Top 15+ Universities Have the Most Super Wealthy Graduates (Centi-Millionaires) In The World
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| Top Universities With The Most Super Wealthy Graduates |
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According to a new study, Harvard, Stanford, and the University of Pennsylvania graduate the highest number of "centi-millionaires" of any universities in the world.
New World Wealth, a global wealth intelligence firm, released their Centi-Millionaire Report, which included exclusive data on individuals with $100 million in investable assets.
The report claims that these people are typically the creators of multinational corporations or the beneficiaries of enormous fortunes.
Read more: Top 10 Most Prestigious Universities In The World by Times Higher Education
Who are centimillionaires?
What is the current threshold for being deemed "super-wealthy" in terms of money? 'Centi-millionaires' are those who hold investable assets valued at USD 100 million, as indicated by the 2020s benchmark. Those who possess this kind of wealth are usually the heirs to huge fortunes or the founders of multinational corporations.
There were only 28,420 centi-millionaires in the world as of June 2023. The Centi-Millionaire Report contains unique information on centenarians that was gathered by New World Wealth, a leader in wealth intelligence worldwide. Here are some expert commentary and some methodology.
READ MORE: Top 15 Most Famous Colleges For Wealthy People In The US
Who are the new ultra-wealthy?Most centi-millionaires are white males over the age of 55 from the United States and Europe (38% of 'centis' are American, with most living in New England or the San Francisco Bay Area). But things are starting to look up. Over the next decade, the number of Asian centi-millionaires is expected to grow at a rate twice that of its European and American counterparts, with China and India leading the way. |
How many centimillionaires are there in the world?
There are now 28,420 centi-millionaires in the world, up 12% from 2022 and doubling the number in just 20 years.
The United States accounts for 38% of the world's billionaires, followed by China and India.
Of the top 50 cities in the world, 775 of the world's centi-millionaires call New York City home. However, the city is home to over 1,200 millionaires who either permanently reside there or own second homes there.
In many emerging market countries, there are very few billionaires, making the wealth band largely irrelevant, according to New World Wealth's head of research, Andrew Amoils.
But there are a lot of millionaires and billionaires in these countries. Kenya, for instance, has no billionaires but 15 centi-millionaires, while South Africa has just 5 billionaires compared to 102 centi-millionaires."
"The centi-millionaire wealth band is therefore a far more accurate reflection of the 'super-wealthy' community in these countries."
READ MORE: Top 10+ Richest Business Families in Japan and Net Worth (Updated)
Where do centimillionaires live?
There are only 50 cities in the world that are considered to be "major," and 12 of those cities are in the United States. There are 3,311 centis in the United States, or 11.7% of the world's total.
There are 692 resident centi-millionaires in the Bay Area, with Los Angeles coming in second with 504 centis. Although New York tops the list, its population of extremely wealthy people has grown by only 5% in the past year. Contrast that with the 11% growth seen in the Bay Area.
With 286 centi-millionaires, Chicago ranks ninth on the list, but this is a significant drop of nearly 16 percent from last year.
Top 15+ Universities With The Most Super Wealthy Graduates In The World
1. Harvard University (USA)
Number of centimillionaires: 1,088
Harvard, the oldest university in the United States and the alma mater of such luminaries as Bill Gates and Mark Zuckerberg, has produced 7 percent of all millionaires in the country.
When it comes to graduate employability, QS places Harvard at #5. According to the QS Global MBA Ranking 2023, Harvard's MBA Placements program is among the best in the world.
Harvard, which is the oldest college in the country, also claims the title of the institution that has produced the largest number of US presidents. John Adams, John Quincy Adams, John F. Kennedy, Franklin Delano Roosevelt, Theodore Roosevelt, George W. Bush, Rutherford B. Hayes, and Barack Obama are just eight of its alums who have gone on to be president.
2. Stanford University (USA)
Number of centimillionaires: 629
Just like MIT, Stanford is responsible for 5% of the nation's millionaires. QS World University Rankings 2023 places it at #3 overall and #2 for graduate employability.
Sergey Brin, co-founder of Google, and Reed Hastings, co-founder of Netflix, are just two of the notable alumni.
3. University of Pennsylvania (USA)
Number of centimillionaires: 538
The total number of people who have made a hundred million dollars is 538.
