Forbes list reveals that ten percent of 400 richest Americans are immigrants
Posted on October 12, 2016
The annual list of 400 richest Americans of Forbes Magazine, which was released recently, revealed that 42 of them were immigrants from 21 countries.
The combined net worth of all of these immigrants was $250 billion. Noteworthy among them are Tesla founder Elon Musk, with a net worth of $11.6 billion, who hails from South Africa; Ukraine national Jan Koum, co-founder of WhatsApp, with a net worth of $8.8 billion; and New York City grocery owner, John Catsimatidis, a man with Greek origins, whose net worth is $3.3 billion, according to the Washington Post.
The US daily was quoted as saying that six of the richest immigrants are originally from Israel, while five are Indians and four each traced their origins to Hungary and Taiwan. Leading the immigrant billionaires’ pack is Sergey Brin, Google’s co-founder, who emigrated from Russia when he was six. His estimated net worth is around $37.5 billion.
The Kauffman Foundation’s report on immigration and entrepreneurship said that there was little doubt about the economic contributions made by immigrant entrepreneurs. It added that the chances of immigrants becoming entrepreneurs were twice as likely when compared to native US citizens.
Although a recent study showed that most Americans hold the view that foreign trade was coming at the expense of US jobs, their view of immigrants’ contributions to the American economy was very positive.
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