For the wealthy, an Ivy League education is worthwhile.
The ultra-wealthy invest in name-brand degrees as well as name-brand cars and clothing. According to a new report by Henley & Partners, a firm that helps the wealthy obtain residence and citizenship, there are now 9,630 centi-millionaires (those with $100 million or more) living in the United States. More than a third graduated from just eight universities, a mix of Ivy League and highly selective institutions. Perhaps this explains why Hermès, a high-end luxury retail store, is set to open near Princeton University's campus this year. According to Henley & Partners, who uses data from New Wealth World, an organization that tracks the migration trends and spending habits of the world's wealthiest people, wealthy individuals around the world have worked for decades to send their children to leading American universities, as they see access to a top-tier education as a way to maximize their children's prospects for building greater inter-generational wealth. According to the report, international students make up a sizable portion of college enrollments in the United States. These graduates frequently stay in the United States to launch their careers and go on to lead multibillion-dollar corporations. According to a report by the National Foundation for American Policy, a nonprofit think tank, approximately 25% of billion-dollar startups in the United States have a founder who first came to the country as an international student. According to Henley & Partners, the majority of centi-millionaires work in financial and professional services, followed by technology. The following are the schools and the percentage of centi-millionaires who graduated from each:
Harvard University - 7%
Messachusetts Institution of Technology - 5%
Stanford University - 5%
University of Pennsylvania - 4%
Columbia University - 4%
Yale University - 4%
Cornell University - 3%
Princeton University - 3%
Other - 65%
By Covenantblog
