The Immigrant Legacy: Nearly 500 Companies Founded by First- or Second-Generation Immigrants

HI INDIA NEWS DESK
WASHINGTON, DC- A recent report by the American Immigration Council highlights that more than 40% of America’s top-earning companies were founded by immigrants or their children, marking a record high. The report, titled New American Fortune 500 in 2024: The Largest American Companies and Their Immigrant Roots, examines the influence of immigrants on U.S. business. It reveals that 46% of Fortune 500 companies have immigrant founders or their descendants. This year, 10 new companies, including DoorDash and EchoStar, joined the list.

These 230 immigrant-founded companies generated an impressive $8.6 trillion in revenue in 2023, exceeding the GDP of many nations. They also employed over 15.5 million people worldwide, contributing significantly to job creation and economic growth. Nan Wu, research director at the American Immigration Council, emphasized that immigrants are vital to maintaining the U.S. economy’s competitiveness on a global scale.

The report also identified the states with the highest number of immigrant-founded companies, with New York leading at 32, followed by California with 28. These companies are integral to local economies, sometimes representing substantial portions of state income.