Grant Cardone Is a Fan of Trump’s Gold Card Initiative — What Effect Could This Have on the Economy?
Written by
Marc Guberti
Edited by
Amen Oyiboke
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Grant Cardone has been a vocal supporter of President Trump. From playing golf with the president to speaking at Trump’s MSG Rally — Cardone has never been afraid of the spotlight when it comes to Trump’s administration.
He has recently given his two cents about Trump’s gold card initiative and is in support of it. The new card, known as Trump Gold, allows foreigners to buy U.S. citizenship for $5 million. Cardone posted on X saying that the program will attract the best of society.
“Smart way to attract money & bring in more conservative voters. These people bring with them purchasing power and investments and spend money and create jobs,” he said.
Through his eyes, the Trump Gold Card can have a significant impact on the U.S. economy and strengthen the country. Here are a few reasons why Cardone could be right.
More Investments in the United States
The Trump Gold Card has a high price tag that could attract business owners who want to invest in the country. These investments can create more factories and jobs that strengthen America’s competitive edge.
The U.S. economy could end up with a lower unemployment rate as international companies boost their exposure to the United States. Some companies may set up facilities in the United States just to avoid tariffs, just as Taiwan Semiconductor Manufacturing did earlier this year.
DOGE Can Trim More Government Spending
Increased foreign investments could stimulate the economy, which could make it easier for DOGE to perform its job. The Department of Government Efficiency has laid off federal workers left and right in an effort to get government spending under control. The federal government currently employs around three million people, which makes it the nation’s 15th largest workforce.
While it’s not clear how many federal workers the DOGE team plans to cut, the influx of new employers will bring more jobs. The extra employment opportunities that come from Trump Gold Cards could minimize DOGE’s impact on the country’s unemployment rate.
Chip Away at the National Debt
The Trump Gold Card could make it easier to chip away at the national debt. Trimming this debt will result in lower inflation and lower interest rates. That’s because we only get inflation when the government prints more money. Furthermore, chipping away at the national debt reduces the amount of U.S. Treasury bills, which will translate into lower rates.
The immediate impact is that each Trump Gold Card brings $5 million into the United States. Cardone mentioned in his X post that the U.S. could generate $5 trillion if one million passes are issued. The government can immediately use those proceeds to reduce the national debt. Trump Gold Cards could become a valuable revenue source for many years.
However, another benefit that comes from the Trump Gold Card is other businesses will seemingly be investing in America. Instead of taxpayers footing the bill through corporate tax credits, the companies that come into America have to invest their own capital. Having other companies create the facilities and setting up shop in America creates more jobs without costing taxpayers additional money.
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