The Magnificent Seven – some of the stock market’s highest flyers – could see hundreds of millions of new costs under the Trump administration’s proposed H-1B visa changes. Amazon (AMZN +1.02%) alone could face $173 million if the administration moves forward with a $100,000-per-petition fee based on the amount of petitions the company filed in fiscal year (FY) 2025.
H-1B visas allow businesses to hire foreign workers in specialty occupations – jobs that require highly specialized knowledge and the equivalent of a bachelor’s degree or higher. H-1B visas have a three-year limit, which can be extended to six years total. Each year, 65,000 H-1B visas can be issued, and 20,000 additional visas can be provided to those who have a master’s degree or higher from a U.S. institution. Other exemptions are available as well.
For investors, understanding the Magnificent Seven’s reliance on H-1Bs is important, especially as talent-intensive companies rely on recruiting the best talent from around the world.
Methodology
The Motley Fool estimated hypothetical H-1B fees by multiplying the number of new petitions each company filed in FY25 by the Trump administration’s proposed $100,000 fee per petition. Only new petitions were included, as the fee does not apply to continuations, amendments, or changes of employer. This approach reflects the company’s potential cost exposure had the fee been in place in FY25.
How the Magnificent Seven Have Used H-1Bs and What They Could Pay
Amazon tops the list by H-1Bs in use in FY2025 and what it would’ve paid for new petitions that year as well. Amazon has 10,044 H-1Bs employed and had 1,726 new petitions accepted, which would have come with a $172.6 million price tag had the fee been in place last year.
Microsoft (MSFT +0.37%) and Meta Platforms (META +0.40%) would have also surpassed $100 million in H-1B fees.
Tesla (TSLA +1.74%) has the least exposure to H-1B fees among the Magnificent Seven. Elon Musk’s electric vehicle company used 727 H-1Bs in FY25 and had just 166 petitions approved, which would’ve hit the business with a $16.6 million bill.
While those are high price tags for just a handful of hires, the costs are a percentage of a percentage relative to the revenue the Magnificent Seven companies generate, meaning it’s likely a cost they could bear. Whether they are willing to – and whether much smaller companies are willing to as well – are different questions.