New American Entrepreneurs Drive Innovation, Job Creation, and Economic Growth
In 2025, immigrant entrepreneurs and their children continue to shape the backbone of America’s largest and most influential businesses. According to new analysis, 46.2 percent of Fortune 500 companies—231 out of 500—were founded by immigrants or the children of immigrants. This powerful group, often referred to as “New American” companies, extends across every major sector and is responsible for an outsized share of innovation, job creation, and economic activity in the United States and around the globe.
Immigrant Roots of Major Corporations
The influence of New American founders is evident in some of the most recognizable brands. General Electric (GE) traces its origins to Thomas Edison, whose father immigrated from Canada; NVIDIA, a global leader in graphics and AI, was co-founded by Jensen Huang, who moved to the U.S. from Taiwan as a child; Sirius XM, now a Fortune 500 newcomer, was shaped by Canadian-born David Margolese. Ace Hardware, another recent addition, emerged from the vision of founders who were the sons of German and Swiss immigrants, while Levi Strauss & Co.—the iconic denim brand—was launched in 1853 by Bavarian immigrant Levi Strauss, serving gold rush laborers with durable workwear.
2025’s Fortune 500: A New High for Immigrant Entrepreneurship
This year marks a record high for New American representation on the Fortune 500, with 109 companies founded by immigrants and 122 by their children. Among the 14 companies debuting on the list in 2025, 10 were built by immigrant founders or their children, demonstrating the continuing strength and relevance of immigrant entrepreneurship in America’s corporate landscape.
Table 1 below highlights several of these newcomers, including Ingram Micro Holding, GE Vernova, Ace Hardware, Oscar Health, Sirius XM Holdings, Solventum, Palo Alto Networks, CACI International, Endeavor Group Holdings, and Core & Main. Together, these companies span technology, retail, broadcasting, healthcare, and more—underscoring the breadth of immigrant impact.
Rank Company Name Revenue (in Billions) Employees
95 Ingram Micro Holding $48.0B 26,100
130 GE Vernova $34.9B 76,800
429 Ace Hardware $9.5B 12,500
437 Oscar Health $9.2B 2,400
448 Sirius XM Holdings $8.7B 5,500
462 Solventum $8.3B 22,000
470 Palo Alto Networks $8.0B 15,300
484 CACI International $7.7B 24,000
495 Endeavor Group Holdings $7.5B 10,000
497 Core & Main $7.4B 5,700
Economic Impact Rivals World’s Largest Nations
The economic scale of New American Fortune 500 companies is staggering. Collectively, these 231 businesses generated $8.6 trillion in revenue in fiscal year 2024. If their combined revenue were measured as a national GDP, it would rank third globally—trailing only the U.S. and China, and surpassing economies like Germany, India, and Japan.
Revenue vs. GDP (in USD)
New American Fortune 500 Revenue $8.6T
Germany GDP $4.7T
India GDP $4.2T
Japan GDP $4.1T
Job creation is another area where these companies excel. In FY 2024, New American Fortune 500 firms employed more than 15.4 million people worldwide—comparable to the population of America’s fifth largest state. On average, each company supports nearly 67,000 jobs, fueling growth and opportunity in the U.S. and beyond.
New York Population 19.9 Million
New American Fortune 500 Employees 15.4 Million
Pennsylvania Population 13.1 Million
Illinois Population 12.7 Million
State and Industry Leaders
States with the greatest concentration of New American Fortune 500 headquarters—New York, California, Texas, Illinois, Florida, and Virginia—reap significant economic benefits. New York leads with 34 such firms, followed by California (30) and Texas (22), each contributing hundreds of billions in combined revenue and employing millions worldwide.
State Number of New American Companies Combined Revenue State GDP Employees (Worldwide)
New York 34 $1,383B $2,297B 1,889,949
California 30 $1,673B $4,130B 1,686,087
Texas 22 $807B $2,709B 1,029,253
Illinois 20 $665B $1,137B 1,123,096
Florida 13 $214B $1,706B 320,257
Virginia 13 $424B $765B 1,082,980
By sector, immigrant-founded companies are especially dominant in professional and other services (80 percent of Fortune 500 firms), manufacturing (65.6 percent), and information (57.5 percent). These industries are at the forefront of technological progress, service delivery, and economic transformation.
Industry New American Company Total Share
Professional & Other Services 8 10 80.0%
Manufacturing 40 61 65.6%
Information 23 40 57.5%
Entertainment, Accommodations, & Food Services 11 20 55.0%
Retail 19 36 52.8%
Legacy of Innovation and Opportunity
Immigrant entrepreneurs account for nearly a quarter of all business founders nationwide and an even higher proportion in sectors like accommodations and food services. As their businesses grow, many scale into major corporations, joining the ranks of the Fortune 500, and creating positive ripple effects throughout the economy.
The 2025 Fortune 500 stands as proof of the enduring contributions of immigrants and their children to America’s prosperity. Their innovation, ambition, and resilience continue to power the nation’s growth, create millions of jobs, and inspire the next generation of entrepreneurs. In an ever-evolving economy, New American companies remain at the heart of the nation’s story—driving progress, shaping industries, and redefining what’s possible.
(Based on a Report by The American Immigration Council: August, 2025)