US schools dominate the rankings, followed by those in the UK. Expanding to the top 50, the list becomes more diverse, with schools from Israel, Australia, France, Canada, Mexico, Italy, and Singapore all counted among that number.
Since the US is home to more millionaires than any other nation, it's not a surprise to see Ivy League schools dominate the list, said Oliver Williams, head of WealthInsight, in the report. But US universities also graduate more foreign millionaires than any other country, he noted.
"With some of the world's best institutions making up the top millionaire making universities, it is evident that education is an essential step to becoming a millionaire," Williams said in the report. "However, it is outside the classroom where the next millionaires will be found: Entrepreneurial ideas are nurtured on campuses where recruiters from the world's leading corporations can be found scouting for the brightest minds."
This list does not include the 1.3% of millionaire alumni who dropped out of their universities to pursue entrepreneurial goals, Williams said in the report. "The likes of Mark Zuckerberg and Bill Gates famously abandoned Harvard - which produces more millionaires than any other university - to pursue billion dollar businesses," he added.
Here are the top 10 millionaire-making universities.
1. Harvard University
Harvard's history, influence, and wealth have made it one of the world's most prestigious universities. It has a top-ranked business school, medical school, and school of engineering and applied sciences.
2. Stanford University
Stanford's most popular majors include engineering, computer and information sciences, and biological and biomedical sciences, according to US News & World Report. The school's campus, located in California's Bay Area, and its reputation for excellence has helped make the school a prime place for tech companies to find new employees.
3. University of Pennsylvania
The University of Pennsylvania graduates many students in finance, economics, and biological sciences. The school also has highly ranked graduate programs in business and engineering.
4. Columbia University
Located in New York City, Columbia University includes three undergraduate schools as well as a number of highly-ranked graduate and professional schools. The most popular undergraduate majors at Columbia include engineering, social sciences, and biological and biomedical sciences.
5. Oxford University
Oxford University in the UK is both the oldest university in the English-speaking world, and the world's second-oldest university in continuous operation. The school includes five academic divisions, all of which perform research: Humanities, mathematical, physical and life sciences, medical sciences, and social sciences.
6. Massachusetts Institute of Technology (MIT)
The Massachusetts Institute of Technology (MIT) specializes in science and technology disciplines, with many graduates going on to careers in the tech industry. The institution's largest school by enrollment is the School of Engineering, followed by the School of Science and the Sloan School of Management.
7. New York University
Located in New York City, New York University's most popular majors include visual and performing arts, social sciences, business, management, and marketing.
8. Cambridge University
Following Oxford University, Cambridge University is the second-oldest university in the English-speaking world and the world's third-oldest university in operation. Cambridge includes six schools: Arts and humanities, biological sciences, clinical medicine, humanities and social sciences, physical sciences, and technology.
9. Northwestern University
Located in Illinois, Northwestern University's most popular majors include economics, psychology, political science, and biology. Northwestern also features several highly-ranked graduate schools, including those in management, law, and engineering.
10. University of Chicago
The University of Chicago's most popular majors include economics, biological and biomedical sciences, mathematics and statistics, and public policy analysis. Beyond the arts and sciences, the university is known for its professional schools, including its business and medical schools. (Author: Alison DeNisco)
