From The Staff of MBA Admit.com
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London Business School Produces Some of the Wealthiest Graduates in the UK
A 2013 study compiled by Wealth-X has identified which schools are most likely to churn out super rich graduates. The chart was topped with prestigious universities Oxford and Cambridge, followed by London School of Economics, Imperial College London and London Business School in third, fourth and fifth places, respectively.
The list was determined by sorting through alumni from each school and determining which alumni were estimated to be worth £20 million or more. The report published the top 20 universities in the UK producing über wealthy graduates, totaling 2,318 ultra wealthy alumni worth a total of approximately £173 billion. The report states that for the top two universities, Oxford and Cambridge, only less than a third of the super rich became wealthy by inheritance and not by self-made means. However, it is unclear on whether the same is true for many of the remaining listed universities. Additionally, over 90% of the alumni appearing on the list of super rich alumni are men, although many schools are now taking greater initiative to accept women with high potential into their programs. With these initiatives, hopefully the rise in wealthy and successful women will make a greater indenture within the next decade.
Of the schools listed, London Business School has some of the most notable and widely known businessmen topping the list, such as Cyrus Mistry, chairman of Indian conglomerate Tata Teas; Justine Greening, political graduate minister and Tory MP for Putney; Sir Richard Greenbury, Marks & Spencer chairman; and Huw Jenkins UBS’s former chief executive officer. Among these, the list totaled 273 super rich graduates hailing from London Business School, cumulating a net worth of approximately £8.4 billion.
It should also be noted that while these UK schools are certainly not lagging behind on developing productive and successful graduates, on a global scale only Oxford and Cambridge made the top 20 list, with 17 of the 20 schools globally producing the wealthiest graduates coming from the U.S. Of these, only 3 American public universities made the list of producing 350 or more super wealthy graduates: the University of California, Berkeley; the University of Virginia; and the University of Michigan. Lastly, as may be a surprise to some, the only non-UK and non-U.S. university to make the list of producing the most wealthy graduates globally was the University of Mumbai, which has produced 372 alumni with a net worth of £20 million or more.
Dr. Shel (Shelly Watts)
President, MBA Admit.com