A record 125 foreign-born American citizens including 12 Indians and a Pakistani currently live in the United States, up by more than a third from the last tally of 92 in 2022, Forbes magazine said Wednesday.
Of these immigrant billionaires a huge majority, 93%, are self-made while more than a quarter of America’s three-comma-club inherited their money.
“This shows the momentous contribution that motivated immigrants make toward sustaining America’s economic leadership and hold out the promise of American Dream for millions of people,” says Muhammad Nasimuddin Mirza, a successful Pakistani entrepreneur and author of the just-released book “American Dream Now and Forever.”
Notably, nearly two-thirds of them got rich in either the tech sector or finances. The tech sector now has 53 immigrant billionaires.
Pakistani-American auto parts manufacturer giant Shahid Khan is the 12th richest immigrant in the United States with an estimated worth at $13.3 billion.
Newly included Indian-Americans on the list feature 53-year-old Alphabet CEO Sundar Pichai, 57-year-old Microsoft chief Satya Nadella and 57-year-old Nikesh Arora, who has run cybersecurity company Palo Alto Networks since 2018, the magazine said.
According to the magazine, the billionaire American immigrants are worth a record $1.3 trillion in total and own 18% of America’s $7.2 trillion in total billionaire wealth.
These highly successful immigrants hail from 43 countries and account for 14% of the America’s nearly 900 three-comma fortunes, the magazine reported.
Moreover, three of the 10 richest people in America and the world are immigrants, including the world’s wealthiest South African-born Elon Musk.
Musk’s worth stands at an estimated $393.1 billion.
Google cofounder Sergey Brin, who was born in Russia, ranks second on the list of richest immigrants in the United States, with an estimated $139.7 billion fortune.
Thailand-born Nvidia cofounder and CEO Jensen Huang, is America’s third richest immigrant, with an estimated worth of $137.9 billion.
Indian immigrants lead the list of foreign-born billionaires at 12, followed by Israelis and Taiwanese tied at 11 each.
The Forbes list features 17 billionaire women immigrants, up from 10 in 2022.
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Congratulations to Muhammad Nasimuddin Mirza on the release of his book ‘American Dream Now and Forever’! His insights on the contributions of motivated immigrants to America’s economic leadership are truly inspiring. A must-read for anyone interested in the American Dream!
Thanks for sharing an interesting article. Of course we would like to read his recently published book. Please let us know how to get it. Thanks
Mr. Mirza is a hardworking and practical person. I would love to read the book he has published.