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February 23, 2023 at 02:09 PM
Related: 11 Colleges That Mint Future Billionaires
Wealthy and ultra-wealthy families are keen to safeguard the next generation’s prospects, and that starts with ensuring that their children have access to a top-notch education. For both U.S.-born and international members of the upper echelons, American universities are the go-to choice, offering a buffer against the effects of country-specific risks and global volatility.
In fact, a mere handful of Ivy League and non-Ivy universities were responsible for educating 35% of centi-millionaires living in the U.S. as of December, according to Henley & Partners’ 2023 USA Wealth Report, an overview of the American private wealth sector. In addition, nearly a quarter of the country’s billion-dollar companies include a founder who came to the country as an international student.
The USA Wealth Report, produced in partnership with wealth intelligence firm New World Wealth, considers “wealth” as all of an individual’s net investable assets, including property, cash and listed company holdings, less any liabilities. New World Wealth tracks the movements and spending habits of more than 150,000 high-net-worth individuals in its in-house database, with a special focus on those with upward of $10 million in investable assets.
Of the country’s 9,630 centi-millionaires — those whose wealth exceeds $100 million — 28% work in financial and professional services and 14% work in the technology sector, so it’s no surprise to see ‘non-Ivies’ Stanford and MIT among the eight institutions claiming responsibility for more than a third of this population.
Not everyone who attends one of these prestigious institutions will go on to experience untold success and corresponding wealth, but their degree is likely to translate to a comfortable living nonetheless. To highlight what more typical graduates can expect, we looked at the median midcareer salaries of those who earned bachelor’s degrees from these institutions, according to Payscale. All were in the six figures.
See the gallery for the top American universities responsible for minting centi-millionaires, according to the USA Wealth Report.
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