UM - Among top 20 US universities w/ wealthiest alumni

[GhostRecon_Cane]

Wealth-X ranked the top 20 US colleges with the most ultra-high-net-worth (UHNW) alumni in its new report, " The University of Ultra High Net Worth Alumni Rankings 2019." The report analyzed the Wealth-X database to look at the relationship between education and wealth levels across universities worldwide.

Wealth-X reported the actual number of UNHW individuals known to hold a degree from each institution and then calculated a projected estimate to predict the number of alumni with the total global UHNW population. Wealth-X defines ultra-high-net-worth individuals as those with assets exceeding $30 million and included both undergraduate and graduate alumni with degrees.

18. University of Miami is located in Coral Gables, Florida.

Estimated ultra-high-net-worth population: 1,700

Estimated combined wealth of all UHNW graduates: $309 million
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This is why UM will never fund a Foundation nor play the "bag name". Manny needs to start showing parents this study. Only 7% of college football will ever earn a salary from the NFL. UM is the perfect hedge! Train with the best and rely on a first rate education when football ends................ Neither Georgetown, Vanderbilt, Brown, Dartmouth nor Duke made the list!

The top 20 US universities with the wealthiest alumni, ranked

Where you attend college can influence future earnings. Ivy Leagues, private universities, and California schools produce the wealthiest individuals.

www.businessinsider.com

Awesome! Yes parents of 4 and 5 stars will def see the value in this and turn down the 200K, new car and job under the table offered by UGA. SFLA parents, (well mostly single mothers), will certainly see the long term results of being an ALUMNI of the U and push aside Saban and his Bag$ Wich offer instant gratification . This article is the solution to all our recruiting problems.

 

[bobbydigius]

God ****, Stanford and Harvard have some rich alumni.

 

[bobbydigius]

Also, am I missing something here? Everyone is saying millions but the article clearly states 309 billion. Also, lulz at anyone saying 30 mil isn’t rich, just stop.

 

[OriginalGatorHater]

Yeah. Sure.

Exactly the response I would expect from you on this subject. However, I expected a follow up of "if you have a net worth of 1,000,000 dollars you are rich!"

 

[OriginalGatorHater]

Also, am I missing something here? Everyone is saying millions but the article clearly states 309 billion. Also, lulz at anyone saying 30 mil isn’t rich, just stop.

Good catch. OP changed it from Billion to Millions in his copy and paste, for whatever reason. That is what is causing the confusion. Great job on actually reading the article. That said 30 mil is not rich.

 

[OriginalCanesCanesCanes]

Its also just enough that you make one bad investment and you are broke. There are literally athletes who make 30+m a year. No one really considers athletes rich besides the real peak athletes like Jordan, Lebron, Mayweather, etc. 200-300m is generally the "rich threshold" that I have heard when speaking with "rich" people, but I have heard some people go as low as 100m to be rich.

Of course this all depends on the person. I know guys that live in the projects and consider guys making 80k a year "rich". I know guys that laughed when I said Brady and his wife were rich.

Personally, I think 100m would be considered rich because even after a few bad fvckups you still have enough money to retire on.

Plenty of educated people worth 30m end up broke. It is much rarer for 9 figure net worth educated people to end up broke.

If you have 30M and one investment sinks you...you deserve to be sunk.

With just common sense investments, diversification, with appropriate asset allocation, you can live like a king with $30M - not even touching the principal, while actually growing it...and have plenty left over to leave for loved ones. You would only need more than this if you want to be generationally rich.

Of course that’s assuming that you’re not an idiot that needs ten Lamborghinis and a dozen vacation homes.

 

[OriginalGatorHater]

If you have 30M and one investment sinks you...you deserve to be sunk.

With just common sense investments, diversification, with appropriate asset allocation, you can live like a king with $30M - not even touching the principal, while actually growing it...and have plenty left over to leave for loved ones. You would only need more than this if you want to be generationally rich.

