#United States #Chicago #BMO #Latino Leaders #Latino-owned

The Growth of Latino-Owned Enterprises in the US

In a noteworthy collaboration, BMO has partnered with Latino Leaders Magazine to launch the 2025 Latino Leaders Index500, revealing a comprehensive ranking of the largest Latino-owned businesses in the United States based on revenue. Now in its third iteration, the Index has expanded significantly, moving from 200 to 500 companies in just one year, thus underscoring the vibrant growth and economic influence of Latino entrepreneurs nationwide.

The 2025 index lists companies from various sectors, including engineering, construction, food and beverage, and technology, emphasizing the diversity and reach of Latino-led enterprises. Notably, this year’s index includes businesses from 34 states and Puerto Rico, with California, Texas, and Florida showcasing a particularly strong presence.

In total, these 500 companies generated a staggering $149 billion in combined revenue during 2024. Significantly, the top 10 companies contributed 42 percent of this total revenue, illustrating the profound impact these enterprises have on both the economy and their respective communities. Remarkably, over 200 companies achieved at least $100 million in annual revenue, highlighting the tremendous success of Latino entrepreneurs.

Taking the top spot in this year's selection is Carvana, which has experienced a remarkable 27 percent increase in revenue compared to the previous year. Joining Carvana at the top of the rankings are industry titans like MasTec, TelevisaUnivision, and Goya, all of which have demonstrated innovation and resilience in their business practices.

Eduardo Tobon, BMO’s Latino Segment Head, noted, "The sustained growth of major players like Carvana in this year's index reflects the ongoing momentum and significant impact of Latino entrepreneurs. We are honored to support these companies as a trusted financial services partner."

BMO's commitment goes beyond mere rankings. The institution aims to provide essential financial tools, knowledge, and networking opportunities to bolster the progress of these businesses. BMO's message revolves around its purpose: to Boldly Grow the Good in both business and life.

In addition to the Index's economic insights, it's designed to serve as a platform for collaboration among Latino business leaders. Jorge Ferraez, Publisher of Latino Leaders Magazine, stated, "The Index is more than just an informational resource – it connects and empowers Latino business leaders by providing exclusive resources and fostering collaboration through our newly launched microsite."

Currently, Latinos represent about 19 percent of the U.S. population and contribute over $3.6 trillion to the national economy. The Index serves as a spotlight on the significant role that this demographic plays in shaping U.S. business landscape.

To access the complete list of the 2025 Latino Leaders Index500, powered by BMO, readers can visit their official webpage.

About BMO Financial Group

BMO Financial Group stands as the eighth largest bank in North America, with total assets amounting to $1.5 trillion as of January 31, 2025. For over 200 years, BMO has been dedicated to serving its customers, providing a diverse range of banking, wealth management, and investment services to nearly 13 million customers.

About Latino Leaders Magazine

Since its establishment in 2000, Latino Leaders Magazine has become a leading publication focusing on the recognition and empowerment of Latino professionals, reaching approximately 250,000 readers across the nation. The magazine prides itself on highlighting influential Latino and Hispanic leaders, contributing to the understanding of their impact in various fields.