Connect with us

Chart of the Week

Which College Produces the Most Billionaires?

Published

on

Which College Produces the Most Billionaires?

billionaire degrees

Which College Produces the Most Billionaires?

The Chart of the Week is a weekly Visual Capitalist feature on Fridays.

America’s wealthiest have made their fortunes in a wide variety of ways, but there is one thing many of these tycoons have in common: 80% of billionaires picked up a Bachelor’s degree at some point in their lives.

Today’s chart visualizes data from Adview to show the educational paths and early working years of billionaires on the elite Forbes 400 list, a ranking of the 400 wealthiest people in the United States.

In a League of Its Own

Unsurprisingly, many U.S. billionaires got their start at Ivy League schools. Seven out of the top 10 billionaire-producing universities bear that prestigious designation.

Here’s the full count of billionaire graduates from the top 10 universities:

UniversityNumber of BillionairesIvy League?
University of Pennsylvania19Yes
Yale University13Yes
Stanford University12No
University of Southern California11No
Harvard University10Yes
Cornell University8Yes
Columbia University7Yes
Dartmouth College7Yes
Princeton University6Yes
University of Michigan6No

Billionaire graduates aren’t just limited to Ivy League institutions, however. California’s Stanford and USC also rank highly, having graduated 23 billionaires between them.

What Are the Most Popular Degrees?

Degrees in the fields of economics, finance, and business are obvious springboards into the Forbes 400 list, but it’s interesting to see that many went the arts and social sciences route. Politics, history, English, psychology, and philosophy are also among the ten most popular fields studied.

It’s worth noting that degree classification can vary depending on the university and course in question. For example, a degree in mathematics could be considered a Bachelor of Sciences, or, Bachelor of Arts. Similarly, a Bachelor of Economics, or, a Bachelor of Social Sciences could be awarded to somebody who studied the subject of economics.

The Power of UPenn

While Harvard and Yale are highly coveted educational institutions, it’s the University of Pennsylvania that provides the most fertile breeding ground for billionaires. Here are some notable – and notorious – alumni, including those who attended its prestigious Wharton School:

BillionaireForbes 400 RankingNet Worth
Warren Buffett*#3$88.3 billion
Lauren Powell Jobs#20$20.5 billion
Elon Musk#24$19.6 billion
Steve Cohen#36$13.0 billion
Michael Milken#207$3.7 billion
Donald Trump*#259$3.1 billion
Steve Wynn#271 $3.0 billion

*In their sophomore years, Warren Buffett transferred out to the University of Nebraska, while Donald Trump transferred in from Fordham University.

What are the Most Common First Jobs?

Many billionaires started out as self-employed, or followed in their family’s footsteps:

  • 11% of billionaires started at their own company
  • 19% of them started at their family company

However, these individuals were excluded from Adview’s analysis. Out of the remaining 330 billionaires, salesperson tops the list of first jobs, narrowly edging out the military category.

While there are many possible paths to financial success in the U.S., only a minority of Americans are likely to reach billionaire status in their lifetimes. That said, studying economics at Wharton certainly wouldn’t hurt their chances.

Subscribe to Visual Capitalist

Thank you!
Given email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.

Continue Reading
Comments

Chart of the Week

The Best and Worst Performing Wealth Markets in the Last 10 Years

This telling chart shows how national wealth markets have changed over the past decade, highlighting the biggest winners and losers.

Published

on

The Best and Worst Performing Wealth Markets

A lot can change in a decade.

Ten years ago, the collapse of Lehman Brothers sent the world’s financial markets into a tailspin, a catalyst for years of economic uncertainty.

At the same time, China’s robust GDP growth was reaching a fever pitch. The country was turning into a wealth creation machine, creating millions of newly-minted millionaires who would end up having a huge impact on wealth markets around the world.

The Ups and Downs of Wealth Markets (2008-2018)

Today’s graphic, using data from the Global Wealth Migration Review, looks at national wealth markets, and how they’ve changed since 2008.

Each wealth market is calculated from the sum of individual assets within the jurisdiction, accounting for the value of cash, property, equity, and business interests owned by people in the country. Just like other kinds of markets, wealth can grow or shrink over time.

Here are a few countries and regions that stand out in the report:

Developing Asian Economies
In terms of sheer wealth growth, nothing comes close to countries like China and India. The size of these markets, combined with rapid economic growth, have resulted in triple-digit gains over the last 10 years.

For the world’s two most populous countries, it’s a trend that is expected to continue into the next decade, despite the fact that many millionaire residents are migrating to different jurisdictions.

Mediterranean Malaise
European nations saw very little growth over the past decade, but the Mediterranean region was particularly hard-hit. In fact, eight of the 20 worst performing wealth markets over the last decade are located along the Mediterranean coast:

Rank (Out of 90)Country% Growth (2008-2018)
89🇬🇷 Greece-37%
87🇨🇾 Cyprus-21%
86🇮🇹 Italy-14%
85🇪🇸 Spain-13%
84🇹🇷 Turkey-11%
82🇪🇬 Egypt-10%
80🇫🇷 France-7%
76🇭🇷 Croatia-6%

European Bright Spots
There were some bright spots in Europe during this same time period. Malta, Ireland, and Monaco all achieved positive wealth growth at rates higher than 30% over the last 10 years.

Australia
While it’s expected to see rapidly-growing economies as prolific producers of wealth, it is much more surprising when mature markets perform so strongly. Singapore and New Zealand fall under that category, as does Australia, which was already a large, mature wealth market.

