Totalling around 352,000 individuals, the ultra-wealthy population is a highly exclusive segment of the wealthy class, comprising just 1.2% of the world's millionaires with a net worth of $30 million or more. Which universities produce or attract such wealthy individuals, and how do their alumni differ across institutions?
Here, Moneyzine.co.uk examines the UK universities ranking highest for ultra-high-net-worth alumni according to the most recent report from Altrata, plus the net worth's of some of their most notable graduates. Compared internationally, Harvard (US) and a number of other US institutions stand in a league of their own. However, UK universities also feature prominently, with five UK institutions making it into the top 15 non-US universities with the most UHNW alumni.
Oxford and Cambridge are particularly noteworthy in this regard, with Oxford producing 3,356 UHNW alumni and Cambridge taking the top spot for any non-US university, producing an estimated 4,149 UHNW alumni. But what sets these institutions apart from others? Is it their prestige and reputation, or do they offer something more tangible that enables their graduates to achieve such wealth?
“It’s perhaps no surprise that some of the UK’s most esteemed universities take the top spots for turning out the highest number of high-net-worth alumni - but it is certainly notable just how much the UK dominates globally aside from the US.
What is particularly interesting about these findings are that the mostly publicly-funded universities in the UK compete with private institutions in the US - notorious for private donations - suggesting that the prestigious education and long-standing reputation of UK universities serves them best overall.”Jonathan Merry, CEO of Monezine.com
Why does the US dominate so spectacularly?
Out of the top 20 universities with the highest number of UHNW alumni, only four are situated outside of the United States on a global scale, with two (Oxford and Cambridge) located in the UK.
The UK may be home to the highest number of universities with UHNW alumni outside the US, but the fact remains that the US completely dominates the global ranking. Why?
The top ranking US universities are almost all private universities, attracting notoriously large corporate and individual donations that consolidate their position internationally for strong academic reputations. What’s more, this reflects how beneficial the networking opportunities within these institutions are. Most UHNW alumni (75%) have self-made fortunes, demonstrating that their alma mater serves as a launching pad for success - largely thanks to the global talent that these prestigious US universities draw.
Top UK Universities For UHNW Alumni
1. University of Cambridge
(4,149 UHNW Alumni | 349 known)
The University of Cambridge is one of the most prestigious institutions of higher education in the world, renowned for its academic excellence and research prowess. It has produced a significant number of UHNW individuals, with an estimated figure of 4,149 UHNW alumni. Despite ranking behind the top six institutions in the US, Cambridge is the leading UK university in terms of producing multimillionaire alumni. However, with less than a quarter the number of UHNW alumni compared to Harvard (17,660 UHNW alumni), the university still has a way to go to catch up.
Cambridge has produced many notable alumni who have gone on to achieve great success in business and finance. Baron Thomson of Fleet, who controls the Thomson Reuters media empire, is thought to be amongst the wealthiest Cambridge alumnus with an estimated net worth of 58 billion USD.
Other wealthy alumni include Sir Martin Sorrell, CEO of the WPP advertising empire, and Lord Bilimoria, founder of Cobra Beer. Additionally, Andrew Christopher Currie and John Reece, both INEOS executives, have fortunes of 7.7 and 7.65 billion USD, respectively.
2. University of Oxford
(3,356UHNW Alumni | 327 known)
Oxford University has a long-standing reputation as one of the most prestigious universities in the world, with a history dating back to the 11th century. It is consistently ranked as one of the top universities globally, and has produced numerous notable alumni across various fields, including a long list of Nobel prize winners.
The university has an estimated 3,356 UHNW alumni, with a median wealth of $115 million. Of these alumni, 17.7% are women, with an average age of 59.5 years old. Around 76% of these individuals are self-made, with 4.4% inheriting their wealth.
Among the notable wealthy alumni of Oxford are Rowan Atkinson, who is worth an estimated £110 million, and Guy and George Weston, who have an estimated net worth of over £10 billion. Guy and George Weston are joint owners of holding company Wittington Investments, along with other family members.
3. London School of Economics
(2,017 UHNW Alumni | 205 known)
The London School of Economics (LSE) is a prestigious UK institution with a reputation for excellence in social sciences. It ranks as the third top university for UHNW alumni, producing an estimated 2,017.
The school's notable alumni include George Soros, the billionaire investor and philanthropist who founded Soros Fund Management, and Michael Edward Platt, who studied civil engineering at Imperial before pursuing mathematics and economics at LSE, and is now worth an estimated $9.91 billion.
4. Imperial College London
(964 UHNW Alumni | 93 known)
Imperial College London, a science and engineering-focused institution, has produced 964 ultra-high net worth alumni, with 93 of them being publicly known. Imperial College London consistently ranks among the top 10 universities in the world for engineering and technology, and has produced 14 Nobel laureates and 3 Fields Medalists in addition to being the 11th top non-US university for UHNW alumni.
Notable alumni include Michael Birch, who studied physics and founded social networking website Bebo. He sold the website to AOL in 2008 for $850 million, and later bought it back for $1 million. Another notable alumni is Ian Read, who studied chemical engineering at Imperial and is currently the executive chairman of Pfizer Inc., with an estimated net worth of $154.42 million.
5. London Business School
(747 | 78 known)
London Business School is considered one of the world's leading business schools and is known for its prestigious MBA program. It was founded in 1964 and has since then produced many successful business leaders and entrepreneurs from around the world.
Jim Ratcliffe, who received his MSc in Finance from LBS, is one of the wealthiest alumni with an estimated net worth of $25 billion USD. Another notable alumni is Idan Ofer, who earned his MBA in the 1980s and is the founder of Eastern Pacific Shipping and principal of the Quantum Pacific Group, with a net worth of $11 billion USD.
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