Some of the world's famous billionaire dropouts

Michael Dell

Michael Dell enrolled as a biology major at University of Texas, but spent more time fiddling with stacks of computer parts in his dorm room than hitting up the library. Instead of studying, he started selling new computers through advertisements in local papers. It was a lucrative distraction. By the end of his freshman year, Dell was selling about US$80,000 a month in computers. With the money rolling in, Dell decided not to return to school. He dropped out of college at age 19 to run the company that would become Dell Inc. (NASDAQ: DELL). Within the next few years, Dell's annual sales passed US$100-million.  Dell's estimated net worth is pegged around US$16-billion.

There are several other billionaires in the United States, like Dell, dropped out of some stage of schooling. Those others are like Dell in another way too: They didn't drop out to watch daytime television on the couch. But they left school to work hard. Dell explained his attitude to University of Texas graduates at a 2003 commencement address: "Circle the pitfalls and highlight the opportunities. Then build a vision of how it could all be better and work like hell to make it happen." 

Sheldon Adelson

Sheldon Adelson is another billionaire lacking a degree but possessing plenty of hustle. Adelson enrolled at City College of New York, but didn't finish, probably because he was too busy with other ventures. When he was 12 years old, Adelson borrowed US$200 from his uncle to start selling newspapers. He dropped out of college to become a court reporter. He also worked as an advertising salesman, a consultant, and a tour-business operator. That relentless drive led him to his first big windfall. He organized the computer industry trade show COMDEX and made handsome profits leasing out exhibition space. He's since jumped into casinos, where he's been adding to his fortune ever since. He bought Sands Hotel & Casino for US$128-million, demolished it to build the US$1.5-billion all-suites Venetian Resort Hotel Casino and the 1.2-million square-foot Sands Convention Center. His estimated current net worth is pegged at over US$25-billion.

Richard Branson

Some billionaires didn't even make it as far as Adelson in school. Richard Branson, who had dyslexia, was a lousy student. He dropped out at age 16 to start a magazine. To fund the publication, he also started a mail-order record business; the venture grew into Virgin Records. He took a risk by signing a raucous band called the Sex Pistols, which had already been cut from two other labels. Other hit acts followed, including Boy George and Peter Gabriel. Plenty of other companies have followed as well. He's since expanded into airlines, health insurance, and medical care. His latest company is Virgin Galactic, which is traveling tourists beyond the Earth's atmosphere. But don't get the idea from these billionaire dropouts that school is worthless. Even the world's most famous dropout, Bill Gates, acknowledges the importance of a good education. 

Bill Gates and Paul Allen

William "Bill" Gates left Harvard during his junior year to work on a little company he'd started called Microsoft (NASDAQ: MSFT). He testified before the U.S. Congress a few years back on the importance of improving the U.S. education system. "Too many of our students fail to graduate from high school with the basic skills they will need to succeed in the 21st-century economy, much less prepared for the rigors of college and career," said Gates. 

Microsoft co-founder, Paul Allen has a net worth of about US$18-billion. Dropped out of Washington State University, he may be one of most hopeful tech investors ever. Spent eight years at company he started in 1975 with Bill Gates -- and a few decades after quitting, it still provides a quarter of his net worth. Lost huge sums on far-off visions, including Interval Research Group (tiny solar-powered, wearable computers; shuttered in 2000). Still has fun: rock 'n' roll museum in Seattle, basketball's Portland Trail Blazers, football's Seattle Seahawks, 413-foot yacht. Attended prestigious Lakeside School with Gates in Seattle. 

Li Ka-shing

On the other hand, Li Ka-shing, whose net worth is estimated at US$25-billion, dropped out of school at age 12. Once a poor immigrant, Li got his by started selling plastic flowers in Hong Kong in the 1950s. Now one of Hong Kong's richest persons, he is the world's largest operator of container terminals, world's largest health and beauty retailer, a major supplier of electricity to Hong Kong, and a real estate developer. He has announced plans to donate one-third of wealth over time. Eldest son Victor helps him run his massive empire; son Richard struck out on his own in early 1990s and is a billionaire of his own right. 

