Billionaire Dropouts

Billionaire Dropouts

Many people have drop out from their college and after that they became billionaires. Here is a shocking Statement from Forbes,

“For every Jerry Yang, who dropped out of a Ph.D. program at Stanford University and now has net worth of $5.7 billion, there is a Larry Ellison, who dropped out of the University of Illinois and is now worth $47 billion. In fact, the average net worth of billionaires who dropped out of college, $9.4 billion, is more than double that of billionaires with Ph.D.s, $3.2 billion. Even if you factor out the world's richest man, Bill Gates, who left Harvard University and is now worth $60 billion, college dropouts are worth $5.3 billion on average, as compared to those who finished only bachelor's degrees, who are worth $2.9 billion. And what is true for billionaires holds equally for the garden-variety rich: According to a recent report from Cambridge, Mass.-based Forrester Research, a full 20% of America's millionaires never even set foot in college.”

Isn’t it Shocking? What does this mean? This means that, the education system is not at all effective to ensure any kind of financial success. In fact, Education system only produces Employees & Self-employees who work like slaves in the economy and work for the rich.

See the above Diagram. According to the above Diagram, 10% Billionaires are College Dropouts, 1% are High School Dropouts and 39% have taken very light college degrees like B.A or B.S. while only 28% Billionaires are M.S.

This shows that, the more education burden you take, you reduce your chances of becoming a Billionaire.

We have been taught in the School that, if we want to be rich and financially free than we need to work hard in the school, get good grades and find out a safe secure job. But by seeing the above analysis, it seems that, School was telling us lie.

This is because it doesn’t require any sophisticated degrees or even college level of education to become a Billionaire…!!!

According to Forbes,

“Alan Gerry is another billionaire high school dropout. Gerry, 71, also filled his bank account by exploiting a new technology. In 1956, ten years after he dropped out of high school, Gerry built the first cable television network in upstate New York. He made his fortune in this new market, and then sold his company, Cablevision, to Time Warner for $2.6 billion four years ago. Now Gerry is chairman of a venture capital firm called Granite Associates. Granite funds entrepreneurs trying to make their money in burgeoning technology industries, just as Gerry made his fortune by getting into cable when it was still in its infancy.
"When you have a brilliant idea, nobody is going to ask to see your diploma," Gerry says. "You don't need a four-year college degree if you have burning ambition or a great plan."

Gerry is right. If you have a plan than you should not go for college. If you have a brilliant idea than no need to waste your valuable time for going to college. This is because your financial success doesn’t depend on educational degrees.