Top 10 Richest Universities in the world
When it comes to determining education in a university, people consider area or place, prestige, endowment ranking, education, placement, and many more. If the institution is richer, the better facilities, professors, and up-to-date technology are given to their students. Universities can also use monetary power to establish a scholarship or to allure the best educators to teach in the institute. Let’s look top 10 richest universities in the world according to the financial endowment.
1. Harvard university
Harvard University is located in Cambridge, Massachusetts. It is one of the richest universities according to endowment ranking, which has 40.9 billion USD. It was founded in 1636. In 1639, it was entitled Harvard College after the death of priest John Harvard, an ex-student of the University of Cambridge who donated $1.285 and his some books. Nevertheless, in 2014, 150 million USD was donated by Citadel founder and Harvard alumni Kenneth C. Griffith and became the new biggest donator in the history of the college.
2. Yale university
Yale University is located in new haven, Connecticut. It is the second richest university according to endowment ranking, which has $31.11 billion. It was established on 9 October 1701. It is acknowledged for its best selective law schools along with art, medicine, management, and nursing schools. In America, Yale University is one of the finest performing investment portfolios in higher education. In 2013, Charles B. Johnson, alumni of Yale college, donated $250 million to help construct the two new residential colleges, which was the biggest donation in history. $100 million was contributed by Stephen Adams to authorize Yale school of music to become tuition-free and to build Adam center for musical arts.
3. University of Texas system
The University of Texas is located in Austin, Texas, United States. It is the third richest university according to endowment ranking, which has $30.1 billion. It was established in 1883. In 2010, $120 million was contributed by Bill and Melinda Gates for the construction of a computer science complex and dell computer science hall and $51 million Bello center for new media. In 2012, the moody foundation contributed $50 million to the college of communication. Other benefactors like Hearst Corporation, Mulva family foundation, and red McCombs entrepreneur of the McCombs School of business donated $50 million.
4. Stanford university
Stanford University is located in Stanford, California, united states. It is the fourth richest university according to endowment ranking, which has $28.9 billion. It was established in 1891. It is the best university in the world by academy publication. In 1940, Fredrick Terman, alumni and dean of the school of engineering played an important role in the rise of Silicon Valley. In 2012, Stanford raised fund $1.035 billion and became the first school in America to raise such an amount in a year. In 2001, Hewlett foundation contributed $400 million, which was the top donor to the university, but while five years, Philip H. Knight donated $105 million. Other bestowed like Robert king, john Arrillaga donated more than $150 million.
5. Princeton university
Princeton University is located in Princeton, New Jersey, unites states. According to endowment ranking, it is the fifth richest university, which has $26.6 billion, the largest endowment per student in the United States. It was established on 18 January 1746. It is one of the oldest universities in the world. In 2007, Whitman College was named after ex-eBay CEO Meg Whitman, who donated $30 million. In 2011, founder and executive chairman of Amazon Jeff Bezos and his wife Mackenzie contributed $15 million. In 2012 Bijan and Sharmin Mossaver-Rahmani, alumni of Princeton University, contributed $10 million to build the center for Iran and Persian Gulf studies. They have their own art museum, which gets millions of dollars for college funds.
6. University of California
The University of California is located in Oakland, California, united states. It is the sixth richest university according to endowment ranking, which is 21.1 billion. It was established on 23 March 1868. It is built out across ten official campuses in the state of California. In 2007, William and Flora Hewlett foundation donated $113 million to Berkeley, which is the biggest contribution to the university. BP, an international leader in energy production, contributed $500 million to fund the universities energy biosciences institute and the Dow chemical co. Donated $10 million to sustainability research. In 1989, Walter and Elis donated $23.70 million. Because of that, Berkley’s business school was rechristened the Hass School of business. Richard and Rhoda Goldman contributed $10 million, and for their honor, the Goldman school of public policy was rechristened.
7. King Abdullah University of science and technology
King Abdullah University of science and technology (KAUST) is located in Thuwal, Saudi Arabia. It is the seventh richest university according to endowment ranking, which has $20 billion. It was established in 2009. KAUST is Saudi Arabia’s first co-ed college campus. The college is nicknamed the “house of wisdom” because of the international course they are providing. KAUST is the first LEED (leadership in energy and environmental design) certified project and the largest LEED platinum campus globally. It is the fastest-rising university in the world.
8. Massachusetts Institute of technology
Massachusetts Institute of technology is located in Cambridge, Massachusetts, united states. It is the eighth richest university according to endowment ranking, which has $18.38 billion. It was established on 10 April 1861. It is also known as the Mecca of computer education. Mr. Smith, an anonymous donor, was the biggest contributor to the funds. After some years, it was found the donor was George Eastman, the founder of Kodak, who contributed $20 million and stock of his company. In 1997, the F.W.Olin foundation helped in setting up Franklin W. Olin College of engineering and provided around $460 million by 2005.
9. University of Pennsylvania
The University of Pennsylvania is located in Philadelphia, Pennsylvania, united states. It is the ninth richest university according to endowment ranking, which has $14.88 billion. It was established in 1740. In 1755, the institute rechristened the college of Philadelphia, and in 1791 it was renamed as the University of Pennsylvania. In 2010, the private sector donated $400 million. The Wharton School was established in 1881 because of the industrialist and contributor Joseph Wharton. In 2011, $225 million was donated by businessman and philanthropist Raymond G. Perelman, and in honor of this, the University of Medicine was renamed after Raymond and Ruth Perelman.
10. Northwestern university
Northwestern University is located in Evanston, Illinois. It is the tenth richest university according to endowment ranking, which has $14 billion. It was established on 28 January 1851. It has two campuses in Illinois and Chicago. School of business was renamed as J. L. Kellogg graduate school of management. In 2002, in honor of the joseph and Bessie Feinberg Foundation, who contributed $75 million, the Feinberg School of medicine was renamed. In 2013, the northwestern’s innovation and new ventures office made $79.8 million through revenue.