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Harvard University (Photo: Bloomberg)
Almost a fifth (17.1%) of the world’s individuals with liquid investable assets of $100 million or more were educated at just 10 universities across the globe, according to a report by consulting firm Henley & Partners.
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Notes:
‘Centi-millionaires’ refers to individuals with liquid investable wealth of USD 100 million or more.
Figures for December 2023.
Source: New World Wealth
Seven of the Top 10 universities in terms of graduates who have gone on to become centi-millionaires, or ‘centis’, are located in the USA. These premium American educational institutions account for 13.3% of the global centi-millionaire population, with three Ivy League colleges leading the way, the report revealed.
Harvard University ranks first, having been attended by 3.6% of the world’s centis, Stanford University takes second place with 2.2% of the world’s centi-millionaires among its alumni, and the University of Pennsylvania ranks third with 1.9%.
The other four US universities in the Top 10 are Massachusetts Institute of Technology (MIT), where 1.7% of the world’s centi-millionaires graduated, in 4th place, Yale University 6th with 1.6%, Princeton University ranks 8th, with 1.2%, and Columbia University in 9th place with 1.1%.
Two UK universities in the upper echelons
The UK’s two Top 10 universities account for 2.9% of the world’s centi-millionaires between them. In 5th place, the University of Oxford has seen 1.6% of the world’s centi-millionaires pass through its halls (the highest in the UK), while the University of Cambridge in 7th place has 1.3% of the global centi-millionaire cohort among its graduates.
France’s INSEAD rounds up the Top 10
France has one university, INSEAD, in the Top 10, with its past students constituting 0.9% of the global centi-millionaire population. The renowned business school’s over 66,000 alumni of 169 nationalities are based in 180 countries and in any MBA intake there are students of 70 nationalities.
Universities to watch
In addition to the historically established educational institutions in the Top 10, five universities are showing strong growth potential in terms of the proportion of centi-millionaires who are among their graduates.
Switzerland boasts two — the University of St. Gallen and IMD Business School — jointly accounting for over 0.4% of the world’s centi-millionaires. St. Gallen’s alumni organization has over 42,000 members, while IMD has over 130,000 alumni in more than 180 countries, forming a powerful network.
Three other universities around the globe have been attended by over 0.2% of the world’s centi-millionaire population: the National University of Singapore, the University of Toronto in Canada, and the University of Melbourne in Australia. Among them, they have dozens of successful alumni in various spheres, including multiple Presidents of Singapore, Prime Ministers of Canada, and Governors General of Australia.
Harvard remains by far the most successful in terms of the number of graduates who are centi-millionaires, with 1,053 in 2024. Without doubt, having successful alumni enhances the reputations of and explains the demand for places and rivalry between students applying to these centers of excellence, which is even more intense among foreign students. The admitted class of 2028 saw 54,008 applicants for 1,974 places at Harvard, of which just 16.7% were granted to international students.
First Published: Sep 19 2024 | 12:12 PM IST