Of course that’s assuming that you’re not an idiot that needs ten Lamborghinis and a dozen vacation homes.

I wasn't talking about having 30m in the bank(Which I still personally, wouldn't consider rich). I meant 30m net worth, which is what I believe the article was referencing. So I would assume 5m of that is the main house. With 2 2.5m vacation homes. So I was thinking 20m in the bank cash. If you make a 2-3 bad investments you are now selling your homes just to survive.

Look how many times you see NFL or NBA players with net worths of 30m or so go bankrupt off a couple bad investments. When you are "rich" a couple bad investments won't sink you.

Also, you may even be a "smart" person and just due to bad luck your 2-3 investments end up failing and you are broke.

That is just my 2 cents. Like I said before, rich is relative. I grew up with guys that consider the postman rich because the guy drives around in an old 3 series and has a 200k house(not even joking).

 

[g8rh8rMD]

Its also just enough that you make one bad investment and you are broke. There are literally athletes who make 30+m a year. No one really considers athletes rich besides the real peak athletes like Jordan, Lebron, Mayweather, etc. 200-300m is generally the "rich threshold" that I have heard when speaking with "rich" people, but I have heard some people go as low as 100m to be rich.

Of course this all depends on the person. I know guys that live in the projects and consider guys making 80k a year "rich". I know guys that laughed when I said Brady and his wife were rich.

Personally, I think 100m would be considered rich because even after a few bad fvckups you still have enough money to retire on.

Plenty of educated people worth 30m end up broke. It is much rarer for 9 figure net worth educated people to end up broke.

Can’t really disagree with any of that. But athletes and other suddenly wealthy are a bit of a different story than $30M rich from building up a business or having a successful medical or legal career. It’s really not that hard to live off $30M for the rest of your life if you’re satisfied with a $750k 4 bed 3 bath, a 35-40’ Bertram and a nice Lincoln Navigator every 4-5 years, and 1-2 week vacations in the Bahamas on your own boat. When you need bottle service a few nights a week, a $300k car, private jets and $15M mansions, it goes a bit quicker. The former is happy with real estate, mutual funds and bond funds and generating a safe 6-7% return, while the latter is more likely to end up getting in to “one bad” investment.

 

[bobbydigius]

Good catch. OP changed it from Billion to Millions in his copy and paste, for whatever reason. That is what is causing the confusion. Great job on actually reading the article. That said 30 mil is not rich.

Based on what? Being worth 30 mil puts you in the top .3-.2 percent in the US and actually higher in the world. If that isn’t rich, well I don’t know what is. True top 1% net worth is at 10 mil.

 

[TheMatador]

Exactly the response I would expect from you on this subject. However, I expected a follow up of "if you have a net worth of 1,000,000 dollars you are rich!"

How would you know what to expect from me?

I suspect a lot of the wealth in South Florida was made in illegal drugs.

 

[Canedude08]

I wasn't talking about having 30m in the bank(Which I still personally, wouldn't consider rich). I meant 30m net worth, which is what I believe the article was referencing. So I would assume 5m of that is the main house. With 2 2.5m vacation homes. So I was thinking 20m in the bank cash. If you make a 2-3 bad investments you are now selling your homes just to survive.

Look how many times you see NFL or NBA players with net worths of 30m or so go bankrupt off a couple bad investments. When you are "rich" a couple bad investments won't sink you.

Also, you may even be a "smart" person and just due to bad luck your 2-3 investments end up failing and you are broke.

That is just my 2 cents. Like I said before, rich is relative. I grew up with guys that consider the postman rich because the guy drives around in an old 3 series and has a 200k house(not even joking).

OG, we get it, you have higher expectations than the rest of us plebes. That said, you are very, VERY well off if you have 15 million plus sitting in the bank. Odds are that 15 million is sitting there making money, especially if you aren't a moron. You should be able to live comfortably on the interest payments alone, if you don't choose to reinvest it. That's with boring, conservative bank investments.

