Education Level on Billionaires….
It’s illustrated by powerful examples from Bill Gates, Steve Jobs, and Mark Zuckerberg to Frank Lloyd Wright and Buckminster Fuller to James Cameron and Tom Hanks (every one of them is a College dropout.
It’s the sub-headline and positioning of a recent “Billionaire University” story in the Forbes 30 Under 30 issue: “Some of the Forbes 400 have Ph.D.s; far more never finished college.”
The Concept: College is unnecessary if you want to get rich. The best school is the school of hard knocks ( school of life or learning by losing ). The lecture hall pales in value to life experience. Learning means doing.
The concept is true. College is not absolutely necessary. High school grads and college dropouts do populate the Forbes 400
While I concede that it’s true, it’s also misleading, as is the positioning of the Billionaire University piece (comparison of college dropouts to a narrow segment of advanced degree holders).
The Chart: Using data published in and adding a couple observations, I produced this chart.
Education Levels of the Forbes 400 – the Richest People in the United States
- Yes, there are high school grads and college dropouts among the 400. They represent 8% of the group.
- Yes, there are many more college dropouts than PhDs – by a ratio just shy of 2:1.
- But, there are 341 total advanced degrees. If each person only had one, that would represent more than 85% of the 400.
- Even assuming that each person with an advanced degree held two of those 341, that leaves 170 of them with advanced degrees. That’s more than 42% of the 400 and nearly five times more than college dropouts.
- There are more than twice as many MBAs in the Forbes 400 than there are college dropouts.
- But what is wealth worth is you don´t have anyone to share it with.
- Also you will never become a billionaire, if you don´t love you business a work with the perfect team.
Next week I will blog about How to become a success with you self or you business….
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