What the world’s billionaires studied and where – including South Africa
The recently published Hurun Global Rich List 2022 ranks over 3,300 billionaires from 69 different companies and 2,500 companies – including South Africa.
The report highlights the industries and companies behind some of the wealthiest people in the world.
Chairman and principal researcher of the report, Rupert Hoogewerf, said: “The Russia-Ukraine war, Covid-19, and the US-China Trade War all contributed to 337 billionaires going off the list this year, almost one a day.”
Nevertheless, continuous economic digitisation, technological advancements, and inflation supported the addition of 490 new billionaires to the list, resulting in an unexpected net gain of 153 billionaires, said Hoogewerf.
The report showed that the energy, biotech, luxury goods, semiconductor, software services and shipping industries had good results.
Hoogewerf stressed that there are now 10 individuals with $100 billion in wealth, up from zero a mere five years ago.
“At this rate, by 2030, expect to see 8,000 billionaires, 600 with $10 billion and more than fifty with $100 billion,” noted Hoogewerf.
World’s most wealthy
Sergey Brin and Larry Page of Alphabet fame joined the top 10 at the expense of Mark Zuckerburg and China-based Zhong Shanshan.
Elon Musk of Tesla fame remains the richest man on the planet, with an estimated wealth of $205 billion.
The table below details where and what the 10 wealthiest people in the world studied:
| Rank | Name | Wealth US$bn | Age | Main Company | University | Degree |
|---|---|---|---|---|---|---|
| 1 | Elon Musk | 205 | 50 | Tesla | University of Pennsylvania | Bachelor in economics and physics |
| 2 | Jeff Bezos | 188 | 58 | Amazon | Princeton University | Bachelor degree in electrical engineering and computer science |
| 3 | Bernard Arnault | 153 | 73 | LVMH | The École Polytechnique | Bachelor degree in engineering |
| 4 | Bill Gates | 124 | 66 | Microsoft | Harvard University | Dropped out but enrolled in a pre-law major with mathematics and graduate-level computer science course |
| 5 | Warren Buffet | 119 | 91 | Berkshire Hathaway | University of Pennsylvania, and Columbia Business School | Bachelor of Science in business administration and a master of science in economics |
| 6 | Sergey Brin | 116 | 48 | Alphabet | The University of Maryland, and Stanford University | Bachelor of Science in computer science with honours in computer science and mathematics |
| 7 | Larry Page | 116 | 48 | Alphabet | The University of Michigan, and Standford University | Bachelor of Science in computer engineering and a master of computer science from Standford University |
| 8 | Steve Ballmer | 107 | 65 | Microsoft | Harvard University | Bachelor of Arts in applied mathematics and economics |
| 9 | Mukesh Ambani | 103 | 64 | Reliance | The Mumbai Insitute of Chemical Technology | Bachelor in chemical engineering |
| 10 | Bertrand Puech & Family | 102 | N/A | Hermes | Axel Dumas (current CEO) Paris-Sorbonne University | Bachelor degree in philosophy and master of laws. |
Both degrees relating to engineering and computer science dominated the education of the ultra-rich. Economic and mathematic related courses followed. Whereas expertise in the legal, physics and business administration fields was less common.
Prestigious universities such as the Californian University of Standford and the University of Pennsylvania were the schools of choice for many mega-wealthy business people.
These universities have low acceptance rates due to their exclusivity. Despite the University of Standford not having a minimum SAT score requirement, it is recommended that students achieve within the 75th percentile of 1,580 or above. The average score for the American mathematical and verbal skills tests (SAT) is 1,051.
South Africa
The number of South African billionaires in the ranking has remained unchanged from 2021, with five listing among the global elite.
Due to solid gains in luxury goods and the financial sector, South Africa’s billionaires have increased their wealth from $21.4 billion in 2021 to $24.6 billion in 2022.
South Africa’s richest person, Johann Rupert, saw his wealth increase by 56% over the last year to $10 billion, placing him ahead of the local ranking, with Nick Oppenheimer and Koos Bekker following.
| Rank | Name | Wealth US$bn | Age | Main Company | University | Degree |
|---|---|---|---|---|---|---|
| 238 | Johann Rupert | 10 | 71 | Compagnie Financiere Richemont | Stellenbosch University | Honorary doctorate in economics and an honorary doctorate in commerce |
| 356 | Nicky Oppenheimer | 8.1 | 76 | De Beers Group | Christ Church, University of Oxford | Master of Arts in philosophy, politics and economics |
| 1408 | Koos Bekker | 2.6 | 69 | Naspers | Stellenbosch University | Bachelor of Laws and literature |
| 1636 | Patrice Motsepe | 2.3 | 60 | African Rainbow Minerals | University of Swaziland, and University of Witwatersrand | Bachelor of Arts degree and a law degree in mining and business law |
| 2237 | Michiel le Roux | 1.6 | 72 | Capitec Bank | Stellenbosch University | Bachelor of commerce in law and bachelor of laws |
Three out of the five South African billionaires got a law degree, two of which were business and commerce-related. All five billionaires, either honorarily or through completing a degree, had expertise in business and economics.
Read: What it takes to be middle-class in South Africa right now
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