NFL guys go broke because they don't have a plan worth a ****, most of them aren't making millions(You'd be amazed how relatively little most guys make, especially once you consider the tax structure). If you have a 30 million dollar net worth, with 15+ million in liquid capital, you should be able to live an extremely comfortable life. You should be able to have MULTIPLE investments go sideways, but if you are properly diversified, you won't feel it. Yes, you don't have F**K Everyone money, but you also have "I don't have to work a job I hate" money, which isn't half bad, especially if you do the two most important things: Own your home free and clear, and avoid racking up credit card debt.

 

[kruker]

Good catch. OP changed it from Billion to Millions in his copy and paste, for whatever reason. That is what is causing the confusion. Great job on actually reading the article. That said 30 mil is not rich.

No. I think Business Insider made the mistake but didn't issue a correction.

 

[Gatorhater]

I doubt that but I'd be interested in hearing why you believe that. I know it's true admissions interest increased in the mid to late '80's and I think admissions people attributed that to our increased
visibility because of the football team's success.

The went to Miami in early 70’s and it was Sun Tan U. You mentioned to someone you graduated from Miami and they said, Oh. By the mid 80’s you Miami and the response was usually, “no ****, you went to The U!!!” Never once in all the years since did anyone answer, “is it true that James Michener taught there?“. Not scientific method but clear enough for me. Miami had good med and law school and was renown for oceanography but famous before Howard and JJ? Nope. The football players made The U a worldwide brand in the level of ND and the Golden Arches.

Do you think was Foote’s bow tie or Donna’s riculouly overpriced acquisitions? The administration did not spend 40 years trying to get ride of Sum Tan U because is was ended that beautiful night in the OB. They spend 40 years apologizing for the football team while trying to cling desperately to the fame those kids brought to the school.

 

[Gatorhater]

I love the people who come on here and talk casually about the average non-wealthy UM graduate could easily be worth millions early in their careers. Then they go on and talk about a NW of $30M being nothing. If I had that kind of net worth you could be sure I'd find something more exciting then spending time on the internet on a college football message board.

Instead of hiding behind an anonymous screen name, why you don't you reveal who you are and show some evidence of your vaunted wealth?

I then to Agree.

 

[TheOriginalCane]

Who?

Seriously?

MasTec? The Mas brothers? The guys who brought Coach Laranaga to UM's attention?

 

[TheMatador]

Seriously?

MasTec? The Mas brothers? The guys who brought Coach Laranaga to UM's attention?

I looked them up after my post. I had never heard of them. Now I know who they are.

I don't live in South Florida so not part of the community and haven't been down there in decades. Used to go to games in the '80's and '90's but no more. Further, I'm not an alum. I'm one of those who grew up in South Florida when we had no other teams besides UM football and basketball. No Heat, Dolphins, etc.

I became a fan because it was a family thing, my father probably became a fan sometime in the 40's when he attended UM and I got it from him. I've always followed the Cane's, unlike a lot here who might have started only once they became UM students. As kids, a lot of my friends became UM fans although we never later attended the U. It was our city's team.

By the time the Mas brothers and Larranega connected, I was following many things less assiduously. In the '80's I had delivery subscriptions to both the Herald and Miami News (mail-order to Virginia where I lived at the time and that was not cheap. Did it only for UM football coverage.) I'd go on the rounds of all the newsstands carrying out-of-town papers and pick up the Sun-Sentinel as well for important games and recruiting news after NSD. I'd call Washington bureaus of out-of-town papers to get selected papers after there was some big news. I'd call sports bureaus in different cities to talk about recruits from their cities (I remember talking to sportswriters at the Denver Post to ask about Darren Krein).

I've slowed down a lot since then. My fanaticism has subsided with age. So, I didn't know about the Larranega story.

