MU among top 20 global varsities with super rich alumni

OUTSIDE of the Ivy League institutes and Oxford,Mumbai University finds itself as the only Asian university in a global list of top 20 with super rich,billionaire alumni.

Written by Mihika Basu | Published: May 14, 2013 3:53:22 am

OUTSIDE of the Ivy League institutes and Oxford,Mumbai University finds itself as the only Asian university in a global list of top 20 with super rich,billionaire alumni. A study by research firm Wealth-X on ultra high net worth individuals (UNHWIs) has revealed that 372 former students of Mumbai University have a total net worth of $37 billion.

Harvard University,which has 2,964 former students with a total net worth of $622 billion,tops the list. Mumbai University ranks 18 in this exclusive global universities alumni league table,pipping University of Cambridge (ranked 19) and Brown University (20).

“Harvard University has an annual budget of Rs 18,000 crore,whereas Mumbai University has an annual budget of Rs 300 crore. Despite this huge disparity,we are the only Indian university in the list and we are proud of the achievements of our alumni,” said Mumbai University vice-chancellor Rajan Welukar. Besides Harvard,the top five positions are occupied by University of Pennsylvania,Stanford University,Columbia University and New York University.

According to Wealth-X,UHNWIs are individuals with a net worth of at least US $30 million after accounting for shares in public and private companies,residential and investment properties,art collections,aircraft,cash and other assets. Of the top 20,only six are public funded universities. Only three — Mumbai University,Oxford University and University of Cambridge — outside the US have made it to the list. “Oxford University is the only university outside the US that has scored higher than us,” Welukar said.

The study has also looked at gender representation among the top 20. In this,Mumbai University with 11 per cent women ranks fifth,while Northwestern University (US) with 15 per cent women has the highest percentage of ultra-high net worth women alumni and is ranked first.

“They have also tabled a list of ultra high net worth individuals from universities other than the US. In this list of 20,Mumbai University is ranked second and Oxford University is at the top. While Cambridge University is ranked third,Delhi University occupies the sixth position,” said Welukar.

Mumbai University,which has received Rs 70 crore in the last two years from industry/alumni,has decided to tap into this source for funds. A team from Wealth-X is also going to visit the university in the first half of June to discuss their findings.

Extra winnings

Rank University Ultra high net worth Total net worth Country Funding

alumni population (US$ billion)

1 Harvard University 2,964 622 US Private

2 University of Pennsylvania 1,502 242 US Private

3 Stanford University 1,174 71 US Private

4 Columbia University 889 116 US Private

5 New York University 828 110 US Private

6 University of Chicago 658 144 US Private

7 Massachusetts Institute 581 172 US Private

of Technology

8 Yale University 568 125 US Private

9 Cornell University 528 60 US Private

10 Princeton University 508 70 US Private

11 University of Virginia 499 31 US Public

12 Boston University 491 38 US Private

13 Northwestern University 451 46 US Private

14 University of California,Berkeley 447 72 US Public

15 University of Michigan 410 70 US Public

16 Oxford University 401 51 UK Public

17 University of Southern California 374 66 US Private

18 University of Mumbai 372 37 India Public

19 University of Cambridge 361 93 UK Public

20 Brown University 349 23 US Private

Total 14,355 2,359

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