Donald Trump launched his "Board of Peace" at the World Economic Forum in Davos on Thursday, the president's committee that will function as "transitional administration" in the reconstruction of Gaza. 60 nations have been invited to join, with each member guaranteed a seat for the sky-high cost of $1 billion.

Stephen Colbert unpacked Trump's new billion-dollar board on The Late Show Thursday, including reports that Trump will be its chairman for life (even after he is no longer U.S. president) and hold the only veto over any matter. But he also landed a blow on his own network CBS (Colbert's show was controversially cancelled after the host accused CBS' parent company Paramount of paying a "big fat bribe" to Trump during a monologue.)

"Admittedly, the idea of paying a billion dollars to obey Donald Trump seems a little steep," Colbert said of the Board of Peace admission fee. "After all, CBS got to do it for just $16 million. Check my math on that one."

Someone call the fire department.