While millionaires are a dime a dozen – well, maybe that’s an exaggeration, but there are 9.63 million of them – billionaires are in a much more exclusive club. There are only 2,325 billionaires in the world, which is a 7 percent increase from last year’s billionaire boy’s club. And yes, it is a boy’s club: 2,039 of the members are male.
A 2014 survey by Wealth-X and UBS Census also reveals some other interesting facts:
- The average billionaire has a net worth of $3.1 billion
- Regarding cities, New York has the most billionaires (103), followed by Moscow (85) and Hong Kong (82)
- 50% of the billionaires in the world obtain their business degree from one of the 10 schools on this list
- 7 of the 10 business schools that produce the most billionaires are located in the U.S.
Keep reading to discover the 10 business schools with the most billionaires, according to Wealth-X and UBS Census.
10. London Business School
Number of Billionaire MBA Grads: 4
One of only 3 schools on the list not located in the U.S., London Business School, which is located in Regents Parks in London, England, was founded in 1964. The school awards over 1,800 degrees each year, and has over 35,000 alumni in 43 countries. The school has executive MBA partnerships with Columbia Business School, Hong Kong University, and the Dubai Centre. Financial Times ranks London Business School as the 5th best business school in the world. One of the school’s 4 billionaire MBA graduates is Kumar Mangalam Birla. Birla is the chairman of the Aditya Biria Group, which is one of the largest corporations in India.
9. University of Southern California
Number of Billionaire MBA Grads: 5
Marshall School of Business at the University of Southern California is ranked the 9th best business school by U.S. News & World Report. The school was founded in 1920 as the School of Commerce and Business Administration, and is located in Los Angeles, California. One of the school’s billionaire grads is Ivan Glasenberg, who has a net worth of $5.9 billion according to Forbes. Glasenberg, who was born in South Africa and lives in Switzerland, is the chief executive of Glencore Xstrata, one of the largest mining and trading companies in the world.
8. International Institute for Management Development
Number of Billionaire MBA Grads: 5
Located on Geneva Lake in Lausanne, Switzerland, IMD is ranked #1 on the Forbes list of best international business schools. It is also ranked #1 in executive education worldwide by Financial Times, which also ranks the school #1 in open programs worldwide. IMD was established in 1990, and boasts 80,000 alumni. One notable graduate is Susanne Hanna Ursula Klatten, who has a net worth of $15.3 billion and owns the German company Bayerische Motoren Werke. While that may not sound familiar, its acronym, BMW, will certainly ring a bell. The company also manufactures Rolls Royce and Mini cars.
7. New York University
Number of Billionaire MBA Grads: 7
New York University’s Stern School of Business, which was founded in 1900, is one of the oldest business schools in the world. It is ranked #3 in the world for research programs, 8th by the Economist, 17th by the Financial Times, and 23rd by Forbes. Over 750 of the school’s alumni are CEOS in some of the top firms in the world. One of those graduates is Forrest Edward Mars, Jr, who is worth over $25 billion and owns Mars, the largest candy manufacturer in the world. You can thank this American billionaire if you’ve ever gotten a cavity – or a stern warning from your dentist – for eating Snickers, 3 Musketeers, Skittles, Twix, M&Ms, or Milky Ways.
Number of Billionaire MBA Grads: 9
INSEAD was founded in 1957 and its first campus was the Palace of Fontainebleau France. Georges Doriot, a Harvard professor and venture capitalist, was one of the original founders. INSEAD now has two more campuses in Singapore, and Abu Dhabi. INSEAD is ranked #5 by Financial Times. According to a study by the Wharton School of Business, INSEAD admits 1,000 students a year, more than any other business school. One notable graduate is Reinold Geiger, who has a net worth of $1.4 billion, lives in Switzerland, and oversees French cosmetics firm L’Occitane. According to Forbes, one of the company’s shea butter products is sold every 10 seconds somewhere in the world. Geiger is #1284 on Forbes Global 2000 list.
5. University of Chicago
Number of Billionaire MBA Grads: 10
University of Chicago’s Booth School of Business, founded in 1898, is the 2nd oldest business school in the U.S. The school has campuses in the Hyde Park area of Chicago, and also in the city’s downtown area. In addition, there are locations in London, Hong Kong, and Singapore. The Economist ranks Booth as the #1 business school in the world. Forbes ranks it #2, and U.S. News & World Report ranks it #4. One of its graduates is David Gilbert Booth, who has a net worth of $1.5 billion, and is a cofounder of Dimensional Fund Advisors (DFA), which sells low-cost index funds. In 2008, he donated $300 million to the business school, which was the largest donation in the school’s history. The University of Chicago Booth School of Business now bears his name.
4. University of Pennsylvania
Number of Billionaire MBA Grads: 12
Established in 1881, Wharton School of Business is the world’s first business school. It has the largest and one of the most published faculty in the world, and also has campuses in Philadelphia and San Francisco. The school ties for #1 in U.S. News & World Report’s rankings, and is ranked 4th by both Forbes and Financial Times. Wharton has over 79,000 alumni, among them, Ronald Owen Perelman. An American, Perelman has a net worth of $14.5 billion, and is the king of leveraged buyouts. His company, MacAndrews & Forbes Holdings, Inc. has invested in companies ranging from Revlon to Sunbeam Products. Perelman, who lives in New York, is one of the richest Americans and is 67th on Forbes list of billionaires.
3. Columbia University
Number of Billionaire MBA Grads: 14
Columbia Business School in Manhattan, New York, was established in 1916. It is ranked the 5th best business school by Financial Times, while it holds the 7th place with Forbes. U.S. News & World Report ranks it the 8th best business school, and it has garnered the 10th spot by The Economist. One of the school’s 14 billionaire MBA grads is Peter Woo, also known as Kwong Ching Woo, who has a net worth of $7.2 billion. A resident of Hong Kong, he was chairman of Wheelock and Company, which he inherited from his father, and recently turned over to his son. Wheelock and Company is a real estate company ranked #729 on the Forbes Global 2000
2. Stanford University
Number of Billionaire MBA Grads: 23
The Stanford Business School was established in 1925. It is ranked the top business school by Forbes, and is tied for 1st place on U.S. News & World Report’s list of best business schools. It is ranked 2nd by Financial Times, and 9th by The Economist. Stanford has the lowest acceptance rate among American MBA programs. The school has 23 MBA grads who are billionaires. With a net worth of $22.4 billion, Philip Knight, the chairman of NIKE, is probably one of the most well-known billionaires on the list. Knight is a former track star, and along with his track coach, he founded Blue Ribbon Sports and later changed the name to Nike. Knight donated $105 million to the school to establish the Knight Management Center.
1. Harvard University
Number of Billionaire MBA Grads: 64
Established in 1908, Harvard Business School is located in Boston, Massachusetts. Harvard is tied for 1st place (with Stanford and Wharton) in U.S. News & World Report’s list of best business schools, and is also 1st in Financial Times’ ranking. The school is #3 on Forbes’ list, and is ranked 6th by The Economist. Harvard has produced far more billionaires than any other business school. It has produced three times more billionaires than 2nd place Stanford University. One of those grads is Jorge Paulo Lemann, the richest man in Brazil, who has a net worth of $24.5 billion. He is a partner of 3G Capital, which either owns or controls various companies including Burger King, Heinz, and Anheuser-Busch InBev.