The source actually carves out the percentages of each of the top 20 US schools based on 3 categories: self-made, inheritance + self-made, and inheritance. Other than the two outliers of USC and Boston University, the UHNWIs at the top 20 schools are 70%+ self-made, which is respectable. It's a few pages down: https://www.wealthx.com/wp-content/uploads/2019/08/University-Ultra-High-Net-Worth-Alumni-Rankings-2019.pdf |
The counterpoint of that is, well, if you want your child to be mingling with the children of rich people. Depending on your mindset, could be a pro. |
Plenty of very wealthy international students of color at the top schools. And of course, many wealthy students of Asian and South Asian heritages. Then we do have the Obama girls. But I guess they don't count as different races. |
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Harvard has bigger and more professional schools than Yale, as well as one of the most famous business schools in the world. I daresay a pretty high percentage of the rich Harvard alums are really from HBS.
Ditto for Penn and Wharton. |
+1. I also wonder what qualifies as self-made. Parental help via college expenses, 529s for grandkids, down payment assistance, etc is not self-made. |
| Ah, the "born on third" ranking. |
Uh BS it's not. Having college and a house down payment paid, then doing so well in business you have $30mm+ is still self-made. You didn't just make that managing family money. You did something exceptional. |
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It’s easier to be “self made” UHNWI when you’re already coming from a HNWI household. That would be the real analysis I want to see.
With accommodative monetary policies of the last 20 years, it’s not really that hard to grow HNW family wealth into UHNW levels. Capital markets have been great for established family companies. Look at Evan Spiegel - leveraged his dad’s connections as a tech lawyer to grow Snap. Zuckerberg came from a HNW family and went to Phillips Andover. Bill Gates came from a prominent PNW banking family. Show me how many middle class kids who went to these universities end up in the HNW category. That’s what will impress me. |
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The most important aspect of this kind of "study" is the data source. On page 15, the document said the data source is from the company own database, which looks like a circular reference.
How good is the data source? Is it extensive or just has its own bias? |
LOL |
1 (1) Harvard University 2 (2) Stanford University 3 (3) University of Pennsylvania 4 (4) Columbia University 5 (5) New York University 6 (6) Massachusetts Institute of Technology (MIT) 7 (8) Northwestern University 8 (9) University of Southern California 9 (10) University of Chicago 10 (11) Yale University 11 (12) University of California, Berkeley 12 (14) Cornell University 13 (15) The University of Texas at Austin 14 (16) Princeton University 15 (17) University of Notre Dame 16 (18) University of Michigan 17 (20) University of California, Los Angeles (UCLA) 18 (22) University of Virginia 19 (23) Boston University 20 (24) University of Miami Where's Duke? Where's Emory? Where's Vanderbilt? |
From most Self-Made to Least Self-Made (page 8 of the doc): University of Chicago University of Virginia Harvard University University of California, Los Angeles (UCLA) Massachusetts Institute of Technology (MIT) Princeton University Stanford University University of Michigan The University of Texas at Austin Yale University University of California, Berkeley University of Notre Dame University of Pennsylvania Cornell University New York University Columbia University Northwestern University University of Miami University of Southern California Boston University |
| I'd be interested to see how SLACs would fare, if you looked only at undergraduate programs. |
OP, WTH do you think these moms “pursue” these schools?? |
+1 School donation, anyone? |