MU among top 20 global varsities with super rich alumni
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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.