College isn't the only path to success.
In fact, nearly a third (30%) of today's billionaires don't have a bachelor's degree.
Research by Steve Siebold, who spent three decades studying over 1,200 of the world's wealthiest people, parallels Wealth-X's findings.
"Many world-class performers have little formal education, and have amassed their wealth through the acquisition and subsequent sale of specific knowledge," he writes in his book, "How Rich People Think. "
On the flip side, "the masses are convinced that master's degrees and doctorates are the way to wealth," Siebold notes.
According to Wealth-X, only 22% of today's billionaires have a master's degree; 13% have an MBA and 10% have a Ph.D.; even fewer have a law degree (3%) or a degree in medicine (1%).
While the road to riches can be paved with higher education and the majority of billionaires do have their bachelor's, it's not necessarily a requirement. What's most important is continually finding ways to further your learning, long after completing any formal education.
"Formal education will make you a living," Siebold says. "Self-education will make you a fortune. Decide today to become a lifelong student and take control of your own self-education."
After all, there's a reason so many successful and wealthy people are voracious readers. Take Warren Buffett, who estimates that 80% of his working day is dedicated to reading, or Bill Gates, who reads about 50 books a year.
"Walk into a wealthy person's home and one of the first things you'll see is an extensive library of books they've used to educate themselves on how to become more successful," Siebold writes.