Elon Musk gives an update on America's Gold Card Visa programme: We are going to ...
Tesla CEO
has given an update on President
's
Gold Card visa
program. In a post on Twitter, Elon Musk wrote that the Gold Card Visa programme is quietly being tested to ensure the system works properly.
Tired of too many ads? go ad free now
"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," Elon Musk wrote in a post on Twitter in response to a tweet from MarioNawfal.
A task force under Elon Musk is reportedly working on the new
US immigration
initiative offering "Gold Card" residency visas for $5 million each. Engineers from Elon Musk's Department of Government Efficiency (DOGE) are working with the State Department,
Department of Homeland Security
, and U.S.
Citizenship and Immigration Services to create a streamlined application system and website. According to a report in New York Times, the project is led by
DOGE
engineers Marko Elez and Edward Coristine, who are integrating federal vetting processes into the new system. Airbnb co-founder Joe Gebbia has joined, initially tasked with digitizing federal retirement systems. Elez resigned in February after controversy over a pseudonymous social media account linked to racist posts and eugenics-based immigration views, but he has since collaborated with federal agencies.
Coristine, a 19-year-old known online as 'Big Balls,' was previously fired from a 2022 internship at Path due to a data leak.
What is the Gold Card Visa
The Gold Card program aims to fast-track residency for high-net-worth individuals, bypassing the lengthy traditional visa process with expedited background checks and interviews, targeting approval within two weeks. Unlike the EB-5 visa program, which offers green cards for $800,000-$1.05 million investments creating 10 U.S.
Tired of too many ads? go ad free now
jobs, the Gold Card focuses on revenue generation, replacing the EB-5's $4 billion annual contribution.
Gold Card offers Permanent Residency, Not Citizenship
Commerce Secretary Howard Lutnick claimed 1,000 Gold Cards have been sold, granting permanent residency to vetted individuals who pay $5 million and abide by U.S. laws. Musk is reportedly developing the software, with a launch expected soon. Former President Trump, who first proposed the Gold Cards in February as a pathway for 'very high-level people,' recently showcased a mock-up featuring his image, the Statue of Liberty, and a bald eagle, projecting a debut within weeks.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
an hour ago
- Economic Times
Gold selloff on jobs euphoria is misguided? Peter Schiff says rebound coming
Stocks gain, gold slides Live Events 'Those trades will reverse' Gold's case remains intact (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The sharp drop in gold prices and concurrent rally in equities following the May U.S. jobs report on Friday reflect a misreading of economic fundamentals and will likely unwind, according to economist Peter Schiff . The longtime gold advocate said investors are overreacting to headline payroll figures while ignoring signs of underlying labour market a post on microblogging site X (formerly Twitter), Schiff wrote, "The stock market is the tail that wags the dog. The labor market is weak. But since the headline number in the May jobs report was not as weak as expected, the stock market rose. As a result, traders bought dollars and sold gold. Those trades will reverse as the headlines fade."U.S. stocks closed higher on Friday, buoyed by a modest upside surprise in nonfarm payrolls , which showed 139,000 jobs added in May, ahead of consensus estimates of 130,000. April's job gains were revised down to 147,000. The unemployment rate held steady at 4.2%, in line with upbeat reaction sent the S&P 500 above the 6,000 mark for the first time since February 21, while technology stocks led gains and Tesla rebounded from its previous session's data also prompted traders to reassess the timeline for Federal Reserve rate cuts , with expectations now pointing to a single reduction in September, rather than an earlier move. This recalibration sent the dollar higher and weighed on gold fell 1.27% to $3,310.58 an ounce on Friday, while U.S. gold futures dropped 1.23% to $3, a vocal critic of Fed policy and fiat currency weakness, argued that markets are reacting to surface-level data while the broader picture remains fragile. 'Those trades will reverse as the headlines fade,' he warned, suggesting that the rush into the dollar and out of gold will prove latest remarks come just weeks after a separate post on X, in which he questioned why central banks around the world continue to accumulate gold rather than Bitcoin.'If gold is the past and Bitcoin is the future, why are foreign central banks that are preparing for a future where the U.S. dollar is no longer the reserve currency, replacing their dollar reserves with gold and not Bitcoin?' Schiff asked in a May 27 post to his one million has repeatedly pointed to record central bank bullion buying, now topping 1,000 metric tons annually, as evidence of deepening global distrust in the U.S. dollar and growing confidence in gold's role as a long-term reserve recent price pressure, Schiff maintains that gold remains well-positioned amid geopolitical tensions, fiscal concerns, and an uncertain Fed path. He views the latest market reaction as a temporary divergence from long-term fundamentals, one that will fade as reality sets the Federal Reserve set to meet later this month, all eyes will be on updated projections and commentary that could either reinforce or undermine the narrative driving recent trades. For Schiff, though, the message is clear: the market's reaction to the jobs data is 'misguided,' and gold's rebound is only a matter of time.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
an hour ago
- Time of India
Amid H-1B uncertainty and layoffs, immigration experts say demand for L-1 and O-1 visas has gone up as they do not have ...
