Forbes has just released its list of the wealthiest people in the world, and you may be surprised to discover that among the top ten, none have MBA degrees. Rather, this vaunted list is populated by…dropouts!
Microsoft Founder Bill Gates (#2) dropped out of Harvard; Oracle founder Larry Ellison (#5) dropped out of both the University of Chicago and the University of Illinois. Spanish fashion entrepreneur Amancio Ortega (#7) never attended college, so he cannot be considered a dropout. Eike Batista (#8), a Brazilian/German mining magnate, dropped out of Aachen University in Germany, while Mukesh Ambani (#9), the chairman of India’s largest conglomerate, completed a degree at Mumbai University before dropping out of Stanford Business School—at least someone has some MBA experience, short of that coveted degree! Finally, Christie Walton, an heiress to the Walmart Fortune and the wealthiest woman in the world, did not attend college (and her deceased husband, John Walton, dropped out of Wooster College).
Among the top ten, the Mexican magnate Carlos Slim (#1), legendary investor Warren Buffet (#3), purveyor of luxury goods Bernard Arnault (#4), steel magnate Lakshmi Mittal and the previously mentioned Mukesh Ambani completed their undergraduate studies. Meanwhile, Buffett is the only one to have completed an advanced degree (a Master’s degree from Columbia University in 1951).
You sure you need that MBA?