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Chart: Which Universities Have the Richest Graduates?

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COTW Universities

Chart: Which Universities Have the Richest Graduates?

Higher education is often considered the first rung in the ladder of success.

That’s why thousands of students flock to top-tier universities around the world, hoping to translate their degrees into financial outcomes. After all, a degree from specific institutions can often mean that a wealthy and secure future is in the books.

With a new fall term just around the corner, today’s chart relies on the third annual Wealth-X report ranking of global universities with the most ultra-high net worth (UHNW) alumni. We’ve also tracked their combined wealth, and how much each UHNW alumni makes on average.

Analyzing UHNW Riches

The Wealth-X database defines ultra-high net worth alumni as those who own at least $30 million in assets. In addition, the alumni figures are based on the actual known UHNW individuals from each university, then projected based on the sample size to predict total alumni within the global UHNW population.

One caveat to note is that both bachelor’s and master’s degree-holders have been considered, while UHNW individuals who may have attended more than one university have been counted twice. With that in mind, let’s dive in.

Upholding a Stellar Reputation

It’s immediately noticeable that a majority of universities on the list are located in the United States, with a high concentration on the East Coast—including the elite Ivy League.

Established in 1636, Harvard dwarfs all its Ivy League counterparts for the richest graduates. Its 13,650 UHNW alumni is double that of second-place Stanford (5,580 UHNW alumni), with twice the total wealth to boot.

One way that Harvard falls short is when average UHNW alumni wealth is considered in this chart, with Stanford beating it by a difference of $170 million per graduate. Regardless, it’s clear Harvard graduates go on to have a significant impact on the world. Notable alumni include political leaders such as former U.S. President Barack Obama, and billionaires such as Michael Bloomberg.

Interestingly, Princeton climbs the charts for total alumni wealth ($1.1 trillion), despite a lower UHNW alumni count of just over 2,000—but this also puts its wealth per graduate at a high of $516 million. Notable alumni from Princeton include Jeff Bezos and Steve Forbes. Meanwhile, Brown and Dartmouth are the only Ivy universities that don’t make the list at all.

Excellence Outside the U.S.

Zooming out, private universities dominate most of this list of richest graduates. In the United Kingdom, Cambridge, Oxford, and the London School of Economics and Political Science (LSE) have over 6,500 UHNW alumni combined. This represents a total of $1.08 trillion in wealth, an average of $174 million per UHNW grad.

Notable alumni and achievements from these institutions include:

  • Cambridge: Isaac Newton, Charles Darwin, Stephen Hawking
  • Oxford: 69 Nobel prize winners, Stephen Hawking, JRR Tolkien
  • LSE: 18 Nobel prize winners, including political leaders

*LSE’s label has been misrepresented in the original report as #26 instead of the actual #25.

Nearby in France, the graduate business school Institut Européen d’Administration des Affaires (INSEAD) has a total of 1,956 UHNW alumni and $356 billion in combined wealth—contributed by CEOs of companies like Credit Suisse, Royal Dutch Shell, Ericsson, and Lego.

It’s impressive that the National University of Singapore (NUS) enters the list, with 1,890 UHNW alumni and an average of $46.6 million to their name. Graduates from NUS have gone on to become Singaporean prime ministers and presidents, as well as high-ranking officials in the WHO and UN Security Council.

Here are the full statistics for the top 25 universities worldwide—does yours make the cut?

