Nearly Half of Fortune 500 Companies Founded by Immigrants or Their Children

By Ozlem Kara, Content Editor at CK Law Firm

In 2024, 230 immigrant-founded companies generated $8.6 trillion in revenue!

Nearly 46% of the largest revenue-generating companies in the U.S. were founded by immigrants or their children, marking a new high in the impact of immigrants on American business, according to a 2024 report from the American Immigration Council. The report highlights that nearly half of the Fortune 500 companies have roots in immigrant entrepreneurship, underscoring the substantial contribution of immigrants to the U.S. economy.

Since 2011, the American Immigration Council has tracked the influence of immigrant entrepreneurs through Fortune Magazine’s annual list of the top 500 companies by revenue. The 2024 report, titled “New American Fortune 500: The Largest American Companies and Their Immigrant Roots,” indicates that the number of immigrant-founded businesses has reached 46% this year, with 10 new companies such as DoorDash and EchoStar making their debut on the list.

In 2023, the 230 immigrant-founded companies generated a combined $8.6 trillion in revenue—greater than the GDP of many nations. These companies also employed more than 15.5 million people worldwide, showing the far-reaching economic influence of immigrants in creating jobs both within and outside the U.S. “This report demonstrates how immigrants are critical to economic growth, job creation, and maintaining the U.S. as a global economic leader,” said Nan Wu, Director of Research at the American Immigration Council. “Our economy is stronger and more dynamic because of the immigrants who have built businesses here.”

The report also analyzes the states with the highest number of immigrant-founded companies in the Fortune 500. New York leads with 32 companies, followed by California with 28. These businesses play a vital role in their local economies, often forming a significant portion of a state’s total economic output.