Immigrants Founded 59% of U.S. Unicorns Worth $5 Trillion, NFAP Finds
Updated
Updated · Forbes · Jun 3
Immigrants Founded 59% of U.S. Unicorns Worth $5 Trillion, NFAP Finds
3 articles · Updated · Forbes · Jun 3
Summary
455 of 775 U.S. privately held startups valued at $1 billion or more had at least one immigrant founder as of April 2026, according to a new National Foundation for American Policy analysis.
Those immigrant-founded unicorns carry a combined $5 trillion valuation and average 833 jobs per company; nearly 80% of U.S. unicorns have either an immigrant founder or an immigrant in a top leadership role.
24% of U.S. billion-dollar startups were founded by former international students, whose companies are worth $3.5 trillion and average 1,123 jobs each.
The study says immigrant-founded unicorns now span founders from 76 countries, led by India with 96 companies, and include top-valued firms such as SpaceX, Anthropic, OpenAI, Databricks and Stripe.
The findings land as the U.S. still lacks a startup visa after its exclusion from the 2022 Chips and Science Act, fueling renewed calls in Congress to expand high-skilled immigration pathways.
Immigrants create most US unicorns, so why is there still no dedicated startup visa?
As AI reshapes the market, are immigrant founders poised to dominate the next wave of unicorns?
Immigrant Founders Power 55% of U.S. Unicorns: The $5 Trillion Engine Transforming America’s Economy (2024-2026)
Overview
Immigrant entrepreneurs are a powerful force behind America’s innovation and economic growth. As of May 1, 2024, they have founded 55% of all U.S. unicorn companies—those valued at $1 billion or more—creating 1.2 million jobs and reaching a combined valuation of $1.2 trillion. This marks a dramatic rise from 2016, when immigrants founded just 31% of unicorns, valued at $90 billion and generating 600,000 jobs. The rapid growth in both the number and impact of immigrant-led unicorns highlights their essential role in driving the U.S. economy forward.