RankUniversityTotal WealthUHNW AlumniWealth per UHNW Graduate
1🇺🇸 Harvard University$4.7T13,650$349M
2🇺🇸 Stanford University$2.9T5,580$519M
3🇺🇸 University of Pennsylvania$1.8T5,575$319M
4🇺🇸 Columbia University$1.5T3,925$382M
5🇺🇸 Princeton University$1.1T2,180$516M
6🇺🇸 Massachusetts Institute of Technology$990B2,785$355M
7 🇺🇸 Yale University$777B2,400$323M
8🇺🇸 University of California Berkeley$760B2,385$318M
9🇺🇸 New York University$712B3,380$210M
10🇺🇸 The University of Chicago$707B2,405$293M
11🇺🇸 The University of Michigan$691B1,970$350M
12🇺🇸 The University of Southern California$548B2,645$207M
13🇺🇸 Cornell University$483B2,245$215M
14🇺🇸 The University of Texas at Austin$463B2,195$210M
15🇬🇧 University of Cambridge$390B2,760$141M
16🇺🇸 Northwestern University$389B2,725$142M
17🇺🇸 The University of California Los Angeles$375B1,945$192M
18🇫🇷 Institut Européen d'Administration des Affaires$356B1,965$181M
19🇬🇧 University of Oxford$349B2,290$152M
20🇬🇧 London School of Economics and Political Science$342B1,495$228M
21🇺🇸 University of Miami$309B1,700$181M
22🇺🇸 Boston University$277B1,640$168M
23🇺🇸 University of Virginia$246B1,650$149M
24🇺🇸 The University of Notre Dame$179B2,085$85M
25🇸🇬 National University of Singapore$88B1,890$46M

Where’s the Money, Really?

According to the report, a majority of UHNW alumni from these universities are “self-made” millionaires, who became successful through their own efforts rather than relying on family fortune or social status.

Of course, the name of a university is one step to climb on the ladder. What’s often glossed over is how steep the tuition fees at private institutions are, which can rack up significant student debt over time.

Graduates from Boston University, Columbia University, and Northwestern University relied the most on inheritance for their wealth, between 10-12%. A combination of both self-made and inherited wealth sources are also common for UHNW alumni—and it’s not a stretch to say that it helped them pay off debts before focusing on their wealth creation.

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Chart of the Week

The Road to Recovery: Which Economies are Reopening?

We look at mobility rates as well as COVID-19 recovery rates for 41 economies, to see which countries are reopening for business.

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The Road to Recovery: Which Economies are Reopening?

COVID-19 has brought the world to a halt—but after months of uncertainty, it seems that the situation is slowly taking a turn for the better.

Today’s chart measures the extent to which 41 major economies are reopening, by plotting two metrics for each country: the mobility rate and the COVID-19 recovery rate:

  1. Mobility Index
    This refers to the change in activity around workplaces, subtracting activity around residences, measured as a percentage deviation from the baseline.

  2. COVID-19 Recovery Rate
    The number of recovered cases in a country is measured as the percentage of total cases.

Data for the first measure comes from Google’s COVID-19 Community Mobility Reports, which relies on aggregated, anonymous location history data from individuals. Note that China does not show up in the graphic as the government bans Google services.

COVID-19 recovery rates rely on values from CoronaTracker, using aggregated information from multiple global and governmental databases such as WHO and CDC.

Reopening Economies, One Step at a Time

In general, the higher the mobility rate, the more economic activity this signifies. In most cases, mobility rate also correlates with a higher rate of recovered people in the population.

Here’s how these countries fare based on the above metrics.

CountryMobility RateRecovery RateTotal CasesTotal Recovered
Argentina-56%31.40%14,7024,617
Australia-41%92.03%7,1506,580
Austria-100%91.93%16,62815,286
Belgium-105%26.92%57,84915,572
Brazil-48%44.02%438,812193,181
Canada-67%52.91%88,51246,831
Chile-110%41.58%86,94336,150
Colombia-73%26.28%25,3666,665
Czechia-29%70.68%9,1406,460
Denmark-93%88.43%11,51210,180
Finland-93%81.57%6,7435,500
France-100%36.08%186,23867,191
Germany-99%89.45%182,452163,200
Greece-32%47.28%2,9061,374
Hong Kong-10%97.00%1,0671,035
Hungary-49%52.31%3,8161,996
India-65%42.88%165,38670,920
Indonesia-77%25.43%24,5386,240
Ireland-79%88.92%24,84122,089
Israel-31%87.00%16,87214,679
Italy-52%64.99%231,732150,604
Japan-33%84.80%16,68314,147
Malaysia-53%80.86%7,6296,169
Mexico-69%69.70%78,02354,383
Netherlands-97%0.01%45,9503
New Zealand-21%98.01%1,5041,474
Norway-100%91.87%8,4117,727
Philippines-87%23.08%15,5883,598
Poland-36%46.27%22,82510,560
Portugal-65%58.99%31,59618,637
Singapore-105%55.02%33,24918,294
South Africa-74%52.44%27,40314,370
South Korea-4%91.15%11,34410,340
Spain-67%69.11%284,986196,958
Sweden-93%13.91%35,7274,971
Switzerland-101%91.90%30,79628,300
Taiwan4%95.24%441420
Thailand-36%96.08%3,0652,945
U.S.-56%28.20%1,768,346498,720
United Kingdom-82%0.05%269,127135
Vietnam15%85.02%327278

Mobility data as of May 21, 2020 (Latest available). COVID-19 case data as of May 29, 2020.

