Of course, you could make the case that Apple is run by one person, and he didn't even graduate college.
So everyone in the business management or legal side of Apple has an MBA or JD? Go figure...
Actually, that is significant. I studied undergraduate business and I can tell right away the difference between an MBA-run business and non-MBA-run type business. People with MBA's have a broad base of case studies, so they know how to handle some eccentric but important situations pretty well, but they tend to like formality, business plans, marketing plans instead of "screw it, let's mess around and see what happens" - not sure what the ratio of MBA to non-MBA in Google management is, but Google seems very much like a non-MBA culture. In fact, their CEO Schmidt has degrees in engineering and computer science. They probably have MBA-type people running Adwords, though, you'd almost have to.
Edit: chillingeffects.org and dataliberation.org are backed by Google, which is very much more a hacker ethos than an MBA ethos type move.
So that's 7 out of 12 of the top execs who have no MBA or JD.
(Also, most of my friends in management at Apple don't have MBAs. If they do get master's degrees, it's usually for the pay grade bump it gives. More anecdotally, I know at least 50 people in middle management at Apple without MBAs.)
http://money.cnn.com/magazines/fortune/bestcompanies/2010/fu...
http://money.cnn.com/magazines/fortune/bestcompanies/2009/fu...
http://money.cnn.com/magazines/fortune/bestcompanies/2008/fu...
Nobody at Apple thinks it's worth the bother and loss of privacy. And I guarantee Apple isn't the only company that thinks that way.
Eh, Thinking about it again, I'd rather work at Apple