Semi-OT: M among 10 U.S. colleges that have produced most billionaires
Sorry if already posted and I missed it. Michigan is 10th on this list of U.S. colleges that have produced the most billionaires. Pretty good company.
- Harvard
- Stanford
- Penn
- Columbia
- MIT
- Cornell
- Yale
- Chicago (t-8th)
- USC (t-8th)
- Michigan
Something I heard Dave Ramsey say popped into my head, "He who dies with the most stuff is dead".
Any guy who advocates that people should pay off their lowest balance debt first rather than their highest interest debt is not a financial expert. There's probably some poor guy out there trying to pay off a $10,000 student loan first with a 5% interest rate while letting his $20,000 credit card debt with a 20% interest rate snowball out of control.
[edit] sorry for the double post. and it was meant to be a reply below on comments about school tuition.
most of the private schools listed up there also are cheaper for mid to low income families in terms of tuition.
friend of mine had sent his son to stanford and everyone used to ask him how he was able to afford it. he said it was cheaper than if he had sent him to Wisconsin (in state) due to tuition being paid based on income.
his opinion based on his research looking into his son's and now college bound daughter's school tuition is that private schools with large endowments tend to offer more financial aid and end up being cheaper than most in-state tuitions.
he moved to Mass. recently and said her daughter's in state tuition at any of the UMass campuses would be more expensive than most of the private schools in Mass.
This completely. My wife has her MBA from Harvard and was sponsored by a former alum. That former alum covered half of her tuition and paid for her school trips abroad. Her two year education cost her less than a Ross MBA.
Were some of her classmates from generations of wealth? Yes. But a lot were also from normal, middle class families and had a great work ethic.
This list reminds me of the lists of which collge football teams produce the most first round draft picks. The publisher of the list is trying to make a statement about which schools are "doing the best" at develping their students/players, but the reality is it's more a list of which schools are best at attracting the most talent in the first place.
Well no kidding that Princeton, Harvard, Yale, and all the other Ivies are the best at producing the most billionaires. Considering they attract the best talent in the world to begin with, and stockpiled with countless legacy students from families with a lot of "old money," it shouldn't be at all surprising to watch them churn out the most billionaires.
You're not going to see Auburn or Arizona State churn out a bunch of billionaires because the best and brightest don't go to those schools. They go to Harvard, Princeton or Yale. Someone a few posts up made a really good point as well that SEC schools try to make a similar comparison with sending kids to the pros. The SEC easily sends the most kids to the NFL every year. It's not solely because they're so well-developed and coached when they get there. It's because the best players in the country want to go to the best conference. They're already really good when they get there. Just like every kid who sets foot on Harvard's campus is already "gifted," a genius, a future world leader, etc. Harvard certainly makes them better than they were before they got there, but the potential was always there.
This argument seems to reinforce, not detract, from UM's inclusion in the top 10. UM is the only state school in this list. It should have the lowest family income of the bunch, yet still produces a lot of billionaires.*
*A statistical procedure* could in theory correct for the effects on family income on a student's subsequent financial success. The ideal procedure would be a within-subject analysis. Also, to have enough relevant data points, it would probably need to include sub-billionaires---or, better yet, include everyone. The result could help assess just how much each school's degree--whether via education. "halo" effects, social networking, or other factors--impacts a graduate's income.
...is that they have about a billion dollars more than I do.
Was there also a list of colleges whose graduates profited off the Great Recession because they knew how to manipulate public markets in their favor?
I bet there would be a nice, strong correlation. And that's horrifying.
But, I still upvoted you. Your prior, extended post was a factor.
not at all political - bankers knew the system; they exploited it.
It should be illegal to be a billionaire.
Put simply, if true, what did I do wrong?
to a league comprised of these 10 schools?
I like our chances. Second place at worst in football, win basketball every year.
Bottom-dweller in quidditch, though.
That place where all our offensive linemen go.
Who are the Michigan billionaires? I know Larry Page and Stephen Ross. Who else?