The University of Nottingham is amongst the top ten universities in the UK that have produced multi-millionaires.
A recent report, compiled by Wealth-X, has placed Nottingham eighth in a list of twenty universities that boast alumni with a net worth of at least £20 million, taking into account earnings, assets and properties.
A total of 2318 alumni were used in the report, with the 92 Nottingham graduates averaging their fortune to £22 million.
Oxford headed the list, with 401 graduates worth more than £20 million, with Cambridge coming second with 361. Other prestigious institutions made appearances, such as the London School of Economics, Imperial College London and the University of Manchester.
Nottingham’s notable alumni include Dr Stewart Adams OBE; the creator of the popular painkiller ibuprofen, Dato Seri Najib Razak; the Prime Minister of Malaysia, Sir John Sawers; the head of the British intelligence agency MI6 and Sir Andrew Witty, the CEO of GlaxoSmithKline and recently instated Chancellor of the University.
Tim Martin also featured on the list, who, after studying Law at Nottingham, went on to found the British pub chain Wetherspoons, who now have over 800 pubs in the UK and turnover in excess of £1billion. Martin is speculated to be worth around £750 million.
Sir Andrew Witty, who graduated with a BA in Economics from Nottingham, worked his way up through the pharmaceutical giant GlaxoSmithKline, achieving the position of CEO. Since graduation, Witty has always kept strong ties with the University and in 2013 was appointed as the 7th Chancellor. It is reported that his total compensation from GSK is £6.7 million.
Najib Razak studied Industrial Economics at Nottingham before returning to Malaysia to take up various jobs within the Malaysian government, such as Minister of Defence and Minister of Finance. Following his father’s death, he took up his vacant seat in parliament at the young age of 23. Razak went on to become Prime Minister in April 2009. His net worth is in the region of £93 million.
Sir John Sawers is a prominent diplomat and civil servant, who has served as the British Representative to the United Nations, and is the current head of the intelligent agency M16. Sawers studied Physics and Philosophy during his time at Nottingham and after graduation worked in various countries for the government until he was appointed head of the secret intelligence service. Currently, Sawers salary is just under £170,000.
The European director of sales for Wealth-X, Mike Byrne, commented on the appearance of 17 out of the 24 Russell Group universities, who are renowned for world class research quality, within the list. Byrne commended the academic excellence of the Russell Group, “which reflects the ability of such prestigious institutions to attract high calibre individuals, who proceed to create financial success”.