But I did know who recruited Shalala to UM. UM had a trustee named Chuck Cobb who spent a good deal of time in D.C. He had, I believe, a high level political appointment in the Commerce Dept. during the George H.W. Bush administration. He was a businessman, as I recall and active in Republican circles. I read or heard, and I think it was reliable, that he approached Shalala about the UM job despite their different political allegiances.

I have one friend from a very strong UM (and Republican) family who used to complain about Shalala from time-to-time as much for her politics. I would remind my friend that her politics did not necessarily determine how she would do her job as President. I also reminded my friend that Shalala was apparently recruited to apply for the U presidency by a Republican, if the story was true.

Now, I'm not trying to start a political fight here, just pointing out some irony in how Shalala was hired. There might be more to the story and some of you might have a better handle on it than I do. (Make any changes or corrections).

Over the years, I have met a few of the more prominent leaders/alums/officials associated with the U. The two I remember we're Chuck Cobb and Tom Tew. In each case it was a one shot meeting and had no ongoing contact.

So, I'm not familiar with more recent events or people. I also used to work with the alumni office and Hurricane Club (organized a few events in DC area) but not any more.

 

[OriginalGatorHater]

OG, we get it, you have higher expectations than the rest of us plebes. That said, you are very, VERY well off if you have 15 million plus sitting in the bank. Odds are that 15 million is sitting there making money, especially if you aren't a moron. You should be able to live comfortably on the interest payments alone, if you don't choose to reinvest it. That's with boring, conservative bank investments.

NFL guys go broke because they don't have a plan worth a ****, most of them aren't making millions(You'd be amazed how relatively little most guys make, especially once you consider the tax structure). If you have a 30 million dollar net worth, with 15+ million in liquid capital, you should be able to live an extremely comfortable life. You should be able to have MULTIPLE investments go sideways, but if you are properly diversified, you won't feel it. Yes, you don't have F**K Everyone money, but you also have "I don't have to work a job I hate" money, which isn't half bad, especially if you do the two most important things: Own your home free and clear, and avoid racking up credit card debt.

Not what I am insinuating at all. I am far far from rich and there are plenty of UM grads who are actually rich. Not my point at all. However, you are correct they are very well off. I was just being pedantic.

 

[OriginalGatorHater]

How would you know what to expect from me?

I suspect a lot of the wealth in South Florida was made in illegal drugs.

Because you usually pop in with ridiculous incorrect hot takes.

 

[OriginalGatorHater]

Can’t really disagree with any of that. But athletes and other suddenly wealthy are a bit of a different story than $30M rich from building up a business or having a successful medical or legal career. It’s really not that hard to live off $30M for the rest of your life if you’re satisfied with a $750k 4 bed 3 bath, a 35-40’ Bertram and a nice Lincoln Navigator every 4-5 years, and 1-2 week vacations in the Bahamas on your own boat. When you need bottle service a few nights a week, a $300k car, private jets and $15M mansions, it goes a bit quicker. The former is happy with real estate, mutual funds and bond funds and generating a safe 6-7% return, while the latter is more likely to end up getting in to “one bad” investment.

No question about it. I bet you could even live off 5 mill if you cook all your own food and know how to be thrift with your purchases(My mom used to be able to feed the fam with 2-3bucks a day), live in a small home in a state with low property taxes, etc. etc.
I agree 100% with your statement. I just was being pedantic about being "rich" from what I have heard from people I consider rich.

 

[OriginalCanesCanesCanes]

...It’s really not that hard to live off $30M for the rest of your life if you’re satisfied with a $750k 4 bed 3 bath, a 35-40’ Bertram and a nice Lincoln Navigator every 4-5 years, and 1-2 week vacations in the Bahamas on your own boat. ...

That’s about a $3-5 million net worth lifestyle, with a yearly income of $250-300,000. The Bertram is a waste unless you’re taking it out every weekend, btw. Cheaper just to charter as needed. Also, at this level, you’re taking 6-10 weeks of luxury vacations.