Janice Lozano
The University of Oxford has produced the most millionaire alumni in the UK, with 153 of its graduates going on to become millionaires. Oxford is closely followed by Cambridge University, which has produced 111 millionaires. Aside from these two universities, other universities that have produced notable numbers of millionaires include the University of Southampton (25), the University of Leeds (38), the University of Edinburgh (not specified), the University of Birmingham (37), Durham University (34), the University of Bristol (not specified), and UCL (not specified). In terms of the richest students, St Andrews has the highest proportion of financially independent students, with 58% of first-year entrants not taking out student loans.
| Characteristics | Values |
|---|---|
| Universities with the highest proportion of financially independent students | St Andrews (58%), LSE (52%), Imperial College London (51%), Edinburgh (34%), Nottingham (34%), Warwick (32%), Manchester (29%), Oxford (27%), Southampton (27%), Bristol (24%), York (24%) |
| Universities with the most staff receiving total remuneration of over £100,000 per thousand students | London Business School (64.78), Imperial College London (55.31), London School of Economics and Political Science (23.32), University of Cambridge (22.89) |
| Universities with the fewest staff receiving total remuneration of over £100,000 per thousand students | University of Suffolk (0.29), Buckinghamshire New University (0.42), Northumbria University (0.52) |
| Universities that produced the most millionaires | Oxford (153), Cambridge (111), UCL (N/A), LSE (N/A), Imperial College (N/A), Edinburgh (N/A), Leeds (38), Birmingham (37), Durham (34), Southampton (25) |
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What You'll Learn
Universities with the most millionaire alumni
When it comes to the universities with the most millionaire alumni in the UK, the University of Oxford takes the top spot. With 153 millionaire alumni, Oxford has educated notable millionaires such as Lewis Carroll, author of "Alice in Wonderland", physicist Stephen Hawking, and former British Prime Minister, Tony Blair.
Following closely behind is the University of Cambridge, which has produced 111 millionaires. Cambridge's notable alumni include Sir David Attenborough, actor Sacha Baron Cohen, and Prince Charles.
Other UK universities with notable mentions include the University College London (UCL), ranked 8th in the UK, with millionaire alumni in the entertainment industry, such as actor Ricky Gervais and Coldplay singer Chris Martin. The London School of Economics (LSE), ranked 3rd in the UK, and the University of Edinburgh, with notable alumni including comedian Michael McIntyre and author Philippa Gregory, are also among the universities with the most millionaire graduates.
While the above-mentioned universities have a notable number of millionaire alumni, it is worth noting that the University of Southampton, ranked 15th, has produced 25 millionaires, including Formula One car designer Adrian Newey and musician Brian Eno. Similarly, the University of Leeds, ranked 20th, has 38 millionaires among its alumni, including actor Chris Pine and singer Dan Smith.
While this answer focuses on UK universities, it is worth mentioning that globally, Harvard University in the US stands out for having the most ultra-wealthy alumni, with over 17,000 graduates accumulating wealth of over $30 million.
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Universities with the richest students
While there is no publicly available data on the richest students in UK universities, there are a few ways to estimate which universities have the richest students. One way is to look at the percentage of first-year students who did not take out student loans, assuming that they are financially independent and do not need additional financial support. According to a Freedom of Information request, St Andrews, LSE, and Imperial College London had the highest proportions of financially independent students, with 58%, 52%, and 51% of first-year students opting out of student loans, respectively.
Another way to estimate the wealth of students at a university is to look at the number of millionaires the university has produced. According to a 2021 ranking, Oxford University topped the list with 153 millionaires, followed by Cambridge University with 111 millionaires. UCL, ranked 8th in the UK, has also nurtured many millionaires, including those in the entertainment industry such as actor Ricky Gervais and Coldplay singer Chris Martin. The University of Edinburgh, the first Scottish university to make the list, has produced millionaires such as comedian Michael McIntyre, while the University of Leeds has 38 millionaires among its alumni, including actor Chris Pine and singer Dan Smith.
When it comes to the wealthiest universities in terms of endowment, Cambridge University topped the list in 2010-2011 with an endowment of £4.1 billion, followed by Oxford University with an endowment of £3.6 billion. The University of Warwick is next with an endowment of £350.18 million, while the University of Manchester, one of the richest universities in the UK, has an endowment of £138 million.
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Universities with the most financially independent students
When it comes to the universities with the most financially independent students in the UK, there are a few institutions that stand out. Here is a list of universities with a notable proportion of financially independent students, based on the percentage of first-year students who did not take out student loans:
University of St Andrews
Prince William's alma mater, the University of St Andrews, tops the list with the highest proportion of financially independent students. During the referenced year, 58% of its 1,625 first-year entrants did not require a student loan, showcasing a significant level of financial independence.
