The University of Syney (colloquially Sydney Uni or USyd) is the oldest university in Australia. It was established in Sydney in 1850. It is a member of Australia's "Group of Eight" Australian universities that are highly ranked in terms of their research performance. In 2007, the University had 45,182 students and 3,018 (full-time equivalent) academic staff making it the second largest in Australia. By financial endowment it is the wealthiest university in Australia.