I understand the desire for students to want to get into Harvard. It's not like what they teach there is much different from what they teach anywhere else, academia being what it is. Harvard might have some ever-so-slightly better professors that other Ivy League colleges. Mostly the value of Harvard is in networking with professors and other students that will be the movers and shakers of the next generation of business and politics.
That said, I think it would be just as well for a few wealthy Asian American tycoons to found their own college. If you can't join 'em, beat 'em.