Larry Ellison

Another dropped out billionaire is Larry Ellison with estimated net worth of US$22-billion. He dropped out of University of Illinois in Chicago. He started Oracle in 1977. Took public in 1986, one day before Microsoft. Companies have been fiercely competitive since. Side bet, he invested US$125-million in Web software outfit NetSuite. Despite his richness, he is still yearning to win yachting's most prestigious trophy, the America's Cup. He also owns 453-foot Rising Sun; building a smaller leisure boat because mega yacht is hard to park. 

Roman Abramovich

Roman Abramovich, meanwhile, also college dropout, made a fortune in a series of controversial oil export deals in early 1990s. His fortune took off in 1995 when he teamed up with Boris Berezovsky (now also a billionaire) to take over oil giant Sibneft at a fraction of its market value. He spent some of his cash buying U.K. soccer club Chelsea. His estimated net worth is US$22-billion.

Amancio Ortega

Amancio Ortega, net worth is about US$20-billion, left school at age 14. With help from then-wife Rosalia Mera, got start making dressing gowns and lingerie in their living room 45 years ago. He became one of world's most successful apparel manufacturers. His Inditex Group now has about 4,000 stores in 70 countries. Ortega is chairman. Owns a horse-jumping circuit and part of a soccer league. 

Francois Pinault

Francois Pinault and his family have an estimated net worth of US$16-billion, He dropped out of high school. He is a majority shareholder of luxury goods group PPR (formerly Pinault-Printemps-Redoute), whose brands include Gucci, Balenciaga, and Stella McCartney. He also owns more affordable catalog brands Lerner and Chadwick's. Likewise, he also owns auction house Christie's. His personal art collection is now showcased in Venice in the Palazzo Grassi. Was awarded the French Legion d'honneur about a few years back.

 

Jack Taylor

Jack Taylor and his family have net worth of over US$12-billion. Taylor dropped out of Washington University. He left the school to serve in the Navy; became fighter pilot on U.S.S. Enterprise during World War II. Sold cars after war, became sales manager for St. Louis Cadillac distributor. Backed by boss, took 50 percent pay cut to start own car-leasing business; offered rentals as temporary replacements for stolen, wrecked cars. Business boomed in 1970s after courts made insurance companies pay for replacement rentals. Nowadays, Enterprise Rent-A-Car sales exceed US$10-billion. 

Gautam Adani

Overseas in India, Gautam Adani, a college dropout who made his money building Mundra Port, a private sector port on India’s west coast, was one of the richest in Asia with a personal fortune of about US$9-billion.

Here in the Philippines, we also have our wealthy college dropouts. 

Danding Cojuangco

Eduardo "Danding" Cojuangco Jr., chairman of the San Miguel Corporation, is a man Filipinos admire -- and loathe. His food and drinks empire cuts a wide swath from Southeast Asia and China all the way to Australia. Its flagship product, San Miguel Beer (SMB), commands more than 90 percent of the Philippine beer market, and the company says it is one of Asia's top brands. Cojuangco's prowess in maneuvering San Miguel into the largest publicly listed food, beverage, and packaging company in the Philippines -- and to keep it rolling in profit -- often generates awe among the country's business elite. While streamlining operations to focus on core businesses, he has pursued an ambitious expansion since he took over in 1998, spreading to Thailand, Malaysia, Indonesia, Singapore, Vietnam, China, and Australia. Currently, the San Miguel group is diversifying and expanding into infrastructure, mining, and utilities businesses. Cojuangco is a De La Salle dropout. His San Miguel empire worth a few billion U.S. dollars.

Lucio Tan

Cojuangco's counterpart and perceived by many as his fiercest business rival, Lucio Tan, owns SMB's lone market competitor Asia Brewery Inc., which produced Beer na Beer and Manila Beer. Tan also owns Fortune Tobacco, Philippine Airlines, Philippine National Bank, Allied Bank, Eton Realty, among many others. This Chinoy's empire is also worth a few billion U.S. dollars. Tan is a drop out of University of the East. That's why he bought the school!