New study finds immigrants and children of immigrants founded 45 percent of U.S. Fortune 500 companies, amassing $6.1 trillion in annual revenue last year.
, released Thursday from The New American Economy Research Fund, is the latest piece of research tying a significant portion of U.S. economic growth to migrant families. The pro-immigration group's data revealed there were 101 companies founded directly by foreign-born individuals and another 122 were created by the children of immigrants. U.S. Fortune 500 companies founded by immigrants employ 13.
The revenue brought in by these companies on the New American Fortune 500 list is $1.1 trillion more than Japan's entire gross domestic product, $2.1 trillion more than Germany's GDP and nearly three times that of the United Kingdom's entire GDP. As the report notes, the 13.5 million people employed by these companies creates a population that would rank as the fifth largest state in the country.
Comparatively, companies founded by non-immigrants such as Walmart, Exxon and CVS amassed $7.6 trillion in 2018.
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