As usual, these lists imply, or explicitly claim, that attending these colleges “make the leaders”. This is simply not true.
First, to a large extent, the “leaders” come from the top socioeconomic classes. Few business, political, etc, leaders grew up in poverty or even mid-income families. The vast majority grew up in families in the top 20% by income or higher. The wealthier the family, the more likely that a scion of this family will become a “leader”, especially if “leaders” = “very wealthy CEO of corporation”.
So colleges which recruit the children of the wealthy are more likely to have future “leaders” among their ranks.
But even more than that, AOs at these colleges are very skilled at choosing kids who most likely to do well, whether they attend Harvard or Iowa State. That is why places like Harvard look for the sort of achievements that result in “leadership” in politics and the finance world.
This ranking is not “these are the best colleges for students who want to become leaders”, or “these are the colleges that are best at creating leaders”.
The ranking is “these are the colleges that are the best at choosing and recruiting applicants who are likely to become leaders, regardless of the college that they attend”.
Or, more correctly “these are the colleges that are the best at choosing and recruiting applicants who are likely to become leaders, regardless of the college that they attend, and making certain to solely focus on these sorts of students”
So any college which cares about education any other type of students will have a far more difficult time making this list.
This list is also problematic in that it doesn’t control for number of students. LACs will be lower because they are producing fewer graduates.
To their credit, the article does mention the old time pipeline from wealthy private universities to the top leadership positions - the “Old Boys” method of the powerful selecting their replacements from the same set of colleges.
This worked across all ways of life, but nowhere was as entrenched as in the business world, and it still is today.