A recent report by the American Immigration Council (AIC) shows that nearly 50% of America’s top-earning businesses were founded by immigrants or children of immigrants. More than two out of five Fortune 500 Firms Have Immigrant Founders, reflecting the critical role immigration plays in the U.S.
Tracking Immigrant Impact on American Business
Since 2011, the AIC has monitored how immigrant founders and their descendants influence American business. The report uses Fortune Magazine’s list of the 500 largest U.S. companies by revenue to identify how many were started by immigrants or their children.
Key Findings: Fortune 500 Firms Have Immigrant Founders
The 2024 report, titled “New American Fortune 500: The Largest American Companies and Their Immigrant Roots,” found that 46% of Fortune 500 companies were founded by immigrants or their descendants. Ten new companies, including DoorDash and EchoStar, joined the list this year, highlighting the ongoing contributions of immigrants to the U.S. economy.
Economic Contributions of Fortune 500 Firms Have Immigrant Founders
The 230 immigrant-founded companies generated $8.6 trillion in revenue in 2023, outperforming the economies of many nations. These businesses also employed over 15.5 million persons worldwide, underscoring their crucial role in job creation and economic growth.
Expert Commentary on Immigrant Contributions
“This report shows how immigrants are a plus for our economy, driving job creation and keeping the U.S. economy dynamic and competitive at a global level,” said Nan Wu, director of research at the American Immigration Council. She stressed how vital it is to recognize immigrant contributions and urged policymakers to support immigrant-driven growth.
States with the Most Immigrant-Founded Fortune 500 Companies
The report also analyzed which states host the most immigrant-founded Fortune 500 companies. New York led with 32 companies, followed by California with 28. These businesses play a significant role in state economies, contributing heavily to local and state revenue.
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