In the main scatterplot visualization, we’ve taken things a step further, assigning these countries into four distinct quadrants:

1. High Mobility, High Recovery

High recovery rates are resulting in lifted restrictions for countries in this quadrant, and people are steadily returning to work.

New Zealand has earned praise for its early and effective pandemic response, allowing it to curtail the total number of cases. This has resulted in a 98% recovery rate, the highest of all countries. After almost 50 days of lockdown, the government is recommending a flexible four-day work week to boost the economy back up.

2. High Mobility, Low Recovery

Despite low COVID-19 related recoveries, mobility rates of countries in this quadrant remain higher than average. Some countries have loosened lockdown measures, while others did not have strict measures in place to begin with.

Brazil is an interesting case study to consider here. After deferring lockdown decisions to state and local levels, the country is now averaging the highest number of daily cases out of any country. On May 28th, for example, the country had 24,151 new cases and 1,067 new deaths.

3. Low Mobility, High Recovery

Countries in this quadrant are playing it safe, and holding off on reopening their economies until the population has fully recovered.

Italy, the once-epicenter for the crisis in Europe is understandably wary of cases rising back up to critical levels. As a result, it has opted to keep its activity to a minimum to try and boost the 65% recovery rate, even as it slowly emerges from over 10 weeks of lockdown.

4. Low Mobility, Low Recovery

Last but not least, people in these countries are cautiously remaining indoors as their governments continue to work on crisis response.

With a low 0.05% recovery rate, the United Kingdom has no immediate plans to reopen. A two-week lag time in reporting discharged patients from NHS services may also be contributing to this low number. Although new cases are leveling off, the country has the highest coronavirus-caused death toll across Europe.

The U.S. also sits in this quadrant with over 1.7 million cases and counting. Recently, some states have opted to ease restrictions on social and business activity, which could potentially result in case numbers climbing back up.

Over in Sweden, a controversial herd immunity strategy meant that the country continued business as usual amid the rest of Europe’s heightened regulations. Sweden’s COVID-19 recovery rate sits at only 13.9%, and the country’s -93% mobility rate implies that people have been taking their own precautions.

COVID-19’s Impact on the Future

It’s important to note that a “second wave” of new cases could upend plans to reopen economies. As countries reckon with these competing risks of health and economic activity, there is no clear answer around the right path to take.

COVID-19 is a catalyst for an entirely different future, but interestingly, it’s one that has been in the works for a while.

Without being melodramatic, COVID-19 is like the last nail in the coffin of globalization…The 2008-2009 crisis gave globalization a big hit, as did Brexit, as did the U.S.-China trade war, but COVID is taking it to a new level.

Carmen Reinhart, incoming Chief Economist for the World Bank

Will there be any chance of returning to “normal” as we know it?

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Chart of the Week

Visualizing the Countries Most Reliant on Tourism

With international travel grinding to a halt, here are the economies that have the most to lose from a lack of tourism.

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Visualizing the Countries Most Reliant on Tourism

Without a steady influx of tourism revenue, many countries could face severe economic damage.

As the global travel and tourism industry stalls, the spillover effects to global employment are wide-reaching. A total of 330 million jobs are supported by this industry around the world, and it contributes 10%, or $8.9 trillion to global GDP each year.

Today’s infographic uses data from the World Travel & Tourism Council, and it highlights the countries that depend the most on the travel and tourism industry according to employment—quantifying the scale that the industry contributes to the health of the global economy.

Ground Control

Worldwide, 44 countries rely on the travel and tourism industry for more than 15% of their total share of employment. Unsurprisingly, many of the countries suffering the most economic damage are island nations.

