Immigrants Are Founders Of Most U.S. Billion-Dollar Companies

LeadershipLeadership StrategiesImmigrants Are Founders Of Most U.S. Billion-Dollar CompaniesByStuart Anderson,Senior Contributor.Forbes contributors publish independent expert analyses and insights. Stuart Anderson writes about immigration, business and globalization.Follow AuthorJun 03, 2026, 08:34am EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.Al Goldstein, co-founder and CEO of Avant, gives the first acceptance speech for the Merrick Momentum Award, Oct. 8, 2015, in Chicago. New research concludes immigrants have founded or cofounded most of America’s privately held startup companies valued at $1 billion or more. (James C. Svehla/Chicago Tribune/TNS via Getty Images)TNS via Getty ImagesNew research concludes that immigrants have founded or cofounded most of America’s privately held startup companies valued at $1 billion or more. The role of immigrant entrepreneurs receives little attention in daily press coverage. There is no startup visa in U.S. law—Senator Charles Grassley (R-IA) blocked its inclusion in the Chips and Science Act in 2022. Immigrant entrepreneurs come to America as refugees or are sponsored by an employer or family member. The significant impact of immigrant entrepreneurs on the U.S. economy and on the creation of cutting-edge companies has become too big to ignore. New Research on Immigrant Entrepreneurs“Immigrants have founded or cofounded 59% (455 of 775) of America’s privately held startup companies valued at $1 billion or more,” according to a new National Foundation for American Policy analysis. (I authored the study.) “Moreover, approximately two-thirds (66%) of U.S. billion-dollar companies (unicorns) were founded or cofounded by immigrants or the children of immigrants. Nearly 80% of America’s unicorn companies (privately held, billion-dollar companies) have an immigrant founder or an immigrant in a key leadership role, such as CEO or vice president of engineer...