“Each year since 1955, Fortune Magazine has published a list of the 500 largest American companies by revenue, among U.S. publicly listed companies and private companies with publicly available financial data.
In 2011, New American Economy (NAE) – a non-partisan policy organization of 500 Republican, Democratic, and Independent mayors and business leaders – analyzed the national origin of the 2010 Fortune 500 company founders, finding that more than 40 percent had at least one founder who was an immigrant or the child an immigrant.
Given the on-going national debate regarding immigration policy – and the well-established importance of immigrants to entrepreneurship in the United States – the Center for American Entrepreneurship (CAE) has analyzed the Fortune 500 data for 2017. We found that 43 percent of these companies were founded or co-founded by an immigrant or the child of an immigrant. We also found that the occurrence of first- or second-generation immigrant founders is significantly higher among the largest Fortune 500 companies – accounting for 52 percent of the top 25 firms and 57 percent of the top 35 firms.
Immigrant-founded Fortune 500 firms are headquartered in 33 of the 50 states, employ 12.8 million people worldwide, and accounted for $5.3 trillion in global revenue in 2016.
The results are striking and should be carefully considered by policymakers as they continue to deliberate the fate of 800,000 so-called DREAMers – undocumented immigrants brought to the United States illegally as children – and U.S. immigration policy more generally. In particular, the analysis provides compelling support for the creation of an entrepreneur visa, an important aspect of the Startup Act, bipartisan legislation reintroduced by Senators Jerry Moran (R-KS) and Mark Warner (D-VA) on September 28th.
The findings of CAE’s analysis – along with a vast research literature – demonstrate the remarkable and persistent importance of immigrants to the creation and growth of America’s largest, most successful, and most valuable companies.”
Read the complete report, with lots of neat charts, stats, and graphics, at the link. Unfortunately, we have an Administration that refuses to acknowledge the essential role of immigration in American history and building American success.