10 Successful CEOs who were College Dropouts
Our parents would always tell us: “Treasure your education because that is your stepping stone to success.”
This advice is probably is true for most of us, but for these 10 popular and highly successful Chief Executive Officers (CEOs) of their own companies, a college degree was not a necessity. These school dropouts proved that anyone can be rich and be successful without having to graduate from a university.
This is not to say, though, that education is useless. What these people only confirmed is that a college degree is not a primary ingredient to achieve success. Looking at their life stories, these successful dropouts had a vision and worked hard to reach their goals. Those things prove to be more important than a college degree.
Top 10 Successful CEOs who Did Not Finish College
1. Bill Gates
Rank in Forbes Magazine’s list of World’s Richest People: #1 in 2017
Estimated Net Worth: $87 billion
Company: Microsoft (USA)
Bill Gates scored an almost-perfect 1590 (out of 1600) on the SAT and enrolled at Harvard College in 1973.
But he did not have a definite study plan while he was studying at Harvard and spent a lot of his time using the school’s computers. In 1975, the MITS Altair 8800 computer was released to the market, paving the way for the start of the microcomputer revolution. Gates and friend Paul Allen saw this as an opportunity to start their own software company. They dropped out of Harvard and formed “Micro-Soft.”
A year later, the hyphen in the company name was dropped and the rest was history.
2. Amancio Ortega
Rank in Forbes Magazine’s list of World’s Richest People: #4 in 2017
Estimated Net Worth: $71.3 billion
Company: Inditex Group, Zara
Son of a railway worker, Amancio Ortega actually never got to go to college because he did not finish high school.
He worked as an errand boy for various shirt stores before opening his first store in 1975. The company would ultimately become the Inditex Group, currently one of the world’s largest fashion distributors, operating under several brand names including Zara, Massimo Dutti and Stradivarius. With a net worth of $25 billion, Ortega is Spain’s richest man.
3. Mark Zuckerberg
Rank in Forbes Magazine’s list of World’s Richest People: #5 in 2017
Estimated Net Worth: $56 billion
Mark Zuckerberg has always enjoyed developing computer programs, especially communication tools and games. In 1996, he built a software program he called “ZuckNet” which allowed all the computers between the house and his father’s dental office to communicate by pinging each other. The program was considered a “primitive” version of AOL’s Instant Messenger, which came out the following year.
He studied psychology and computer science at Harvard University but decided to drop out when his Facebook website grew in popularity. Zuckerberg was recognized by Time magazine as its “Person of the Year” in 2010.
4. Mukesh Ambani
Rank in Forbes Magazine’s list of World’s Richest People: #33
Estimated Net Worth: $23.2 billion
Company: Reliance Industries (India)
Mukesh is the eldest son of Dhirubhai Ambani, the founder of Reliance Industries, India’s most valuable company.
Mukesh enrolled in the MBA program of Stanford University in 1979 but with 1 and 1/2 years to go before the end of the program, he decided to drop out and focus on the polyester business of Reliance Industries.
He is currently the Chairman and Managing Director of the company.
5. Larry Ellison
Rank in Forbes Magazine’s list of World’s Richest People: #7
Estimated Net Worth: $52.2 billion
Company: Oracle (USA)
Larry Ellison attended the University of Illinois at Urbana-Champaign but dropped out at the end of his second year after his adoptive mother died. He moved to California and studied at the University of Chicago but stayed there for only one term. He became an employee of Ampex Corporation where he worked on a database project for the Central Intelligence Agency (CIA), codenamed “Oracle.”
In 1977 he founded Oracle and started marketing its now-flagship product Oracle Database. By 2007, thirty years later, Oracle is the third largest software company in the world, next to Microsoft and IBM.
6. Eike Batista
Rank in Forbes Magazine’s list of World’s Richest People: #8 (2010)
Estimated Net Worth: $27.0 billion
Company: EBX group (Brazil)
Eike Batista lived in Germany from 1969 to 1980 and studied engineering there at RWTH Aachen University. He dropped out of college without completing his degree.
In 1980, he moved back to Brazil and in 1983, founded the EBX Group, a holding company primarily invested in mining, oil and natural gas. In 2010, he is the richest person in Brazil and the eighth richest worldwide.
7. Michael Dell
Rank in Forbes Magazine’s list of World’s Richest People: #38
Estimated Net Worth: $20.4 billion
Company: Dell Inc.
At a young age, Michael Dell is already an entrepreneur. At the age of 15, he earned $18,000 selling subscriptions of the newspaper Houston Post. While a pre-med student at the University of Texas Austin, he started an informal business upgrading computers.
He dropped out of college to concentrate on his company, “Dell Computer Corporation,” whose business model was to sell PCs directly to customers rather than indirect retail channels.
In 1992 at the age of 27, Dell became the youngest CEO to have his company ranked in the Fortune 500 list of the top corporations.
8. Steve Jobs
Rank in Forbes Magazine’s list of World’s Richest People: #136 (2010)
Estimated Net Worth: $5.5 billion
Company: Apple Inc.
Apple Inc. founder and CEO Steve Jobs completed high school in Cupertino, California then enrolled at Reed College in Portland, Oregon to study physics, literature and poetry. He dropped out after only one term.
In 1976, at the age of 21, he and Steve Wozniak started their own business, the Apple Computer Company. The company became so successful such that by the age of 25, Jobs was already worth $165 million.
After being fired from Apple in 1985 and re-hired in 1996, he became Apple Inc. Chairman and CEO until his death in 2011.
9. Ralph Lauren
Rank in Forbes Magazine’s list of World’s Richest People: #281
Estimated Net Worth: $5.5 billion
Company: Polo Ralph Lauren
Ralph Lauren attended MTA (now known as the Marsha Stern Talmudical Academy) before eventually graduating from DeWitt Clinton High School in 1957. In MTA Lauren was known by his classmates for selling ties to fellow students.
After high school, he went to the Baruch School of Business and Civic Administration of the City College of New York (now known as Baruch College) where he studied business, although he dropped out after two years.
He did not attend fashion school, but worked for Brooks Brothers as a salesman. In 1967, with the financial backing of Norman Hilton, Lauren opened a necktie store where he also sold ties of his own design, under the label “Polo.”
10. Richard Branson
Rank in Forbes Magazine’s list of World’s Richest People: #324
Estimated Net Worth: $5.0 billion
Company: Virgin Group
Sir Richard Branson is known for his Virgin Group of Companies which is comprised of more than 400 firms. His first successful business venture was a magazine called Student, which he published and distributed at the age of 16.
In 1972, he opened a chain of record stores, Virgin Records, later known as Virgin Megastores. The Virgin brand grew rapidly during the 1980’s as he set up Virgin Atlantic Airways and expanded the Virgin Records music label.
Branson suffered from dyslexia and due to poor academic performance as a student, he did not finish high school.
Sources: Forbes Magazine, Wikipedia, various online sources
(Another interesting article: 10 Celebrities who Graduated from Harvard and Yale University)
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