U.S lawmakers can argue about the effect of immigration on their country’s economic change, but one cannot overlook the contribution of these foreign-born leadership in entrepreneurship and innovation.
A new study from the National Foundation for American Policy reveals that US immigrants started more than half of the current US-based startups valued at $1 billion and more. These 44 companies, the study says, are collectively valued at $168 billion and create an average of roughly 760 jobs per company in the U.S. The study also estimates that immigrants make up over 70% of key management or product development positions at these companies, WSJ reports.
Let’s have a look at the top 10 most renowned companies founded by immigrants.
There’s been a major shift in the world of technology. Apple, which has been been the most valuable company in the world since 2010, has been dethroned. Alphabet smashed Wall Street estimates in its earning calls today, following which its stock rose 9% and was trading at a high of $770. That translates into a market capitalization of $570 billion, eclipsing Apple’s current market cap of about $535 billion.