Majority of the billionaires alive today finished their under grad studies from an American University. But in an interesting finding, the University of Mumbai has emerged as the only entry -apart from the London School of Economics & Political Science-in the top 10 list of universities that is not American. Ranked 9th, the University of Mumbai with 12 billionaires figures higher than MIT, NYU or even the University of Michigan or Columbia. The list “Which Universities Produce The Most Billionaires“ is heavily dominated by US entries 16 of the top 20 universities, including the top eight in the list.
Twenty-five billionaires obtained their bachelor's degrees from the University of Pennsylvania, making it the top university in the world in terms of number of billionaire undergraduate alumni according to this year’s Wealth-X and UBS Billionaire Census. It is followed by Harvard University with 22 billionaires, Yale with 20 billionaire alumni, University of Southern California with 16, Princeton and Cornell with 14 billionaire alumni each. The annual study also showed that higher education is not a prerequisite to achieving billionaire status as 35% of the 2,325 billionaires in the world have not obtained a tertiarylevel degree.
Notable university dropouts include Microsoft co-founder Bill Gates and Facebook co-founder Mark Zuckerberg. Both walked out of Harvard during their undergraduate years to start their businesses.
Interestingly, only one British university figures in the top 20 list and it is not Oxford or Cambridge. The honour goes to the London School of Economics (LSE) which is ranked 10th and has produced 11 billionaires – one less than Mumbai University. Apart from LSE, Lomonosov Moscow State University (11th rank) and ETH Zurich in Switzerland (20th rank) are other schools outside the US that made it to the top 20 billionaire schools list.
Among those billionaires who hold a tertiary-level degree, 42% graduated with a bachelor’s degree, 26% have a master’s degree, 21% finished their MBA and 11% attained a PhD. The Wealth-X and UBS Billionaire Census 2014 makes another interesting finding -more than a quarter of the billionaires who obtained their undergraduate degrees in the 16 American universities on the list were born outside of the United States. Nearly 40% who attended these top American schools for their post-graduate studies were not US citizens.
Indian billionaires recently threw up an interesting trend found nowhere else in the world sticking to their roots. Despite popular notions of billionaires being jet-setting, cosmopolitan individuals, most Indian billionaires are still based in the same locations where they were raised. Around 95% of Indian billionaires, who currently have their primary business in India, also grew up there.The trend globally is very different.
Around 23% or just 1 in 4 billionaires globally have the same home city as the city of their primary business. Only 39% of all billionaires globally have the same home state as the state of their primary business.Billionaire hotspots such as Singapore, Switzerland and Hong Kong have emerged as favoured destinations for the ultra-rich. However, only 36, 34, and 25% of their billionaire populations respectively , grew up in these countries.
Interestingly , 3 out of every 10 billionaires in India don't even have a college degree.
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