A rich list put together by Wealth-X shows the School, which was ranked number five, has produced 273 super-rich graduates with a combined wealth of £8.4 billion.
The rich-list ranks UK universities according to how many ultra-wealthy individuals their alumni includes.
The league table is topped by Oxford, which has produced 401 graduates worth more than £20 million, while Cambridge - ranked second - has turned out 361.
Wealth-X's report features 20 UK universities and a total of 2,318 ultra-wealthy alumni who have a combined net worth of around £173 billion.
Mykolas Rambus, Wealth-X's chief executive officer, said many of those included had multiple residences around the world. The analysis, he added, highlighted the need for educational institutions to identify and foster closer relationships with "potential major donors".
London Business School alumni include Marks & Spencer chairman Sir Richard Greenbury and UBS's former chief executive officer Huw Jenkins.