The University of Southern California (USC or SC) is a private, not-for-profit, and nonsectarian research university founded in 1880 with its main campus in the city area of Los Angeles, California. As California's oldest private research university, USC has historically educated a large number of the region's business leaders and professionals. In recent decades, the university has also leveraged its location in Los Angeles to establish relationships with research and cultural institutions throughout Asia and the Pacific Rim. An engine for economic activity, USC contributes approximately $5 billion annually to the economy of the Los Angeles county area. As of 2014, the university has produced the fourth largest number of billionaire alumni out of all undergraduate institutions in the world.