List: 8 US Colleges That Produce Most Millionaires
source link: https://www.businessinsider.com/top-us-colleges-that-produce-the-most-millionaires-ranked-2023-2
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8. Princeton University
Location: Princeton, New Jersey
Approx. size of each undergraduate class: 5,548
Cost of tuition as of 2023: $57,410
The university accounts for 3% of all centi-millionaires in the country, per the wealth report.
One of the most prominent Princeton alumni is Jeff Bezos, the chairman and founder of Amazon. The 1986 graduate was worth $122 billion and the third-richest person in the world as of February 17, per the Bloomberg Billionaires Index.
Other notable alumni include Michelle Obama and former Google CEO Eric Schmidt.
7. Cornell University
Location: Ithaca, New York
Approx. size of each undergraduate class: 3,218
Cost of tuition as of 2023: $62,456
The university accounts for 3% of all centi-millionaires in the country.
Cornell's list of prominent alumni include Bill Nye, the host of "Bill Nye the Science Guy," which aired between 1993 to 1998.
Other famous alumni include Supreme Court justice Ruth Bader Ginsburg, and Ratan Tata, the super-wealthy chairman of Indian conglomerate Tata Group.
6. Yale University
Location: New Haven, Connecticut
Approx. size of each undergraduate class: 6,494
Cost of tuition as of 2023: $64,700
The university accounts for 4% of all centi-millionaires in the country. One of them is Ben Silbermann, the co-founder of Pinterest who graduated from Yale in 2003. He was worth $1.5 billion as of February 16, per Forbes.
Other notable alumni include former President Bill Clinton and 2016 Democratic nominee Hillary Clinton, who met while studying in Yale Law and graduated together in 1973.
5. Columbia University
Location: New York City, New York
Approx. size of each undergraduate class: 9,739
Cost of tuition as of 2023: $65,524
The school's alumni base boasts 4% of the richest Americans, including like Warren Buffet, the investing legend and CEO of Berkshire Hathaway, who went to Columbia's business school.
He was the fifth-wealthiest person in the world, with a net worth of $108 billion as of February 2017, per the Bloomberg Billionaires Index.
Sallie Krawcheck, former CEO of Citi Global Wealth Management, and New England Patriots owner Robert Kraft also attended.
4. University of Pennsylvania
Location: Philadelphia, Pennsylvania
Approx. size of each undergraduate class: 2,409
Cost of tuition as of 2023: $56,212
UPenn has produced 4% of the country's centi-millionaires, including Tesla and SpaceX CEO Elon Musk.
Musk was the second-richest person in the world as of 17 February, per Bloomberg, with a net worth of $183 billion. He graduated UPenn in the 1990s with a degree in economics.
Former President Donald Trump is an alumnus of UPenn's Wharton School of Finance.
The percentage of centi-millionaires coming from UPenn has risen compared to a decade ago, expert Andrew Amolis told Insider.
Amoils is Head of Research for New Worth Wealth, a company which partnered with Henley & Partners to get data for the report.
3. Stanford University
Location: Stanford, California
Approx. size of each undergraduate class: 1,736
Cost of tuition as of 2023: $57,693
With 5% of America's richest coming from Stanford University, the college is third on the list. Notable alumni include Google founder Sergei Brin and Netflix founder Reed Hastings.
While other universities in the list have remained relatively constant in the percentage of centi-millionaires they produce, Stanford's percentage has risen compared to a decade ago, Amoils said.
2. Massachusetts Institute of Technology
Location: Cambridge, Massachusetts
Approx. size of each undergraduate class: 4,657
Cost of tuition as of 2023: $57,590
The second university on the list is Massachusetts Institute of Technology, which has produced 5% of the country's richest. These include former Merrill Lynch CEO John Thain.
Other famous alumni of MIT include former Fed chairman Ben Bernanke, Israel's Prime Minister Benjamin Netanyahu, and Bill Hewlett, co-founder of Hewlett-Packard.
Along with UPenn and Stanford, MIT's has produced a greater number of centi-millionaires, compared to 10 years ago, Amoils said.
1. Harvard University
Location: Boston, Massachusetts
Approx. size of each undergraduate class: 1,984
Cost of tuition as of 2023: $52,659
At the top of the list is Harvard University, whose alumni account for 7% of the country's centi-millionaires.
Some of the biggest technology bigwigs are Harvard alumni, like the co-founder of Microsoft, Bill Gates, who had a net worth of $117 billion as of February 17, per Bloomberg.
Meta's CEO Mark Zuckerberg enrolled at Harvard in 2002 but dropped after founding Facebook. His net worth was $64.2 billion on February 17, Bloomberg said.
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. Eight of its alumni went on to lead the country: John Adams, John Quincy Adams, John F. Kennedy, Franklin Delano Roosevelt, Theodore Roosevelt, George Bush, Rutherford B. Hayes, and Barack Obama.
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