These universities not only boast large endowments of up to $51.9 billion; they’ve also produced many of the world’s millionaires and billionaires, such as Mukesh Ambani and Lance Gokongwei.
Education is the key to a brighter future for many; studying in a good academic institution can cultivate the mind and spirit, resulting in individuals who constantly strive to be the best version of themselves. While a person’s intellect shouldn’t be based on the academic institutions they attended, there are universities that have a track record of producing many of the world’s wealthiest and most successful individuals.
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For years, certain institutions have been attracting people with big brains and equally big fortunes. Others have produced alumni who eventually became millionaires or billionaires after graduating. Whatever the case may be, these universities hold highly prestigious reputations on a global scale.
To learn more, below are five of the richest universities in the world that have attracted and produced the wealthiest alumni based on data from Forbes and the Statista Research Department:
Harvard University
Almost everyone has heard of Harvard University—a 387-year-old Ivy league school that many people consider to be the apex of academic excellence. In 2023, the university ranked second place in the Times Higher Education World University Rankings. The Massachusetts-based school has produced 29 billionaires with a total net worth $207 billion, as per a 2021 report from Forbes.
Famous alumni include billionaires Cameron and Tyler Winklevoss (brothers who made their fortune through cryptocurrency), Steve Ballmer (the former Microsoft CEO), and Jorge Paulo Lemann (a Brazilian investment banker).
With so many wealthy alumni and an esteemed reputation, it’s no surprise that Harvard also happens to be the university with the highest endowments based on 2023 data from the Statista Research Department. In the fiscal year of 2021 alone, the institution received $51.9 billion in endowments.
Stanford University
California’s Stanford University ranks second in this list, alongside University of Pennsylvania. Based on the 2021 data from Forbes, the university has produced 28 billionaires with a total net worth of $124.4 billion.
It also ranks at third place in 2023’s Times Higher Education World University Rankings. Some of its wealthiest alumni include David Velez (founder of Nubank, one of the most valuable digital banks in the world), Jerry Yang (the co-founder of Yahoo), and Vlad Tenev (CEO of Robinhood Markets).
In terms of endowments, Stanford received $37.8 billion in the fiscal year of 2021, ranking fourth in Statista Research Department’s 2023 data.
University of Pennsylvania
Tied with Stanford is the University of Pennsylvania, which also has 28 billionaire alumni with a total net worth of $284.8 billion, as per Forbes. These include former U.S. president Donald Trump, Elon Musk (the CEO of Tesla and SpaceX, as well as the owner of X), Gary Lauder (heir to the Estée Lauder empire), and the Philippines’ very own Lance Gokongwei (CEO of Filipino conglomerate JG Summit).
In 2023, the University of Pennsylvania took 14th place in the Times Higher Education World University Rankings. According to data from the Statista Research Department, the institution received a total of around $20.5 billion in endowments during the fiscal year of 2021.
Yale University
Yale University in Connecticut ranks fourth among the top five universities for the rich, having produced 21 billionaires with a total net worth of $140.8 billion. These include many of the Mars siblings—namely John, Valerie, and Victoria—who are heirs to the multi-billion dollar Mars family fortune.
Yale is also the alma mater of the Bass siblings Lee, Edward, Robert, and Sid, who all run multi-billion dollar oil enterprises. The Bass siblings are also known to be philanthropists, having donated millions to Yale and other academic institutions like Stanford University and Duke University. Joe Tsai (the co-founder of Alibaba) and Stephen Schwarzman (CEO of investment firm Blackstone) also hail from the prestigious university.
In 2023, Yale ranked 9th place in the Times Higher Education World University Rankings. According to the Statista Research Department, it also received endowments that added up to $42.3 billion in the fiscal year of 2021.
University of Mumbai
University of Mumbai is the only non-American institution to make it to the top five, a ranking it very well deserves. The Indian university has produced 20 billionaires with a total net worth of $162.8 billion. One of its most successful alumni is Mukesh Ambani, the richest man in Asia who manages the multi-billion dollar oil and gas conglomerate, Reliance Industries.
Ambani’s brother Anil also took up studies at the university, before pursuing an MBA in the University of Pennsylvania. Other wealthy alumni include Uday Kotak, the founder and CEO of one of India’s largest private sector banks, Kotak Mahindra Bank.
University of Mumbai places 1201–1500th in 2023’s Times Higher Education World University Rankings. The 150-year-old institution’s yearly endowments are undisclosed, though it’s reportedly been raising significant funds with the help of alumni and special initiatives.
Banner photo by Zhanhui Li via Unsplash.