Representative Image Indian professionals and their employers are increasingly exploring alternatives to H-1B visas, such as L-1 and O-1 visas, amid stricter scrutiny of H-1B applications and ongoing tech layoffs in the US, according to immigration experts cited by the Economic Times. Demand for EB-5 immigrant investor visas has also surged, with a 50% increase since January 2025, noted Sukanya Raman, country head - India & GCC practice team at Davies & Associates LLC. 'These are in current status for Indian nationals, meaning visas are available, and they can receive authorization and travel documents in 3-6 months,' she told ET, highlighting their appeal for Indian families on H-1B visas whose children are nearing 21 and at risk of aging out. USCIS data shows a 27% year-on-year drop in shortlisted H-1B visa applications this year, the lowest since FY21, with the US approving 85,000 H-1B visas annually, of which Indians secure about 70%. The new Trump administration's tightened H-1B scrutiny since early 2025, combined with layoffs at tech giants like Microsoft, Google, and Intel, has heightened anxiety among Indian professionals. 'Our clients are more fearful, especially about international travel and visa 'stamping' at consular posts abroad,' Joel Yanovich, an attorney at Murthy Law Firm, told the publication. 'I don't think a day goes by without clients asking if it's safe to travel.' This has driven demand for L-1 visas (for intracompany transfers) and O-1 visas (for individuals with extraordinary abilities in fields like science, arts, or business), which lack the annual caps of H-1B visas. 'Part of this spike is seasonal, tied to those not selected in the H-1B lottery, but it also reflects employers and individuals aiming to avoid anticipated H-1B scrutiny,' Yanovich said. Some companies are transferring employees to countries like Canada temporarily to qualify for L-1 visas, which can lead to EB-1C green cards for managers, Raman explained. Others are pursuing EB-2 NIW (National Interest Waiver) visas for those with advanced degrees working in the US national interest, she added. Gnanamookan Senthurjothi, a US immigration attorney, told ET that the number of people seeking assistance for these visa options has risen in recent months.
Hindustan Times
an hour ago
- Hindustan Times
Will Musk be indicted? Trump closing DOGE? 10 bizarre questions after BFF duo's breakup
President Donald Trump and his 'best buddy', Elon Musk's, feud went public this week after the latter slammed the Republican-led tax bill, promoted indictment claims against the president, and even linked him to the infamous Epstein files. One person familiar with Trump's thinking told the Associated Press that the former DOGE head wants to have a dialogue with Trump, but the 78-year-old refused to talk to him. The two, who have overseen massive budget cuts across federal departments since January, have not spoken about each other since President Trump said he is 'very disappointed' in Musk. After the Tesla chief accused Trump of being ungrateful in a series of tweets, the president told reporters: 'I'm very disappointed in Elon. I've helped Elon a lot.' Read More: Elon Musk challenges Trump to terminate his govt contracts after US prez threatens him, 'Go ahead, make my day…' Now, Republican lawmakers are worried about the potential consequences of a prolonged feud. 'I hope it doesn't distract us from getting the job done that we need to,' Rep. Dan Newhouse, a Republican from Washington state said. "I think that it will boil over and they'll mend fences.' However, bettors are placing wagers on bizarre potential consequences of the public breakup. According to Gamblin 11, people are asking questions about DOGE's future, Musk's potential indictment and even Donald Trump publicly bringing up the billionaire's alleged drug use. The website posted 10 questions with odds. Read More: Trump openly warns Elon Musk, reacts to Abrego Garcia's return, Tax bill | DOGE What will happen first? Trump to Post Photo-Shopped/AI Image of Musk – 1/1 Trump Mentions Musk Drug Use – 2/1 Trump to Terminate DOGE – 3/1 Musk Endorses Democratic Party – 14/1 Musk to Call For Trump Impeachment – 16/1 Musk to Be Indicted – 25/1 Either Challenges Others to Fight – 33/1 Trump Orders ICE to Deport Musk – 50/1 Melania to Start Working for Musk – 100/1 None of these consequences or bets are based on hard facts or evidence. Please note, we do not promote gambling. This story merely covers public sentiment amid the Trump-Musk feud.
