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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

Biden: "Being a cop today is one hell of a lot harder than it's ever been"

President Biden speaks during the 40th Annual National Peace Officers Memorial Service at the U.S Capitolon Oct. 16. Photo: Brendan Smialowski/AFP via Getty Images

President Biden speaking at the U.S. Capitol on Saturday honored members of law enforcement who died in the line of duty in 2019 and 2021 and saluted those who are currently serving.

Driving the news: "We expect everything of you, and it's beyond the capacity of anyone to meet the total expectations. Being a cop today is one hell of a lot harder than it's ever been," Biden said.

Updated 4 hours ago - World

Islamic State claims responsibility for deadly bombing in southern Afghanistan

The mosque after the explosion in southern Kandahar province on Oct. 15. Photo: Murteza Khaliqi/Anadolu Agency via Getty Images

The Islamic State group claimed responsibility for a massive blast that tore through a crowded Shiite mosque in the southern Afghan city of Kandahar on Friday, killing at least 47 people and injuring dozens more, AP reports.

Why it matters: Friday's attack was the deadliest to strike Afghanistan since the U.S. withdrew its troops from the region and is the second major attack on a Shiite mosque in a week, underscoring the Taliban's growing security threat from other militant groups.

New wave of strikes will test worker power

Illustration: Sarah Grillo/Axios

Thousands of John Deere workers hit the picket line this week after the union smacked down a new worker contract from the farm and equipment maker.

Why it matters: There’s a wave of worker angst spreading across the country. They wield new power that’s come with a historic worker shortage.

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