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reposted from Source link Forbes
Where The Forbes 400 Went To College: The Top 10 Schools
Colleges and universities are routinely ranked on a number of factors: student satisfaction, the quantity of research produced, the faculty and alumni giving rates. To this, Forbes adds the rarefied club of graduates who are members of The Forbes 400. It does not include college dropouts like Bill Gates or Mark Zuckerberg, who both attended Harvard but never finished. The 79% of Forbes 400 members who are college graduates went to a total of 155 schools.
So which schools produce the most Forbes 400 members Altogether, 24% of the college graduates went to Ivy League schools. However, if you count only Ivy League grads who are designated by Forbes as self-made, having earned their fortunes rather than inheriting them, the percentage drops to 14%. Still, nearly one in five Forbes 400 members went to one of those top eight schools, so if you can get into one of them, it could improve your odds.
Perhaps the more surprising conclusion, though, is that where someone goes to college doesn’t matter quite as much as one might think. Just over a fifth of Forbes 400 members never graduated from college. Another 243 went to schools that were not Ivies. That includes a variety of institutions big and small, all over the country and the world. There are Forbes 400 members who graduated from small liberal arts schools like Claremont McKenna College, Hobart William and Smith Colleges, and Bard College, and there are those who attended large state schools like the University of Oklahoma, the University of Arkansas and Ohio State University.
University of Pennsylvania: 19 Graduates
The University of Pennsylvania tops the list thanks largely to its renowned business school, Wharton. The cofounder of Tesla and SpaceX, Elon Musk, for one, has said that his interest in space and electronic vehicles started when he was a student at Wharton. Jonathan Gray majored in business and English at Penn, where he met his wife, Mindy, in a romantic poetry class. After graduating Phi Beta Kappa, he started as an asset manager at Blackstone Group and later ascended to the head of the firm’s real estate group. He is now COO and president and is considered a potential successor to cofounder and CEO Stephen Schwarzman. President Donald Trump, who transferred there from Fordham University in the Bronx, Emerson Collective founder Laurene Powell Jobs and investors Howard Marks and Ronald Perelman also got their undergraduate degrees from Penn.
Stanford University: 14 Graduates
Evan Spiegel and Bobby Murphy were fraternity brothers at Stanford University, where they started Snap, which owns the social media giant Snapchat, in 2011. At 29, Spiegel is the youngest person on this year’s Forbes 400 and the only person in his 20s. He dropped out of Stanford in 2012 but returned and graduated six years later. Three other Silicon Valley tech founders got their start at Stanford: PayPal cofounder and venture capitalist Peter Thiel, WhatsApp cofounder Brian Acton and Yahoo cofounder Jerry Yang. Doris Fisher graduated from Stanford with an economics degree in 1953 and started Gap with her husband almost two decades later after they had difficulty finding jeans that fit him.
Yale University: 14 Graduates
As an undergraduate at Yale, Fred Smith wrote a paper about the need for reliable overnight delivery, and he remembers getting a C. Although he might not have earned a top grade, he later founded the multibillion-dollar company FedEx. Stephen Schwarzman, the cofounder and CEO of the private equity firm Blackstone, also holds a bachelor’s degree from Yale. In 2015, he gave $150 million to the university to build the Schwarzman Center, the new student center that is set to open in 2020. They are two of just four self-made billionaires from Yale on the 400. Of the 14 Yalies on the list, 10 are heirs, the highest concentration at any school.
Harvard University: 10 Graduates
Before becoming colleagues at Microsoft, Steve Ballmer lived down the hall from Bill Gates at Harvard University. Gates started Microsoft in 1975, while a student at Harvard, but left during his junior year to focus on the company. Ballmer graduated from Harvard in 1977 and joined Microsoft in 1980 as the 30th employee. He became the CEO of Microsoft in 2000 and led the company until 2014. Ken Griffin founded the hedge fund firm Citadel in 1990 but had started trading from his Harvard dorm room in 1987. He put a satellite dish on the roof to get real-time stock quotes. The practice served him well: Today Citadel manages $32 billion in assets.
