Overview
- White House court filings report 165 people paid the $15,000 processing fee, 59 began paperwork, and 338 requested the card.
- Commerce Secretary Howard Lutnick told Congress that only one applicant has paid the final $1 million and received approval.
- The administration has reported roughly $1.3 billion collected from the program, according to the Washington Post.
- The price was reduced from the original $5 million pitch to $1 million even as approvals remained scarce.
- Analysts note the buyer pool is limited, with about 626,000 people worldwide worth $30 million or more, which caps potential sales.