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Dear John,
Immigrants and their children are entrepreneurs. They’re innovators. They’re job creators. They’re catalysts fueling America’s economy.
How do we know? Simply look at this year’s Fortune 500 list.
The American Immigration Council’s new analysis of the 2023 Fortune 500 list shows that more than two out of every five Fortune 500 companies—the 500 largest corporations by revenue in the country—had at least one immigrant or child-of-immigrant founder.
This year, we found that 44.8% of these “New American” companies were founded by immigrants or their children. Big-name companies like Apple, Costco, Hasbro, and Lululemon all have immigrant roots.
Some highlights from our analysis on these Fortune 500 companies include:
- 103 companies on the list were founded by immigrants, while another 121 were founded by the children of immigrants
- In fiscal year 2022, the total revenue for companies with immigrant ties was $8 trillion. That’s greater than the GDP of most developed countries, aside from the U.S. and China.
- These companies employ 14.8 million people.
Our report shows that immigrants and their children are important contributors to some of the top corporations in the United States, building everything from IT infrastructure to America’s roadways.
Sincerely,
Nan Wu
Director of Research
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