A new report has revealed that Harvard University, Stanford University and the University of Pennsylvania produce the most centi-millionaires in the world.
The 2023 Centi-Millionaire Report by global wealth intelligence firm New World Wealth revealed exclusive statistics on people who hold $100 million in investable assets.
According to the report, these individuals are typically the founders of large multinational companies or the heirs to vast family fortunes.
As of June 2023, there are 28,420 centi-millionaires in the world – double the number 20 years ago and an increase of 12% compared to 2022.
38% of centi–millionaires are from the USA, followed by China and India.
One-third of the world’s centi-millionaires live in 50 key cities across the globe, with New York City in first place with 775. However, over 1,200 centi-millionaires are residents or second-home owners in the city.
New World Wealth’s head of research, Andrew Amoils, said that “in many emerging market countries, there are very few billionaires, making the wealth band largely irrelevant”.
“However, these nations often have large centi-millionaire populations. Kenya, for instance, has no billionaires but 15 centi-millionaires, while South Africa has just 5 billionaires compared to 102 centi-millionaires.”
“The centi-millionaire wealth band is therefore a far more accurate reflection of the ‘super-wealthy’ community in these countries.”
Among the insights gathered about this community, the report identified the top 20 universities that have produced centi-millionaires.
American universities dominate the list, taking 11 of the 20 spots. The UK, France, China and Japan also feature in the rankings.
The top spot goes to Harvard University in the US, which produced 1,088 centi-millionaires. This constitutes 3.8% of the world’s centi-millionaires.
Stanford University in the US is in second place, having produced 629 centi-millionaires, with the University of Pennsylvania in third, having produced 538.
The University of Oxford in the UK is the only non-American university in the top five, having produced 490 centi-millionaires.
Top 20 universities
Below is the ranking of the top 20 universities that have produced centi-millionaires.
|Universities||Centi-millionaires||% of the world’s centi-millionaires|
|Harvard University (USA)||1,088||3.8%|
|Stanford University (USA)||629||2.2%|
|University of Pennsylvania (USA)||538||1.9%|
|University of Oxford (UK)||490||1.7%|
|Massachusetts Institute of Technology (USA)||486||1.7%|
|Yale University (USA)||472||1.7%|
|University of Cambridge (UK)||405||1.4%|
|Columbia University (USA)||392||1.4%|
|Princeton University (USA)||330||1.2%|
|Cornell University (USA)||234||0.8%|
|Tsinghua University (China)||222||0.8%|
|London School of Economics (UK)||215||0.8%|
|University of Tokyo (Japan)||206||0.7%|
|University of California, Berkeley (USA)||202||0.7%|
|Peking University (China)||194||0.7%|
|London Business School (UK)||180||0.6%|
|University of Chicago (USA)||178||0.6%|
|University of Southern California (USA)||175||0.6%|
|HEC Paris (France)||172||0.6%|