Four percent of all American billionaires have graduated from UPenn. QS Graduate Employability ranks it at #19, and QS World University Rankings places it at #13 for 2023.
Elon Musk, CEO of Tesla and SpaceX, is one of UPenn's 4 million dollar alumni.
Musk was the second-richest person in the world as of 17 February, per Bloomberg, with a net worth of $183 billion. He earned an economics degree from the University of Pennsylvania in the '90s.
Former President Trump attended the University of Pennsylvania's Wharton School of Business.
The percentage of centi-millionaires coming from UPenn has risen compared to a decade ago, expert Andrew Amoils told Insider.
4. University of Oxford (UK)
Number of centimillionaires: 490
Oxford is a place apart, rich in history and tradition. The University of Oxford can boast a continuous history spanning nine centuries, making it the oldest university in the English-speaking world. With a combined fortune of over £10 billion, Guy Weston and his brother George Weston, both of whom attended Oxford University, are the wealthiest Oxford alums in history.
5. Massachusetts Institute of Technology (USA)
Number of centimillionaires: 486
Massachusetts Institute of Technology comes in at number two, having produced 5% of the country's wealthiest. Among them is John Thain, the former CEO of Merrill Lynch.
Former Federal Reserve Chairman Ben Bernanke, Israeli Prime Minister Benjamin Netanyahu, and Hewlett-Packard co-founder Bill Hewlett are also MIT alums.
According to Amoils, compared to 10 years ago, MIT has produced an increased number of centi-millionaires, along with UPenn and Stanford.
6. Yale University (USA)
Number of centimillionaires: 472
The university is responsible for producing 4% of the nation's millionaires. Ben Silbermann, a Yale University alum and one of Pinterest's co-founders, is one such person. According to Forbes, his net worth was $1.5 billion on February 16.
Hillary Clinton, the 2016 Democratic nominee, and former President Bill Clinton both attended Yale Law and graduated in 1973.
7. University of Cambridge (UK)
Number of centimillionaires: 405
More than 800 years old, it is a paragon of the best education in the world, producing such luminaries as Isaac Newton, Stephen Hawking, Charles Darwin, and countless others. Let's discover some of the famous University of Cambridge's notable alumni!
Baron Thomson of Fleet, owner of the Thomson Reuters news agency, is the wealthiest Cambridge graduate. After graduating from Selwyn, he took over the family business and continued his studies in history. Sir Martin Sorrell, CEO of the WPP advertising empire, is another affluent Cambridge graduate. He made £48 million in 2017.
8. Columbia University (USA)
Number of centimillionaires: 392
Columbia University's business school has produced 4% of the wealthiest Americans, including investing legend Warren Buffet and Berkshire Hathaway CEO Charlie Munger.
According to the Bloomberg Billionaires Index, he had a net worth of $108 billion in February 2017, making him the fifth-wealthiest person on the planet.
Robert Kraft, owner of the New England Patriots, and Sallie Krawcheck, a former CEO of Citi Global Wealth Management, were also present.
9. Princeton University (USA)
Number of centimillionaires: 330
Jeff Bezos, the chairman and founder of Amazon, is a famous Princeton alum. According to the Bloomberg Billionaires Index, the 1986 grad was worth $122 billion as of February 17 and ranked third on the list of the world's richest people.
Eric Schmidt, the former CEO of Google, and Michelle Obama are two more famous alumni.
Other universities in the list
10. INSEAD (France)
Number of centimillionaires: 258
11. Cornell University (USA)
Number of centimillionaires: 234
12. Tsinghua University (China)
Number of centimillionaires: 222
13. London School of Economics (UK)
Number of centimillionaires: 215
14. University of Tokyo (Japan)
Number of centimillionaires: 206
15. University of California, Berkeley (USA)
Number of centimillionaires: 202
16. Peking University (China)
Number of centimillionaires: 194
17. London Business School (UK)
Number of centimillionaires: 180
18. University of Chicago (USA)
Number of centimillionaires: 178
Summary
Eleven of the top twenty universities on the list are American. The United Kingdom, France, China, and Japan all make appearances as well.
Harvard University in the United States ranks first, having produced 1,088 centi-millionaires. This amounts to 3.8% of all centi-millionaires.
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