trump Card Visa’ Is Already Showing Up in Immigration Forms (Wired)
