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Go to a University, then Dropout

Researchers have completed their scientific study comparing the amount of schooling to the net worths of the top five U.S. successes in financial life.

The bottom line of their undisputable analysis reveals to all university faculty, and students, that in order to succeed: Go to a University, then Dropout.

No. 1 William Gates
Net worth: $51.0 billion (trend up)
Source: Software, Microsoft
Self-made
Education: Harvard University, Dropout

No. 2 Warren Buffett
Net worth $40.0 billion (trend down)
Source: Investments, Berkshire Hathaway
Self-made
Education: University of Nebraska Lincoln, Bachelor of Arts / Science; Columbia University, Master of Science

No. 3 Paul Allen
Net worth $22.5 billion (trend up)
Source: Software, Microsoft, investments
Self-made
Education: Washington State University, Dropout

No. 4 Michael Dell
Net worth $18.0 billion (trend up)
Source: Technology, Dell
Self-made
Education: University of Texas Austin, Dropout

No. 5 Lawrence Ellison
Net worth $17.0 billion (trend up)
Source: Software, Oracle
Self-made
Education: University of Illinois, Dropout

Furthermore, the trend indicated increasing net worths for those who Go to a University, then Dropout, as compared to one in the study who did not.

http://www.forbes.com

Education <> schooling.

edit ^ Many thanks to TheFallibleFiend ^ edit

A sample size of five isn't very convincing statistics. There is a positive correlation between highest level of schooling and earnings. It's not perfect, though, because there are other ways to get an education besides going to school.

One can be largely a self-educated person like Ben Franklin or Dean Kamen and still be very rich, IF a person has very high motivation. The vast majority of people who drop out of college are probably not even close to being wealthy.

Dropping out isn't sufficient. You have to be motivated.

There are three types of liars in the world. Liars, damned liars, and statisticians.

We know which you are.

Level of schooling correlates well with earning:

http://www.fairfaxcounty.gov/demogrph/incgrph2.htm

http://www.census.gov/prod/2002pubs/p23-210.pdf

http://www.ppic.org/content/pubs/RB_701JBRB.pdf

DA Morgan has failed to realise that, in the real world, an individual's
real worth is gauged by the amount of money they have accumulated.

Top 10 American Individuals -- Their Real Worth -- How Accumulated

1. William Gates -- $51 Billion -- (Self made)
2. Warren Buffet -- $40 Billion -- (Self made)
3. Paul Allen -- $22.5 Billion -- (Self made)
4. Michael Dell -- $18 Billion -- (Self made)
5. Lawrence Ellison -- $17 Billion -- (Self made)
6. Jim Walton -- $15.7 Billion -- (Inherited)
7. Christy Walton -- $15.7 Billion -- (Inherited)
8. S. Robson Walton -- $15.6 Billion -- (Inherited)
9. Alice Walton -- $15.5 Billion -- (Inherited)
10. Helen Walton -- $15.4 Billion -- (Inherited)

The first five were studied because the second five inherited theirs.

Go to a University, then Dropout.

True for those of little worth,
but for those of great worth,
none of your studies apply.

Go to a University, then Dropout.

True for those of little worth?

Dropping out is not sufficient. You need a lot of things to succeed - ambition, tenacity, work ethic.

Your "advice" is incomplete at best. How much money does the average college dropout earn? Dropping out is like playing the lottery. You know what they say about the lottery - it's a tax on people who are bad at math.

The top four college dropouts have earned an average of $27.1 Billion

$51.0 Billion
$22.5 Billion
$18.0 Billion
$17.0 Billion
-------------
average of $27.1 Billion

Do universities take back college degrees?

Garry wrote:
"DA Morgan has failed to realise that, in the real world, an individual's real worth is gauged by the amount of money they have accumulated."

Failed to realize it? I don't think so. I know a lot of very wealthy people that are worthless.

If you truly believe what you wrote it is very sad. I'd suggest you start on antidepressants now.

I don't take drugs, never have. Do you, have you?
Just wondering, you sure do talk about them alot.

Do universities take back college degrees?

The chances of a person succeeding without a college degree are pretty slim, unless the person has other qualifications - like drive.

I'm not saying your formula doesn't work. I'm saying it's not a good general policy. There are hundreds of thousands of college dropouts. I'll be the vast, VAST majority of them don't make anywhere near what I make, for example.

Many thanks for your input TheFallibleFiend.

It is too late for a guy like me to have the odds for financial success on his side. None of the five universities I attended take back college degrees.

The odds are against me to succeed, but Warren Buffett (the only 'self made' having a college degree) did beat the odds, save for his down trend.

There is hope, just not likely.

Furthering education and increasing bank roll are two volatile ingredients that should be mixed cautiously. Money? Take or leave it. Is there ever enough? The essence of education is far more important. College exists to "further education." Implying that those willing to learn will take education further than it currently is.

There is hope - if the person has drive, and generally, if they are educated despite their lack of schooling.

We could say that Ben Franklin, Bill Gates, Dean Kamen, Ken Olsen, etc. are not well-schooled - but who in their right mind would say these guys are not well-educated? (Bill Gates' father was/is a high power lawyer. He probably picked more up in dinner conversation with his parents than most kids pick up in 4 years of college English.)

This discussion is statistical nonsense.

And how many dropped out?

What percentage of college dropouts are billionaires? millionaires? saying "Do you want fries with that?"

Gates hardly counts anyway. He would have been wealthy if he had done nothing after being born but continue breathing air.

"Gates hardly counts anyway. He would have been wealthy if he had done nothing after being born but continue breathing air."

That's quite true. But there's more to the story. He saw an opportunity and seized it - although he would have been wealthy through inheritance, he is far wealthier now than he might have been had he done nothing.

I also had the opportunity to quit school and become a millionaire. I'm sure my wife would be very happy - until she realized that I likely would not have met her had I capitalized on that opportunity.

I think all the cases Gary points out are interesting and worthy of further study; however, I'm pretty sure that they don't support his general case.