Michael Milken
$7.5B
Born
Jul 04, 1946
Age
79
Source of Wealth
Investments
Residence
Los Angeles, California
Citizenship
United States
Marital Status
Married
Children
3
Education
Bachelor of Arts/Science, University of California, Berkeley; Master of Business Administration, University of Pennsylvania, The Wharton School
- Mike Milken joined what became investment bank Drexel Burnham Lambert in 1969 and expanded the market for high-yield junk bonds.
- He was banned from the securities industry after pleading guilty to securities fraud in 1990. In February 2020, President Trump pardoned him.
- Milken chairs the Milken Institute think tank, which produces the annual Milken Global Conference in Los Angeles, the Davos of the West Coast.
- His investments include private equity, hedge funds, venture capital and more than one asset management firm.
- He's donated $500 million of his fortune on the Center For Advancing The American Dream in Washington DC, which including outside funding is expected to cost $1 billion.
- Milken founded what is now called the Prostate Cancer Foundation in 1993 after his own battle with prostate cancer.
- Milken switched majors at U.C. Berkeley from math and science to business after the 1965 Watts riots in Los Angeles, determined to democratize capital access.
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