Immigration

Report: 44 Percent of Fortune 500 Companies Were Started by Immigrants Or Their Children

Eighteen of those companies are based in Texas, including 10 in Houston.

Houston-based LNG company Cheniere was founded by Lebanese-American businessman Charif Souki. It is one of the many Fortune 500 companies based in Texas.

A new report shows 44 percent of Fortune 500 companies were started by immigrants or their children. Eighteen of those companies are based in Texas, including ten in Houston.

Texan Fortune 500 companies that were founded by immigrant families brought in nearly $486 billion in revenue during 2017.

Research from the New American Economy advocacy group shows those companies employ more than 700,000 people worldwide.

Most companies, like Phillips 66 and Texas Instruments, are based in Houston or Dallas and have founders with European, Asian and Middle Eastern roots.

New American Economy Director Jeremy Robbins said studies show immigrants as more likely than the native-born population to start businesses.

“People who tend to come to this country start businesses at much higher rates than native born, and you also see that both through mom and pop shops on main street, but you also see that through America’s greatest companies,” said Robbins.  

Robbins said one reason immigrants are more likely to start businesses is because of the independent spirit required to leave their home countries and start over.

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