Intro
Many successful entrepreneurs and business people do not have a high school diploma. Some of the richest people in the world decided that finishing high school was not necessary for them to achieve success. This article will explore who the richest high school dropouts are, how they made their fortunes without a high school diploma, and what lessons can be learned from their success stories.
Who are some of the richest high school dropouts?
Here are some of the wealthiest and most successful people who never graduated from high school:
- Mark Zuckerberg – Net worth $97 billion. Dropped out of Harvard University. Co-founder and CEO of Facebook.
- Bill Gates – Net worth $129 billion. Dropped out of Harvard University. Co-founder of Microsoft.
- Sir Richard Branson – Net worth $4.4 billion. Founder of Virgin Group.
- Michael Dell – Net worth $60 billion. Dropped out of University of Texas. Founder and CEO of Dell Technologies.
- Larry Ellison – Net worth $106 billion. Dropped out of University of Illinois and University of Chicago. Co-founder, Chairman and CTO of Oracle Corporation.
- Barry Diller – Net worth $4 billion. Chairman and Senior Executive of IAC and Expedia Group.
- Ted Turner – Net worth $2.3 billion. Founder of CNN.
- David Karp – Net worth $200 million. Creator of Tumblr.
- Aretha Franklin – Net worth $80 million. “Queen of Soul” singer.
- Quentin Tarantino – Net worth $120 million. Academy Award winning film director and screenwriter.
As you can see, some of the wealthiest and most influential entrepreneurs did not let a lack of high school diploma hold them back. Many technology innovators like Bill Gates, Mark Zuckerberg and Larry Ellison dropped out of college to focus full-time on growing their businesses. Others like Richard Branson and Ted Turner had a strong entrepreneurial drive and decided skipping college was the fastest route to business success.
How did these high school dropouts become so successful and rich?
Despite not having a high school diploma, these individuals were able to rise to the top and build incredibly profitable companies due to some common traits:
- Strong vision and belief in themselves – They had bold ideas they wanted to pursue and did not let lack of credentials undermine their confidence.
- Willingness to take risks – They were not afraid to gamble on starting their own untested businesses fresh out of high school.
- Strong work ethic – They poured thousands of hours into executing on their business ideas with relentless drive and determination.
- Natural intelligence and talent – While formal education was unnecessary, they had innate abilities in technology, business strategy, salesmanship, etc.
- Ability to attract investment and talent – Their bold visions attracted early employees and investors despite lack of experience.
- Opportunistic timing – Some like Bill Gates emerged at a time when the technology industry was rapidly evolving with new frontiers to seize.
Rather than let schooling get in the way, these individuals focused single-mindedly on building their companies and honing their talents. Once their businesses gained steam, they could attract talent and financing to complement their weaknesses. Their innate abilities and unrelenting drive overcame any limitations from lack of formal education.
Lessons to learn from these successful dropouts
While dropping out of high school worked for the people mentioned earlier, it has risks and should not be undertaken lightly. However, there are positive lessons to learn from their success stories:
- Don’t let lack of credentials undermine your confidence – Believe in yourself if you have a great business idea.
- Be willing to think big and take risks – The biggest business successes require bold gambles.
- Build your skills through real world experience – Learn by doing.
- Surround yourself with smart people – Talented employees and advisors can complement your weaknesses.
- Work tirelessly – Outwork and outlearn your competition.
- Seize new opportunities when they arise – Timing and luck play a role too.
You do not need to be a Harvard graduate to become a wildly successful entrepreneur. With belief in yourself, willingness to take risks, tireless determination and seizing the right moment, massive success is possible without formal credentials. Use the stories of famous high school dropouts as inspiration.
Other notable successful high school dropouts
Here are some other billionaires and highly successful people who did not finish high school and what they are known for:
| Name | Net Worth | Claim to Fame |
|---|---|---|
| Jack Dorsey | $11.8 billion | Co-founder of Twitter and Square |
| Sheldon Adelson | $38.8 billion (at time of death) | Las Vegas Sands casino magnate |
| Rachael Ray | $100 million | Celebrity chef and talk show host |
| Simon Cowell | $600 million | Music and TV producer |
| Kevin Rose | $100 million | Co-founder of Digg |
| Philip Green | $3.5 billion | Chairman of Arcadia Group |
| Tyler Perry | $1 billion | Actor, producer and director |
| Daniel Ek | $3.6 billion | Co-founder and CEO of Spotify |
| Peter Jackson | $500 million | Film director |
| Francis Ford Coppola | $300 million | Film director |
This list demonstrates that many types of professionals like actors, musicians, entrepreneurs and business leaders can achieve wild success without needing to finish high school. Clearly the lack of a diploma did not hamper their abilities to thrive.
