How a School of Economics Dropout Became a Multi-Millionaire

A young man drops out of the London School of Economics and out earns more than most of his classmates combined.

4/1/20233 min read

The London School of Economics is a prestigious college in London, England
The London School of Economics is a prestigious college in London, England

The Inspirational Tale of Michael Philip

Mick Jagger, one of two boys, was born in this modest Dartford house in Kent, Great Britain.
Mick Jagger, one of two boys, was born in this modest Dartford house in Kent, Great Britain.

Pictured above is the childhood home of Michael Philip, who was born in Dartford, England in 1943. A war was raging at the time, but after the war, Michael Philip's father, Basil (Joe) would go on to become one of the important figures involved in popularizing basketball in Jolly Ole England. Joe did this as the Phys Ed director at St. Mary's College and as a member of the British Sports Council. Nevertheless, Joe enjoyed his passion immensely and it came as no big surprise, when one of his sons, Michael Philip, developed a keen interest in another popular American cultural activity, the "Blues".

Just as Michael Philip was entering his teenage years, the skiffle craze hit Britain. In America, skiffle, an electic blend of blues, jazz, country and jug band music, barely earned a yawn, but on the other side of the Atlantic, the appreciation and enjoyment of this working class style turned into somewhat of a craze. Much credit to Lonnie Donegan, featured above, who performed and lauded the music through his LP albums and television appearances. Many music critics have credited Donegan's influence as being inspirational for the British Invasion that hit America in the 60s.

As teenagers, Mick Jaggar and Keith Richards renewed their childhood friendship on a train platform,
As teenagers, Mick Jaggar and Keith Richards renewed their childhood friendship on a train platform,

About this time Michael Philip learned to play the guitar. He also sang in his church choir and so it was no great leap to put the two skills together. Still, Michael Phillip was a good student at his grammar school and so it surprised no one, when the young man was accepted at the London School of Economics with a grant. By this time, Michael Philip, better known as Mick reacquainted with his old childhood friend, Keith Richards, and soon the two were playing in weekend bands, a trend that continued after both men began attending college. While Mick went to the prestigious economic school in London, Keith attended a nearby art college, an educational pursuit favored by many successful rock stars.

The London School of Economics has been around for over a hundred years.
The London School of Economics has been around for over a hundred years.

How much is Mick Jaeggar worth today?

Today there are many estimates as to how much Mick Jaeggar is worth. Depending on who is looking at the books, Mick Jaggar's worth varies between 300 and 500 million US dollars with the higher amount trending most recently. Not bad for someone who dropped out of the London School of Economics. I wonder how many of his classmates came even close to that number. What is most striking here is that despite being one of the "bad boys" of rock and roll, Mick is considered one of ten wealthiest musicians in the world. Maybe some of that Economic education wore off, after all.

Mick Jaggar wasn't long into the London School of Economics, when he dropped out to pursue a musical career. I know this sounds kind of "rad", but Mick and his two cohorts, Keith Richards and Brian Jones, already had a recording contract in hand, when they departed their formal education. Unfortunately, Brian died by drowning in 1969, but Mick and Keith went on to become one of the most successful songwriting duos in modern times. Awards have been many including knighthood delivered courtesy of the British Royal family. Featured below is an early Rolling Stones appearance on "Top of the Pops", a BBC production.