Tech and Finance Drive Wealth Generation Among UHNW Alumni, According to New Report

Altrata Report Highlights the Growing Influence of Asian Universities in Wealth Creation

A recent report by data company Altrata has highlighted the National University of Singapore (NUS) and Tsinghua University as the top institutions in Asia for producing ultra-high-net-worth individuals (UHNWIs), defined as those with a minimum net worth of US$30 million. NUS has around 3,400 UHNW alumni, placing it 17th globally and third among non-US universities. In comparison, Tsinghua University has produced about 1,400 such graduates, ranking sixth among non-US institutions alongside the University of Manchester, although it does not feature in the global top 20. These figures reinforce the prominent role these universities play in shaping Asia’s wealthiest individuals and demonstrate their significance as educational powerhouses.

Globally, US universities continue to dominate. Harvard University leads with an estimated 18,000 UHNW alumni, which accounts for roughly four per cent of the world’s 483,500 ultra-wealthy individuals. The University of Pennsylvania follows with 9,300, while Stanford University has 8,400. The report’s authors, Maya Imberg, Maeen Shaban and Bettina Lengyel, noted that the combined total of UHNW alumni from the top 20 non-US universities, approximately 34,400, is still lower than that of the top three US institutions alone. This disparity is attributed to the United States’ position as the largest UHNW market and the long-standing reputation of its universities for providing a direct path to wealth.

Among non-US institutions, the University of Oxford and the University of Cambridge stand out with 4,900 and 4,700 UHNW alumni, respectively, ranking sixth and seventh globally. Several Asia-Pacific universities also appear on the list. Peking University, Delhi University and Mumbai University each have around 1,200 UHNW alumni, tying for ninth place with McGill University in Canada. Meanwhile, the University of Hong Kong, the University of New South Wales and the University of Sydney each have about 900, sharing 15th place with the American University of Beirut and London Business School.

Altrata explained that the rankings were based on a combination of verified ultra-wealthy alumni and estimates of those yet to be identified, offering a more comprehensive perspective on how universities contribute to wealth generation. The report further revealed that about 25 per cent of UHNW alumni who graduated in the last 20 years have pursued careers in banking and finance. Although this sector remains a major driver of wealth, its share has declined slightly from 29 per cent in earlier generations. Altrata linked this trend to the effects of post-financial-crisis restructuring and tighter regulation within the financial services industry.

In contrast, the technology sector has seen a notable rise. Approximately 10 per cent of UHNW graduates from the last two decades now work in tech-related fields. This increase reflects the sector’s scalability, low barriers to entry and cross-border digital reach, particularly in Asia and other emerging markets. The report underscores the strong link between higher education and wealth, while showing how shifts in industry trends are shaping the professional paths of the world’s richest graduates.

Editor's Note:

The recent Altrata report highlights the growing influence of universities in shaping the global ultra-wealthy population, with Asian institutions such as the National University of Singapore and Tsinghua University emerging as key players in wealth generation.  This shift in the prominence of non-US universities is a reflection of the increasing globalisation of wealth and education, and it is clear that institutions in Asia are quickly catching up with their American counterparts. The strong presence of Asian universities on the list underscores their academic prestige and also highlights the growing importance of the Asia-Pacific region as a major source of global wealth. It is also worth noting the significant rise in tech-related professions among ultra-wealthy graduates, signalling a shift in the industries driving wealth. While banking and finance remain prominent, the growing appeal of technology, with its scalability and relatively low barriers to entry, is reshaping career pathways for future generations of UHNWIs.

Skoobuzz emphasises that this trend should encourage universities to reassess their curricula and ensure they are preparing graduates for the rapidly evolving global economy, particularly as emerging markets continue to influence wealth creation on a global scale.