Australia recently surpassed both Canada and France to become the seventh largest wealth market in the world, and last year alone, over 12,000 millionaires migrated there.

Venezuela
The long-term economic slide of Venezuela has been well documented, and it comes as no surprise that the country saw extreme contraction of wealth over the last decade. Since war-torn countries are not included in the report, Venezuela ranked 90th, which is dead-last on a global basis.

Short Term, Long Term

In 2018, global wealth actually slumped by 5%, dropping from $215 trillion to $204 trillion.

All 90 countries tracked by the report experienced negative growth in wealth, as global stock and property markets dipped. Here’s a look at the wealth markets that were the hardest hit over the past year:

Wealth MarketWealth growth (2017 -2018)
🇻🇪 Venezuela-25%
🇹🇷 Turkey-23%
🇦🇷 Argentina-20%
🇵🇰 Pakistan-15%
🇦🇴 Angola-15%
🇺🇦 Ukraine-13%
🇫🇷 France-12%
🇷🇺 Russia-12%
🇮🇷 Iran-12%
🇶🇦 Qatar-12%

The future outlook is rosier. Global wealth is expected to rise by 43% over the next decade, reaching $291 trillion by 2028. If current trends play out as expected, Vietnam could likely top this list a decade from now with a staggering 200% growth rate.

Subscribe to Visual Capitalist

Thank you!
Given email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.

Continue Reading

Chart of the Week

Mapping the World’s Busiest Air Routes

Flying can get you almost anywhere, but often people are journeying between two popular destinations. Here we map the busiest air routes globally.

Published

on

Mapping the World’s Busiest Air Routes

Modern air travel gives us almost unlimited possibilities for getting around.

Whether you are acting on your wanderlust to explore new and exotic destinations, hopping to a familiar island for a well-deserved vacation, or jetsetting to London in the comfort of business class, the modern airline industry can get you almost anywhere you need to go.

But while flying allows us to have unique experiences, it’s often the case that we are all coming and going from many of the same popular destinations. As a result, the world’s busiest air routes have hundreds of flights per day connecting important city pairs together.

Ranking City Pairs

Today’s chart pulls data from OAG, which has compiled a detailed report ranking the busiest domestic and international air routes from around the globe.

It’s worth noting that the data is over the period of March 2018 to February 2019, and it excludes carriers that operate fewer than 500 routes per year.

Let’s dive in to see which city pairs have the most air travel between them.

Domestic Routes

Domestic routes are far more popular than international routes globally. According to the report, there are 15 domestic routes that have more operating flights per year than any international route anywhere.

Here’s a look at the top 10 domestic routes:

RankCountryCity PairFlights (Annually)Carriers
#1🇰🇷Jeju ↔️ Seoul79,4607
#2🇦🇺Melbourne ↔️ Sydney54,1024
#3🇮🇳Mumbai ↔️ Delhi45,1886
#4🇧🇷São Paulo ↔️ Rio de Janeiro39,7473
#5🇯🇵Fukuoka ↔️ Toyko39,4064
#6🇻🇳Hanoi ↔️ Ho Chi Minh City39,2913
#7🇯🇵Hokkaido ↔️ Tokyo39,2714
#8🇮🇩Jakarta ↔️ Surabaya City37,7626
#9🇺🇸Los Angeles ↔️ San Francisco35,3655
#10🇸🇦Jeddah ↔️ Riyadh35,1495

The busiest domestic route might be a surprise, unless you are familiar with Asian geography.

With almost 80,000 annual flights, the 300-mile hop between Seoul and Jeju Island in South Korea is the busiest air route in the world by a large margin. Overall, there are seven carriers competing on it each day, with over 200 daily flights available between them.

What makes Jeju so popular?

Known as the “Hawaii of South Korea”, this volcanic island is an extremely popular vacation destination within the country, and it hosts roughly 15 million guests per year.

International Routes

On an international basis, the busiest route has almost 50,000 fewer flights per year than the Jeju-Seoul city pair listed above. Not surprisingly, this route – and many other top international routes – are also located in the Asia Pacific region.

RankCountriesCity PairFlights (Annually)Carriers
#1🇲🇾🇸🇬Kuala Lumpur ↔️ Singapore30,1878
#2🇭🇰🇹🇼Hong Kong ↔️ Taipei28,4475
#3🇮🇩🇸🇬Jakarta ↔️ Singapore27,0467
#4🇭🇰🇨🇳Hong Kong ↔️ Shanghai20,6785
#5🇮🇩🇲🇾Jakarta ↔️ Kuala Lumpur19,7418
#6🇰🇷🇯🇵Seoul ↔️ Osaka19,7118
#7🇺🇸🇨🇦New York (LGA) ↔️ Toronto17,0383
#8🇭🇰🇰🇷Hong Kong ↔️ Seoul15,7709
#9🇹🇭🇸🇬Bangkok ↔️ Singapore14,6985
#10🇦🇪🇰🇼Dubai ↔️ Kuwait14,5814

The short hop between Singapore and Kuala Lumpur takes only one hour, and it connects two major Southeast Asian commercial hubs. The route has 41 flights per day between eight airlines, making it one of the most competitive routes globally.

The busiest international route outside of the Asia Pacific is between Toronto and New York (LaGuardia) with 17,038 annual flights. Interestingly, it only has three competing carriers – the lowest of any of the top 10 routes.

Subscribe to Visual Capitalist

Thank you!
Given email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.

Continue Reading
The Green Organic Dutchman Company Spotlight

Subscribe

Join the 100,000+ subscribers who receive our daily email

Thank you!
Given email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.

Popular