Axios’ Jonathan Swan reports that the Trump administration is gearing up to block a rule, called “The International Entrepreneur” rule, from taking effect on July 17. The rule was created by former president Barack Obama, and its purpose is to help foreign entrepreneurs come to the US to start their own companies. Though Trump has not yet made a final decision, the tech community is already up in arms about the possible rollback.
American companies, and particularly technology companies, have a long history of being built by foreign founders. A report from venture capital firm Kleiner Perkins Caufield & Byers found that 25% of the top 25 tech companies were founded by first or second generation Americans.
And 40% of Fortune 500 companies were founded by either immigrants or the children of immigrants, according to The Atlantic.
Free Enterprise, a website backed by the US Chamber of Commerce, broke down a number of powerful US-based companies that were built by people born outside the US.
Take a look at 14 of those below:
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