Best Fraternities For Future CEOs

Opie25 · #1 01-31-2003, 04:18 PM

http://www.forbes.com/2003/01/31/cx_dd_0131frat.html

Management
Best Fraternities For Future CEOs
Davide Dukcevich, 01.31.03, 12:00 PM ET

NEW YORK - Don't be surprised if you see your company directors
exchanging secret handshakes at the next board meeting. After all,
about a quarter of all chief executives on the Forbes Super 500 list
of America's largest corporations were members of college
fraternities.

Despite what movies such as Animal House suggest, fraternities and
sororities are more than just freshman rush and beer busts. The
social skills that help students gain admittance into the Greek
system are the same aptitudes that can later give them a leg-up in
corporate climbing. Plus, once they've graduated, they can tap into
the network of past fraternity brothers or sisters who litter all
tiers of corporate America.

Big Companies, Old School Ties
These are the ten-largest American companies with fraternity members
at the helm. Click on the CEO names for their profiles.

Forbes 500 Rank Company
CEO
Fraternity

1 Citigroup (nyse: C - news - people )
Sanford Weill
Alpha Epsilon Pi

4 American International Group (nyse: AIG - news - people )
Maurice Greenberg
Sigma Alpha Mu

12 J.P. Morgan Chase (nyse: JPM - news - people )
William B. Harrison Jr.
Zeta Psi

19 Goldman Sachs (nyse: GS - news - people )
Henry Paulson
Sigma Alpha Epsilon

21 Procter & Gamble (nyse: PG - news - people )
Alan Lafley
Psi Upsilon

24 Wachovia (nyse: WB - news - people )
G. Kennedy Thompson
Beta Theta Pi

25 Berkshire Hathaway (nyse: BRKa - news - people )
Warren Buffett
Alpha Sigma Phi

27 Home Depot (nyse: HD - news - people )
Robert Nardelli
Tau Kappa Epsilon

28 BellSouth (nyse: BLS - news - people )
F. Duane Ackerman
Lambda Chi Alpha

29 General Motors (nyse: GM - news - people )
G. Richard Wagoner
Delta Tau Delta

Data from The North-American Interfraternity Conference and Forbes

The numbers certainly seem to back this theory up. A mere 8.5% of
full-time university undergraduates are members of either a
fraternity or a sorority. Not only have fraternities been the
breeding ground of those 120 Forbes 500s chief executive officers,
they also have spawned 48% of all U.S. presidents, 42% of U.S.
senators, 30% of U.S. congressmen, and 40% of U.S. Supreme Court
justices, according to data from the The North-American
Interfraternity Conference.

Best Fraternities For Future CEOs

Fraternity Members Who Are Forbes 500s CEOs

Beta Theta Pi 11

Sigma Alpha Epsilon 9

Sigma Chi 9

Lambda Chi Alpha 8

Alpha Tau Omega 7

Wachovia CEO G. Kennedy Thompson said that Beta Theta Pi, which he
joined while an undergrad at the University of North Carolina, gave
him "the opportunity to meet people from different backgrounds and
places, and the connections have continued beyond my university years
to my business life."

He is also a member of the fraternity that produced the most CEOs
among the biggest 500 companies in the country. Beta Theta Pi can
boast of 11 such CEOs, Sigma Alpha Epsilon and Sigma Chi are tied in
second at nine, Lamba Chi Alpha has eight, and Alpha Tau Omega seven.

ZZ-kai- · #2 01-31-2003, 04:20 PM

Awesome article, and more importantly, its in a very popular magazine.

From the Beta Web Site:
~~~~~~~~~~~~~~~~~~~~~~~~~~~
Beta CEOs head Forbes 500 list
(Posted: 31-Jan-03)
Beta produces the most CEOs among the biggest 500 companies

Beta Theta Pi heads the list as "Best Fraternities for Future CEOs," according to Forbes 500. About a quarter of all chief executives on the Forbes Super 500 list of America's largest corporations were members of college fraternities.

Beta has produced the most CEOs among the biggest 500 companies in the country. The Fraternity can boast of 11 such CEOs

Wachovia CEO G. Kennedy Thompson, North Carolina ’73, said that Beta Theta Pi gave him "the opportunity to meet people from different backgrounds and places, and the connections have continued beyond my university years to my business life."

