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 4 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 4:30 p.m. ET: 21,020,216 — Total deaths: 761,393— Total recoveries: 13,048,303Map.
  2. U.S.: Total confirmed cases as of 4:30 p.m. ET: 5,289,323 — Total deaths: 167,948 — Total recoveries: 1,774,648 — Total tests: 64,831,306Map.
  3. Health: CDC: Survivors of COVID-19 have up to three months of immunity Fauci believes normalcy will return by "the end of 2021" with vaccine — The pandemic's toll on mental health.
  4. Business: How small businesses got stiffed — Unemployment starts moving in the right direction.
  5. Cities: Coronavirus pandemic dims NYC's annual 9/11 Tribute in Light.
  6. Politics: Biden signals fall strategy with new ads.

Harris: "Women are going to be a priority" in Biden administration

Sen. Kamala Harris at an event in Wilmington, Del. Photo: Drew Angerer/Getty Images

In her first sit-down interview since being named Joe Biden's running mate, Sen. Kamala Harris talked about what she'll do to fight for women if elected VP, and how the Democrats are thinking about voter turnout strategies ahead of November.

What they're saying: "In a Biden-Harris administration women are going to be a priority, understanding that women have many priorities and all of them must be acknowledged," Harris told The 19th*'s Errin Haines-Whack.

Facebook goes after Apple

Illustration: Lazaro Gamio/Axios

Facebook is seeking to force a face-off with Apple over its 30% in-app purchase commission fee, which Facebook suggests hurts small businesses struggling to get by during the pandemic.

The big picture: Facebook has never publicly gone after Apple, a key strategic partner, this aggressively. Both companies face antitrust scrutiny, which in Apple's case has centered on the very fee structure Facebook is now attacking.