Highest school grade completed by the Top 10 richest billionaires
Looking at the current Top 10 richest people in the world according to Forbes, here is a breakdown of the highest school grade each completed before dropping out:
| Name | Net Worth | Highest Grade Completed |
|---|---|---|
| Elon Musk | $209 billion | Completed freshman year at Queen’s University (2nd year college) |
| Jeff Bezos | $171 billion | Completed sophomore year at Princeton University (3rd year college) |
| Bernard Arnault | $158 billion | Completed high school |
| Bill Gates | $129 billion | Dropped out of Harvard sophomore year (2nd year college) |
| Warren Buffett | $118 billion | Completed Master’s degree at Columbia Business School |
| Larry Ellison | $106 billion | Dropped out of University of Illinois and University of Chicago (in college) |
| Larry Page | $99.5 billion | Dropped out of Stanford PhD program (in graduate school) |
| Sergey Brin | $95 billion | Dropped out of Stanford PhD program (in graduate school) |
| Steve Ballmer | $91.8 billion | Graduated from Harvard with a Bachelor’s degree |
| Mukesh Ambani | $90.7 billion | Dropped out of Stanford MBA program (in graduate school) |
Interestingly, half of the Top 10 richest people in the world did not complete their college degrees. Elon Musk, Bill Gates and Larry Ellison dropped out of college at different stages. Larry Page, Sergey Brin and Mukesh Ambani dropped out of PhD or MBA programs in graduate school. This further demonstrates that even at the highest levels of wealth, a university diploma is clearly not a prerequisite for massive business success.
Statistical analysis of billionaires without degrees
According to various statistical research reports, here are some key facts about billionaires without college degrees:
- Around 20% of billionaires globally do not have college degrees
- In the technology industry, around 35% of billionaires are college dropouts
- The average net worth of a billionaire college dropout is higher at $11 billion versus $7 billion for those with degrees
- College dropout billionaires tend to be younger, having made their fortune early without needing to complete college
So while most billionaires do have college educations, a sizable portion lack degrees. Tech billionaires in particular have a very high college dropout rate. Those who skip finishing college appear to amass higher peak net worths from their companies. The young age of many dropout billionaires suggests timing and opportunity enabled them to seize on rapid growth industries before completing school.
Case studies of famous billionaire dropouts
Let’s take a deeper look at a couple billionaire high school and college dropouts to understand their paths to success better.
Mark Zuckerberg
In his sophomore year at Harvard University in 2004, a 19 year old Mark Zuckerberg dropped out to work full-time on a new social networking website he had launched called TheFacebook. He believed in the site’s potential strongly enough that leaving higher education early was an easy decision.
The following year, the company received $500,000 in funding from investor Peter Thiel and was renamed Facebook. Zuckerberg decided to turn down acquisition offers from MTV, Viacom and Yahoo. Facebook continued growing rapidly among college students. By the end of 2004, Facebook had over 1 million users.
In 2012, Facebook did an IPO at a valuation of over $100 billion. Mark Zuckerberg’s net worth passed $1 billion in 2007 when he was just 23 years old, making him the world’s youngest self-made billionaire. He has appeared on Time Magazine’s list of most influential people in the world multiple times.
Zuckerberg stands today with a personal fortune of $97 billion at the age of 38. By believing strongly in his product vision and being willing to take risks, he built one of the largest technology companies and personal fortunes in history without needing a college degree.
Michael Dell
Michael Dell had an entrepreneurial drive from an early age. At 15, he bought his first calculator and disassembled it to understand how it was built. In high school, he invested early earnings from part-time jobs into stocks and precious metals.
At the University of Texas, Dell started a computer company called PC’s Limited in his freshman dorm room. He soon dropped out at 19 to run the business full-time. The company sold build-to-order personal computers. Dell focused intently on keeping inventory low while parts were cheaply assembled after orders were placed.
The business scaled rapidly. In 1987, at age 23, Dell became the youngest CEO to have his company ranked in Fortune 500 list. In 1988, his company had grown to over $80 million in annual sales. Dell opted to change the company’s name to Dell Computer Corporation.
By focusing ruthlessly on the direct-to-consumer build-on-order business model and highly efficient manufacturing, Dell Computers continued its meteoric rise. It became one of the largest PC sellers worldwide. At age 27, Michael Dell became the youngest CEO to lead a Fortune 500 company.
In 2003, Forbes ranked Michael Dell the 10th richest person in the world, worth over $18 billion. Dell stepped down as CEO in 2004 but returned in 2007 to revitalize the company. His net worth today is estimated at $60 billion. Dell proved that with the right business model and strategy, a college education was not needed to become wildly successful in computers.
Conclusion
In summary, many famous billionaires and entrepreneurs did not need to complete high school or college in order to build incredibly successful companies. While formal education is undoubtedly valuable for the knowledge gained, it is clearly not a requirement for massive success in business and finance. Vision, risk-taking, determination and talent matter more.
Mark Zuckerberg, Michael Dell, Bill Gates and other famous dropouts demonstrated that wildly successful companies can be built by following a bold vision with relentless drive. Focusing their efforts early on their startups rather than on finishing school gave them timing and execution advantages.
Rather than be intimidated by lack of education, these stories should provide inspiration. Success requires boldness to seize opportunities when they arise. The right idea, abilities, people and timing are ultimately what enable someone to rise to the top. With the right combination, the richest people in the world can be high school or even middle school dropouts.