If you’re looking for top-notch education and the opportunity to rub elbows with millionaires, look no further than these colleges. According to MoneyWise, these schools have the highest percentage of millionaire alumni.
In the past, many people believed that becoming an educated professional was the only way to become wealthy. But now, more and more millionaires are coming from ordinary backgrounds. Schools such as Stanford and Harvard have seen an increase in graduates who made their fortunes in different industries.
The Colleges With The Most millionaire Alumni 2023
10. Yale University
- Estimated total UHNW alumni: 2,400
- Known UHNW alumni: 358
Although the college was implicated in an admissions scandal in 2019, Yale ranks among the top ten for wealthy grads — Wealth-X estimates they’re worth $777 billion, and 77 percent are considered fully self-made. According to the school’s website, one academic year with tuition, room and board, books, and personal expenses costs more than $81,000.
9. University of Chicago
- Estimated total UHNW alumni: 2,405
- Known UHNW alumni: 326
Around 84 percent of the University of Chicago’s super-rich alumni are self-made, tied for the highest proportion on this list with the University of Virginia. They are estimated to be worth $707 billion. According to the school’s website, an on-campus student pays approximately $82,800 in fees for the 2021/2023 academic year. That is significantly higher than the median household income in Chicago.
8. University of Southern California
- Estimated total UHNW alumni: 2,645
- Known UHNW alumni: 319
USC’s richest alumni are worth an estimated $548 billion, but only 60% are fully self-made — the second-lowest percentage on this list. Remember the college admissions scandal involving Lori Loughlin? The TV actress and her husband, Mossimo Giannulli, have paid $500,000 to have their daughters admitted to USC. A full year at a USC can cost an undergraduate more than $81,000.
7. Northwestern University
- Estimated total UHNW alumni: 2,725
- Known UHNW alumni: 365
This private university in Evanston, Illinois, has UHNW grads worth an estimated $389 billion, but it lags in terms of self-made people (at 72 percent ). However, approximately 11% are women, the second-highest proportion on this list. According to the school’s website, an undergrad will pay approximately $83,800 for one academic year.
6. Massachusetts Institute of Technology
- Estimated total UHNW alumni: 2,785
- Known UHNW alumni: 351
The richest alumni of the Cambridge, Massachusetts-based institution have amassed a total estimated wealth of $990 billion, with 78 percent considered fully self-made. Students at MIT pay around $77,000 per year. The school is best known for its engineering and physical science programs, and it has produced self-made billionaires such as the Koch brothers.
5. New York University
- Estimated total UHNW alumni: 3,380
- Known UHNW alumni: 456
The top five on this list include New York University, which is known for its excellent academic programs and producing a slew of celebrities. Its UHNW alumni are worth an estimated $712 billion, but only 73 percent are self-made, placing it near the bottom of this list for non-inherited wealth. Women make up about 10% of the population. For one academic year, a student living on or off-campus would spend more than $80,000 at the school.
4. Columbia University
- Estimated total UHNW alumni: 3,925
- Known UHNW alumni: 516
This prestigious Ivy League school is New York’s oldest higher-education institution and, thanks to some generous donations, was named America’s richest non-profit in 2018.
The super-rich Columbia University graduates are worth an estimated $1.5 billion, though only 73% are considered fully self-made. According to the school’s website, the annual cost of attendance is more than $82,000, but half of the students receive grants from the school, with the average amount awarded being around $52,000.
3. University of Pennsylvania
- Estimated total UHNW alumni: 5,575
- Known UHNW alumni: 744
The University of Pennsylvania comes in second for producing the most billionaires, with many studying at the Wharton School of Business. Penn’s UHNW alumni are worth an estimated $1,780 billion, but only 5% are female. Three-quarters of them are completely self-made. A year of college costs approximately $61,000.
2. Stanford University
- Estimated total UHNW alumni: 5,580
- Known UHNW alumni: 775
Stanford University, where UHNW alumni are valued at a whopping $2,899 billion. Approximately 78 percent are self-made. The average student incurs approximately $79,000 in expenses. Stanford is also ranked second on Forbes’ list of colleges with the most billionaire alumni.
1. Harvard University
- Estimated total UHNW alumni: 13,650
- Known UHNW alumni: 1,830
To no one’s surprise, Harvard University produces the richest graduates in the country, as well as the most billionaire alumni. Almost 80% of Harvard’s UHNW alumni are self-made, and more than a quarter are of international origin. They’ve amassed a total wealth of $4,769 billion, which puts them far ahead of the other colleges on this list. One academic year at the school can cost between $78,000 and $82,000.