According to recent research by the National Foundation for American Policy (NFAP), immigrants have launched more than half of America’s startups valued at $1 billion or more, with founders from India accounting for the largest share of these companies.
According to the study, 319 of the 582 American startup companies valued at $1 billion or more include at least one founder who is an immigrant. A minimum of 51 of the 582 U.S. billion-dollar startup companies had founders who were born in the country to immigrant parents, in addition to the businesses with immigrant founders.
The value of the 319 immigrant-founded businesses is $1.2 trillion, which is greater than the value of the businesses listed on the major stock exchanges of many nations, such as the Singapore Exchange ($679 billion), Brazil Stock Exchange ($925 billion), Madrid Stock Exchange ($727 billion), Indonesia Exchange ($620 billion), etc.
Nearly 80% of America’s unicorn businesses (privately-held, billion-dollar firms) were founded by immigrants, or have immigrants in positions of significant leadership, like CEO or vice president of engineering.
According to the study, each privately held US startup business with immigrant founders has produced an average of 859 new jobs. As of May 2022, the top three were REEF Technology (15,000), Gopuff (15,000), and SpaceX (12,000).
India is the country with the most multi-billion dollar enterprises started by immigrants in the top 10.
The most valuable US billion-dollar companies with at least one immigrant founder are led by SpaceX. It is also among the top US firms created by immigrants in terms of employment.
57 different nations are represented among the immigrant entrepreneurs working for billion dollar firms in the United States. The majority of immigrant founders of US billion-dollar enterprises come from India, which has 66 companies. With 54, immigrants from Israel built the second-highest number of billion-dollar businesses.