University of Southern California: 10 Graduates
Star Wars creator George Lucas studied cinematic arts at the University of Southern California. In 2016, Lucas gave $10 million to the university’s School of Cinematic Arts to fund scholarships for students from underrepresented communities who qualify for financial support. He donated another $10 million in 2017. Marc Benioff, the founder and co-CEO of the cloud computing software firm Salesforce, graduated from USC in 1986 with a bachelor’s in business administration. Benioff has been on the board since 2010 and serves alongside fellow Forbes 400 members, real estate developer and USC alum Rick Caruso and director Steven Spielberg. (Spielberg did not attend the University of Southern California; he went to California State University, Long Beach but dropped out to make his first film. He later returned and got his degree.)
Dartmouth College: 8 Graduates
Stephen Mandel Jr. founded the hedge fund Lone Pine Capital in 1997, naming it after a pine tree on Dartmouth College’s campus that, legend has it, survived a lightning strike in 1887. He was the third generation of his family to go to Dartmouth for undergrad: his grandfather, father and brother all attended, as did his children. Although he didn’t name his company for his alma mater, Leon Black, the cofounder and CEO of the private equity company Apollo Global Management, also holds a Dartmouth degree. Black and his wife, Debra, are longtime art patrons and collector and donated $48 million in 2012 to build what is now the Black Family Visual Arts Center.
Columbia University: 7 Graduates
The soccer stadium at Columbia University is named after Mediacom founder Rocco Commisso, who attended Columbia on a full scholarship and played on the soccer team. He was a member of the 1967 Columbia freshman men’s team that finished undefeated and was co-captain of the 1970 varsity men’s team. The football stadium at Columbia is also named for a member of The Forbes 400: Robert Kraft, the owner of the NFL’s New England Patriots, studied history and economics at Columbia and played on the football team his freshman year. The stadium was renamed after he pledged $5 million to the athletics program in 2007.
Princeton University: 7 Graduates
Princeton students are familiar with Meg Whitman, after whom the residence hall Whitman College is named. Whitman was the CEO of eBay from 1998 to 2008, and during that time she gave her alma mater $30 million to build the college. Amazon’s Jeff Bezos studied electrical engineering and computer science as an undergrad at Princeton and graduated summa cum laude and Phi Beta Kappa. Although they met at work, not on campus, his former wife and newcomer to the Forbes 400, MacKenzie Bezos, also graduated from Princeton summa cum laude. She majored in English, and the Nobel Prize-winning novelist Toni Morrison was her thesis advisor.
Cornell University: 6 Graduates
H. Fisk Johnson, the great-great grandson of the founder of Johnson & Johnson and the company’s current CEO, has five degrees from Cornell. Fisk has a bachelor’s in chemistry and physics, a master’s in engineering and one in physics, an M.B.A., and a Ph.D. in physics. He and his siblings, all Cornell grads, and SC Johnson committed $150 million to endow the business school in 2017 and it was renamed Cornell SC Johnson College of Business. The siblings are the third generation to go to Cornell and multiple buildings on campus bear the family name. David Duffield, the cofounder and chairman of the human resources and finance software company Workday has also given large gifts to his alma mater. He has a bachelor’s degree in electrical engineering from Cornell University as well as an M.B.A. In 1997, he gave $20 million to Cornell University to help build Duffield Hall, the school’s building for nanoscale science and engineering.
Duke University: 5 Graduates
David Rubenstein, the founder of the private equity firm Carlyle Group, graduated magna cum laude from Duke in 1970. He gave $13.6 million to the Duke University Libraries in 2011. The David M. Rubenstein Rare Book and Manuscript Library at Duke holds more than 350,000 rare books and 10,000 manuscripts. William Wrigley Jr., an heir to the Wrigley’s chewing gum fortune, also got his undergraduate degree at Duke as did Marijke Mars, the great-grandaughter of the founder of Mars.
New York University: 5 Graduates
The Leonard N. Stern School of Business at New York University is named for the CEO of Hartz Mountain, one of America’s largest private owners of commercial real estate. Stern went to New York University for undergrad and then worked for his father’s pet-supply business. He pivoted the company to real estate after he earned his M.B.A. from the business school, which was renamed after his $30 million donation in 1988. William R. Berkley, the founder of the insurance firm W.R. Berkley, is chair of the New York University Board of Trustees. In 2013, he donated $10 million to create the William R. Berkley Scholarship Program at Stern.