At the same time, data reveals the extent to which certain larger nations rely on tourism. In New Zealand, for example, 479,000 jobs are generated by the travel and tourism industry, while in Cambodia tourism contributes to 2.4 million jobs.

RankCountryT&T Share of Jobs (2019)T&T Jobs (2019)Population
1Antigua & Barbuda91%33,80097,900
2Aruba84%35,000106,800
3St. Lucia78%62,900183,600
4US Virgin Islands69%28,800104,400
5Macau66%253,700649,300
6Maldives60%155,600540,500
7St. Kitts & Nevis59%14,10053,200
8British Virgin Islands54%5,50030,200
9Bahamas52%103,900393,200
10Anguilla51%3,80015,000
11St. Vincent & the Grenadines45%19,900110,900
12Seychelles44%20,60098,300
13Grenada43%24,300112,500
14Former Netherlands Antilles41%25,70026,200
15Belize39%64,800397,600
16Cape Verde39%98,300556,000
17Dominica39%13,60072,000
18Vanuatu36%29,000307,100
19Barbados33%44,900287,400
20Cayman Islands33%12,30065,700
21Jamaica33%406,1002,961,000
22Montenegro33%66,900628,100
23Georgia28%488,2003,989,000
24Cambodia26%2,371,10016,719,000
25Fiji26%90,700896,400
26Croatia25%383,4004,105,000
27Philippines24%10,237,700109,600,000
28Sao Tome and Principe23%14,500219,200
29Bermuda23%7,80062,300
30Albania22%254,3002,880,000
31Iceland22%44,100341,200
32Greece22%846,20010,420,000
33Thailand21%8,054,60069,800,000
34Malta21%52,800441,500
35New Zealand20%479,4004,822,000
36Lebanon19%434,2006,825,000
37Mauritius19%104,2001,272,000
38Portugal19%902,40010,197,000
39Kiribati18%6,600119,000
40Gambia18%129,6002,417,000
41Jordan18%254,70010,200,000
42Dominican Republic17%810,80010,848,000
43Uruguay16%262,5003,474,000
44Namibia15%114,6002,541,000

Croatia, another tourist hotspot, is hoping to reopen in time for peak season—the country generated tourism revenues of $13B in 2019. With a population of over 4 million, travel and tourism contributes to 25% of its workforce.

How the 20 Largest Economies Stack Up

Tourist-centric countries remain the hardest hit from global travel bans, but the world’s biggest economies are also feeling the impact.

In Spain, tourism ranks as the third highest contributor to its economy. If lockdowns remain in place until September, it is projected to lose $68 billion (€62 billion) in revenues.

RankCountryTravel and Tourism, Contribution to GDP
1Mexico15.5%
2Spain14.3%
3Italy13.0%
4Turkey11.3%
5China11.3%
6Australia10.8%
7Saudi Arabia9.5%
8Germany9.1%
9United Kingdom9.0%
10U.S.8.6%
11France8.5%
12Brazil7.7%
13Switzerland7.6%
14Japan7.0%
15India6.8%
16Canada6.3%
17Netherlands5.7%
18Indonesia5.7%
19Russia5.0%
20South Korea2.8%

On the other hand, South Korea is impacted the least: just 2.8% of its GDP is reliant on tourism.

Travel, Interrupted

Which countries earn the most from the travel and tourism industry in absolute dollar terms?

Topping the list was the U.S., with tourism contributing over $1.8 trillion to its economy, or 8.6% of its GDP in 2019. The U.S. remains a global epicenter for COVID-19 cases, and details remain unconfirmed if the country will reopen to visitors before summer.

Travel and tourism contribution to GDP in absolute terms

Meanwhile, the contribution of travel and tourism to China’s economy has more than doubled over the last decade, approaching $1.6 trillion. To help bolster economic activity, China and South Korea have eased restrictions by establishing a travel corridor.

As countries slowly reopen, other travel bubbles are beginning to make headway. For example, Estonia, Latvia, and Lithuania have eased travel restrictions by creating an established travel zone. Australia and New Zealand have a similar arrangement on the horizon. These travel bubbles allow citizens from each country to travel within a given zone.

Of course, COVID-19 will have a lasting impact on employment and global economic activity with inconceivable outcomes. When the dust finally settles, could global tourism face a reckoning?

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