Are you measuring the value of an MBA by the odds of becoming a billionaire (or even >$100M)? People achieve that level of success without regards to their education. Hard work, luck, tenacity, luck and connections are more important. I considered getting an MBA from a top 10 school. Basically, it offers the easiest path and best odds of earning $200+K/year and more flexibility in terms of careers (tech management, consulting, banking, etc.). Being a lawyer is grueling and boring, a doctor is grueling and takes a long time, and a tech entrepreneur is a crap shoot. I ended up in the tech path because I enjoy it and I don't care too much about money.
"Are you measuring the value of an MBA by the odds of becoming a billionaire (or even >$100M)?"
I admit that it's a quick-and-dirty metric, but that applies to PG's argument as well as mine.
"People achieve that level of success without regards to their education."
Some do, but the point is that education helps. Consider this list:
"One of the best ways to become a self-made billionaire is to attend an Ivy League school. 16 of the 52 self-made billionaires have Ivy League educations:
Warren Buffett, Columbia
Bill Gates, Havard
Carl Ichan, Princeton
John Werner Kluge, Columbia
Edward Crosby Johnson, III, Harvard
Sumner Redstone (Viacom), Harvard
Charles Bartlett Johnson, Yale
Edward Lampert, Yale
Steve Ballmer, Harvard
Geroge B. Kaiser, Harvard
Leonard Blavatnik, Columbia, Harvard
Ronald Owen Perelman, Penn
Michael Bloomberg, Havard
Stephen Schwarzman, Yale, Harvard
Eric Schmidt (Google), Princeton
Jeff Bezos, Princeton
An additional six billionaires have near-Ivy quality education:
Sergey Brin, Stanford
Larry Page, Stanford
Philip H Knight, Stanford
Charles Schwab, Stanford
George Soros, London School of Economics
James H Simons, MIT
The conclusion is clear. If you want to become a self-made billionaire, get the most prestigious educational credentials.
The best degree to get is an MBA. The following nine self-made billionaires have MBAs, and it's worth noting that eight out of the nine have an MBA from one of the nation's top three business schools: Harvard, Wharton, and Stanford.
Steve Ballmer, Harvard, Stanford MBA
Geroge B. Kaiser, Harvard, Harvard MBA
Philip H Knight, Stanford MBA
Charles Egen (Echostar), Wake Forest University MBA
Leonard Blavatnik, Columbia, Havard MBA
Ronald Owen Perelman, Penn, Wharton MBA
Michael Bloomberg, Havard MBA
Charles Schwab, Stanford MBA
Stephen Schwarzman, Yale, Harvard MBA"