London School of Economics (LSE)
LSE, ranked third overall in the UK, has a substantial number of financially independent students. In the referenced year, 52% of its 1,365 first-year undergraduates opted against taking out a student loan. This is particularly notable given that student maintenance loans for those living away from home and studying in London can be as high as £6,928 per year.
Imperial College London
Imperial College, ranked 5th in the UK, has a notable proportion of financially independent students. 51% of its first-year intake, totaling 2,365 students, chose not to take out a student loan. Imperial is known for its focus on science, engineering, medicine, and business subjects, attracting students with wealthy backgrounds.
University of Edinburgh
The prestigious University of Edinburgh, making its first Scottish debut on the list, demonstrates a relatively lower proportion of financially independent students compared to the top three. In the referenced year, 34% of its 5,065 first-year undergraduates took out first-year loans, indicating that a significant number of students are financially self-sufficient.
University of Nottingham
The University of Nottingham also has a notable number of privately-funded students. During the referenced year, 34% of its 7,320 first-year intake were privately funded and did not rely on student loans.
University of Warwick
Warwick University, located on the outskirts of Coventry, is another institution with a relatively high proportion of financially independent students. In the referenced year, 32% of its 3,930 first-year undergraduates did not take on a student loan, indicating a certain level of financial independence.
It is worth noting that other universities, such as the University of Manchester (29%), University of Oxford (27%), University of Bristol (24%), and University of York (24%), also have notable percentages of financially independent students, with percentages ranging from 29% to 24% in the referenced year.
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Universities with the highest-paid staff
While I could not find information on universities with the richest students in the UK, I did find details on universities with the highest-paid staff.
According to the TaxPayers' Alliance (TPA), a serious problem exists within universities that pay their staff large salaries despite poor performance. The TPA found that hundreds of university staff across the UK enjoyed six-figure salaries in 2013-14. In 2023-24, Freedom of Information requests revealed that at least 10,447 staff members across 105 institutions received over £100,000 in total remuneration, with a cost of over £1.2 billion. The real figure is expected to be much higher, as 59 institutions did not respond to the requests.
Among the Russell Group universities, the London School of Economics and Political Science (LSE) pays the largest proportion of its staff the highest pay band. More than half of its 1,035 staff earn above £63,668 each year. Following LSE, 35% of Liverpool University staff are in the highest pay bracket, and over a third of Imperial College London and King's College London staff earn above £63,668 each year.
The University of Oxford, University College London (UCL), and Imperial College London were the top three universities with the highest-paid staff in 2015. A professor at the London Business School was the highest-paid individual in London, receiving £647,500 in remuneration. The highest-paid individual in Scotland was the principal of the University of Strathclyde, earning £345,000, while an employee at Cardiff University in Wales earned £265,000.
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Richest universities overall
When it comes to the richest universities in the UK, there are a few ways to interpret the data. One way is to look at the universities with the most financially independent students. According to a Freedom of Information request, St Andrews, LSE, and Imperial College London have the highest proportion of first-year students who did not take out student loans, with 58%, 52%, and 51% respectively. Other universities with a high percentage of financially independent students include the University of Edinburgh (34%), the University of Nottingham (34%), and the University of Warwick (32%).
Another way to assess the richest universities is by the number of millionaires they produce. According to various sources, the University of Oxford tops the list, having produced 153 millionaires, including notable alumni such as Lewis Carroll, physicist Stephen Hawking, and former British Prime Minister Tony Blair. The University of Cambridge is a close second, with 111 millionaires, including alumni like Sir David Attenborough, actor Sacha Baron Cohen, and Prince Charles.
Other universities that have produced a significant number of millionaires include the University of Edinburgh (38 millionaires), the University of Leeds (38 millionaires), the University of Birmingham (37 millionaires), and UCL (ranked 8th in the UK). The University of Southampton, ranked 15th in the UK, has produced 25 millionaires, including Formula One car designer Adrian Newey and musician Brian Eno.
Finally, we can also consider the universities with the highest-paid staff. According to the TaxPayers' Alliance, the London Business School, Imperial College London, the London School of Economics and Political Science (LSE), and the University of Cambridge had the highest number of staff receiving total remuneration of over £100,000 per thousand students in 2023-24. The Courtauld Institute of Art had the highest ratio of staff earning over £100,000 relative to its student population, with 12 staff in this category for just 605 students.
In terms of overall endowment, Cambridge University topped the list in 2010-2011 with £4.1 billion, followed by Oxford University with £3.6 billion. The University of Warwick was next with £350.18 million, the University of Manchester with £138 million, and the University of Glasgow with £121 million.
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Frequently asked questions
St Andrews has the highest proportion of financially independent students. 58% of first-year entrants did not take out a student loan.
52% of LSE undergraduates decided against taking a student loan.
51% of Imperial College London students opted out of taking a student loan.
34% of undergraduates at the University of Nottingham are privately funded.
