Expand chart
Data: New American Economy Research Fund; Chart: Chris Canipe/Axios

Immigrants and their children have founded 45% of the U.S.' Fortune 500 companies, according to a new study by New American Economy, a bipartisan pro-immigration group.

Why it matters: The share of the most successful and globally recognized U.S. companies that have immigrant founders is growing, according to NAE's Hanna Siegel and Andrew Lim, while the Trump administration has tried to make it more difficult for immigrants to come to the U.S., often claiming that they take American jobs and lower wages.

Between the lines: Immigrants may have a negative impact on the work prospects of some U.S.-born workers, as Harvard economics and social policy professor George Borjas wrote for Politico. But they also are increasingly a vital part of the U.S. economy.

By the numbers: Fortune 500 companies founded by immigrants or their children employ 13.5 million people, and on average employ 11% more people than the average Fortune 500 company with a nonimmigrant founder, the study found.

  • These companies brought in $6.1 trillion in annual revenue last year.
  • More than half of the revenue brought in by Fortune 500 companies in New York, Washington state, Georgia and Pennsylvania, among others, came from companies founded by immigrants or their children.
  • In Illinois, the revenue brought in by immigrant-founded Fortune 500 companies was equal to 70% of the state’s GDP.

Go deeper

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 19,734,428— Total deaths: 728,612 — Total recoveries — 12,001,537Map.
  2. U.S.: Total confirmed cases as of 7 p.m. ET: 5,036,387 — Total deaths: 162,851 — Total recoveries: 1,656,864 — Total tests: 61,792,571Map.
  3. Politics: Pelosi says states don't have the funds to comply with Trump's executive order on unemployment — Mnuchin says Trump executive orders were cleared by Justice Department.
  4. Public health: Ex-FDA head: U.S. will "definitely" see 200,000 to 300,000 virus deaths by end of 2020 — Fauci says chances are "not great" that COVID-19 vaccine will be 98% effective.
  5. Schools: Nine test positive at Georgia school where photo showing packed hallway went viral — How back-to-school is playing out in the South as coronavirus rages on.
2 hours ago - World

Protests erupt in Belarus after "Europe's last dictator" claims election victory

A man lies on the ground in front of riot police in Minsk. Photo: Sergei Gapon/AFP via Getty Images

Demonstrations broke out across Belarus on Sunday after a government exit poll predicted that President Aleksander Lukashenko, an authoritarian who has ruled the Eastern European country since 1994, had swept to overwhelming victory over a pro-democracy opposition candidate.

Why it matters: It's a precarious moment for the former Soviet republic, where decades of repression and a complete disregard for the coronavirus pandemic now threaten to topple "Europe's last dictator."

Scoop: Inside Trump's debate prep

Trump and Christie. Photo: Jim Watson/AFP via Getty Images

Two weekends ago, President Trump met with a group of his closest aides in the conference room of his Bedminster golf club to discuss a subject that has been weighing heavily on his mind: the three scheduled debates with Joe Biden.

Behind the scenes: In the room with Trump were his son-in-law Jared Kushner, campaign manager Bill Stepien, senior adviser Jason Miller, and former New Jersey Gov. Chris Christie, who role-played Hillary Clinton in Trump's 2016 debate prep sessions.