These colleges produce the most ultra-rich graduates.
Although earning a bachelor's degree typically brings the benefit of a higher salary, some schools tend to be better at breeding billionaires than others. In order to highlight which universities produce the wealthiest graduates, Wealth-X recently released its global list of universities ranked by the number of alumni considered ultra-high net worth individuals (UHNWIs), or those worth at least $30 million.
Although the list included postsecondary institutions from around the world, 85% of the top 20 are located in the U.S. In fact, only three out of the top 20 schools are non-U.S. institutions.
When it comes to producing the most UHNWIs, these U.S. universities beat out all others:
1. Harvard University
Taking the number-one spot, Massachusetts' prestigious Harvard University has graduated 2,964 UHNWIs (including 52 billionaires) who are worth a total of $622 billion. While about 14% of these individuals inherited their wealth, 74% are self-made millionaires and billionaires. David Friedman, president of Wealth-X, told NBC that this highlights Harvard's true strength of possessing an impressive alumni network.
"It shows the power of networks," Friedman said. "Harvard has this entrenched, powerful network that extends across so many sectors and is incredibly proactive about connecting its alumni. You get a great education, but you also get access."
2. University of Pennsylvania
A total of 1,502 UHNWIs have graduated from the University of Pennsylvania, with these wealthy alumni worth a combined $242 billion. About 20% of these college graduates inherited their vast fortunes, while 69% are self-made.
3. Stanford University
California's Stanford University has handed diplomas to 1,174 UHNWIs, who are worth a total of $171 billion. Approximately 15% of these students inherited their wealth, while 71% are self-made millionaires and billionaires.
4. Columbia University
A total of 889 UHNWIs have graduated from New York's prestigious Columbia University. While 19% of these individuals inherited their money, 71% made their own fortunes.
5. New York University
Rounding out the top five, New York University has graduated 828 UHNWIs, who are worth a combined $110 billion. Like those individuals who graduated from Harvard, a vast majority - or 74% - are self-made, while only 11% inherited their fortunes.