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August 18, 2016

Smarter Money: USA dominates list for top millionaire-producing universities in the world

By Codelia Mantsebo

According to a survey commissioned by Spear’s Magazine and leading consultancy firm WealthInsight with Elite Traveler, universities located in the United States are dominant for producing millionaires, with thirty-one universities of the top fifty being American Universities.

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The newly released data shows that nine of the top ten millionaire-producing universities are in the United States, while all eight Ivy league institutions are in top 25.

Harvard, whose alumni include Barack Obama and John F Kennedy, ranked first, followed by the University of Pennsylvania. Stanford University, University of Oxford (UK), and the University of California all follow respectively to complete the top five universities producing millionaire alumni.

Universities in the UK produce the second highest number of millionaires in the world after the US, with University of Oxford ranking in fourth place – beating University of Cambridge which came in eleventh place. London came out top with the University of London (12), London School of Economics (31), and Imperial College (50), but Manchester is also in the millionaire-producing list with the University of Manchester.

Australia followed behind with four universities, two in Melbourne and two in Sydney, also making the top 50.

Ecole Polytechnique in France and Tel Aviv University in Israel are other universities outside the UK and US that made it to the top 30.

Mexico and Ireland both made the list with Instituto Tecnologico de Estudios Superiores de Monterrey (ITESM) at number 36 and Trinity College at 47.

Commenting on the findings, Head of WealthInsight, Oliver Williams said: “Though the US far outnumbers the UK by sheer volume of millionaires, ranking second on this list by number of institutions is telling of the prowess that the UK’s universities have globally.

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“Oxford and Cambridge are household names for academic brilliance the world over, and while not all their graduates go onto earn their millions, these universities do provide fertile recruiting grounds for some of the world’s leading corporations.”

“Since most institutions on this list also rank highly in academic merits, there is evidence here of how intellect often breeds wealth. Entrepreneurial ideas are nursed at these schools, while they prove fertile recruiting grounds for some of the world’s leading corporations. However, we haven’t included the large numbers of university dropouts – such as Mark Zuckerberg and Bill Gates – who went on to make billions.

IN FULL – The top 50 universities for producing millionaires:

Rank University Country City
1 Harvard University USA Cambridge
2 University of Pennsylvania USA Philadelphia
3 Stanford University USA Stanford
4 Oxford University UK Oxford
5 University of California, Berkeley USA Berkeley
6 University of Texas USA Austin
7 Cornell University USA Ithaca
8 Princeton University USA Princeton
9 Yale University USA New Haven
10 University of Michigan USA Ann Arbor
11 Cambridge University UK Cambridge
12 University of London UK London
13 California State University USA Los Angeles
14 Ecole Polytechnique France Palaiseau
15 New York University USA New York
16 Columbia University USA New York
17 Massachusetts Institute of Technology USA Boston
18 Southern California University USA Los Angeles
19 Dartmouth College USA Hanover
20 University of Wisconsin USA Madison
21 University of Illinois USA Champaign
22 University of Virginia USA Charlottesville
23 Sciences Po France Paris
24 University of New South Wales Australia Sydney
25 Brown University USA Providence
26 Georgetown University USA Washington
27 Duke University USA Durham
28 Boston University USA Boston
29 Tel Aviv University Israel Tel Aviv-Yafo
30 Bocconi University Italy Milan
31 London School of Economics UK London
32 Sydney University Australia Sydney
33 Miami University USA Oxford (Ohio)
34 University of Toronto Canada Toronto
35 Northwestern University USA Chicago
36 Instituto Tecnologico de Estudios Superiores de Monterrey (ITESM) Mexico Monterrey
37 Manchester University UK Manchester
38 University of Notre Dame USA Indiana
39 North Carolina University USA Chapel Hill
40 Boston College USA Boston
41 McGill University Canada Montreal
42 Purdue University USA West Lafayette
43 Indiana University Bloomington USA Bloomington
44 University of Florida USA Gainesville
45 Monash University Australia Melbourne
46 National University of Singapore Singapore Singapore
47 Trinity College Ireland Dublin
48 Texas A&M University USA College Station
49 University of Melbourne Australia Melbourne
50 Imperial College UK London

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