Two foreign universities made the top-ten list: India's University of Mumbai was ranked ninth with 12 billionaire alumni, beating the Massachusetts Institute of Technology, and the London School of Economic and Political Science took the tenth spot. Oxford and Cambridge, two of the U.K.'s most noted institutions, were not featured on the list.
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The Lomonosov Moscow State University in Russia and Switzerland's ETH Zurich were the only other non-American schools on the list.
According to the study, more than a quarter of the billionaires who obtained their degrees in American universities on the list were born outside of the United States.
Wealth-X and UBS note that higher education is not a prerequisite to achieving billionaire status with over 30 percent of global billionaires missing a tertiary-level degree, including famed university dropouts Microsoft co-founder Bill Gates and Facebook's Mark Zuckerberg.
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Last month, Wealth-X reported that the global billionaire population hit a record high of 2,325 billionaires this year, a 7 percent rise from 2013.