~~~~~~~~~~~~~~~~~~~~~~~

Go Greek!

AlphaSigOU · #3 01-31-2003, 04:46 PM

Still in the top 25... Brother Warren Buffett (Omicron (UPenn) '48)

UDZETA · #4 01-31-2003, 05:20 PM

What about the ladies?

JerzeeBoy26 · #5 01-31-2003, 06:55 PM

This list would have 12 betas had Enron not collapsed (brother Ken Lay). Not to mention that the Walton family who own Walmart and are the children of founder, brother Sam Walton. Both of these distinguished gentlemen were Mizzou Betas.

KEPike · #6 01-31-2003, 08:05 PM

Not sure that Beta wants to really play up the fact that Ken Lay was a Beta. Sure, he made alot of money, but probably not the most honest of gentlemen.

ZZ-kai- · #7 01-31-2003, 10:15 PM

Once a Beta, Always a Beta, Everywhere a Beta......I wouldn't turn my back on my fiance, nor will I on my Beta brother.

Quote:

Originally posted by KEPike
Not sure that Beta wants to really play up the fact that Ken Lay was a Beta. Sure, he made alot of money, but probably not the most honest of gentlemen.

Tom Earp · #8 01-31-2003, 10:34 PM

Well timed article!

But,, If got to the smaller people on teh block, there will be a whole lot of Grreeekkin Goin on!

I know the LXA Mag. shows the big shakers and movers everytime, I always ask, what about the others who do good and are smaller and shakers!

Well, like me! Smaller Business Owner!

Yep, We are the Mover and Shakers!

Just ask yourselves why!?

When you formulate your answer, what do you come up with??????

Well I guess, it is folks just like us!

JerzeeBoy26 · #9 01-31-2003, 11:44 PM

yeah Ken Lay certainly has had his ups and downs, and I don't argue that he is the most honest of men, but he has been a loyal beta since the day he pledged and so I have to give him his due for that

DHgirl · #10 01-31-2003, 11:52 PM

UDZETA--give us time, we're on our way. Maybe you and me

There's really a truth, though, in greeks being more active. Half of the organizations in my school seem to be heavily run by greeks--Most of the varsity athletic captains are greeks. Our professional societies' officer positions are chalk full of greeks. After spending college in an amazing network of support and vibrant and encouraging atmosphere gives you the feeling that you can go everywhere from there. That a "surprising" number of CEO's come from a greek 'background' is, in light of that, hardly surprising.

KEPike · #11 02-01-2003, 03:46 AM

Glad to hear you guys aren't turning your back on Ken Lay. It reminds me alot of when Pike Alum Dan Issel got fired from the head coaching job for the Denver Nuggets because of racial comments. Alot of guys I knew thought that he was just a racist and translated it into Pike as being racist.

Oh, and its Once a Pike...always a Pike!!!

hoosier · #12 02-01-2003, 02:56 PM

There's a poll on the Forbes site, How does fraternity membership help most?

http://www.forbes.com/home_asia/2003..._0131frat.html

KillarneyRose · #13 02-01-2003, 06:19 PM

Greeks have known this all along. It's nice it's finally being written about in a reputable publication, though.

#14 02-03-2003, 02:32 AM

Yah know, being in a fraternity, let alone which one, prepares one to be the leaders of society. Hell, 95% of the members of the House are brothers of a "secret society."

PSK480 · #15 02-04-2003, 07:58 PM

I know 2 of them recently retired, but they seemed to have left out Phi Sigma Kappa.
Jack Welch of General Electric, the recently retired Chairman of the Securities and Exchange Commission Arthur Levitt, President of the World Bank Pat Coady, and CFO of the Clorox Corp. Jerry Johnston are all alumni brothers of our great Fraternity. You'd think that atleast one of these companies/financial institutions would have made forbes top 500 list.