AffluenceIQ Reveals Top Massachusetts Colleges for Becoming Rich

So, do you want to be a multimillionaire? Which New England College or University Should You Attend? New Data from AffluenceIQ, a database of the 2,000 richest people in Massachusetts, ranks the top schools to attend for those itching to attain super wealth.

Combing the educational backgrounds for 1,825 residents of Massachusetts with net worth estimates of $10 million or more, AffluenceIQ reveals the schools most frequently attended (for undergraduate and graduate studies).

Rank........School................. Wealthy Local Alumni

  1. Harvard.................. Abigail Johnson, John Grayken, Bob Kraft
  2. MIT .........................Phillip Ragon, Ray Stata, Kenan Sahin
  3. BU ..........................Shari Redstone, Paul Fireman, Vincent Ryan
  4. BC ...........................Jack Connors, Peter Lynch, John Kerry
  5. Dartmouth .............Alan Trefler, Langley Steinert, Alan Leventhal
  6. Northeastern .........Edward Johnson IV, Roger Marino, James Pallotta
  7. Yale ........................Henry McCance, Steven Dodge, Josh Beckenstein
  8. Babson ...................David Mugar, Bob Davis, Marjorie Seligman
  9. Tufts .......................Bill Cummings, Michael Gordon, Jim Manzi
  10. Brown .....................Jeffrey Swartz, Nancy Zimmerman, George Krupp

Contrary to Thomas Stanley’s “The Millionaire Next Door,” which counterintuitively deduced a significant number of millionaires are less educated and employed in blue collar occupations, AffluenceIQ’s data suggests that among the super wealthy, education is paramount.

Of the 1,825 profiles scrutinized, more than 85% attended college, and more than 55% had graduate degrees.

And if anyone says a Harvard degree isn’t an important ingredient for accumulating mega wealth—they should think again. While certainly not a prerequisite for attaining super affluence, Harvard graduates represent a staggering 23% of Massachusetts’ uber rich. Approximately 18% of Massachusetts’ richest attended Harvard Business School.

"One of the most fascinating aspects of this database, is how education is a common underlying factor among the super wealthy," said Publisher Michael Stern. “Even in industries like construction, wine distribution, and beer making—segments which one might think require less education—we found highly educated CEOs. Examples include Anthony Consigli, who runs Consigli Construction; Carl Martignetti, who co-owns wine distributor Martignetti Companies; and Richard Doyle, who co-founded Harpoon Brewery – all three of whom attended Harvard."

The Top 15 Schools Attended by Massachusetts' Super Wealthy (includes non-New England schools):

  1. Harvard
  2. MIT
  3. University of Pennsylvania         
  4. Boston University
  5. Boston College          
  6. Dartmouth         
  7. Northeastern  
  8. Cornell
  9. Stanford
  10. Yale                      
  11. Princeton
  12. Babson              
  13. Columbia
  14. Tufts                    
  15. University of Chicago

NOTE: In this list of top schools, Undergraduate and various Graduate divisions of a particular college or University were aggregated. For example, a Boston College Law graduate and a Boston College undergraduate were scored as two Boston College attendances. The various schools within an institution were not listed separately. We did not include Honorary degrees. We excluded attendance of schools when the individual did not graduate.

Note: This study makes no claim to be an academic or scientific study of net worth and its correlation to education. The data is based only on information collected by AffluenceIQ, a database of 1,825 high net worth individuals in Massachusetts.


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