Michael Milken
Overview
- Source of Wealth
- Investments
- Industry
- Finance & Investments
- Residence
- Los Angeles, California
- Education
- University of California, Berkeley (Bachelor of Arts/Science)University of Pennsylvania, The Wharton School (Master of Business Administration)
- Marital Status
- Married
- Children
- 3
Assets
- Ares Management LP0 shares @ --ARES-US
- K120 shares @ --LRN-US
- Leap Frog4,378,000 shares @ --LF-US
Biography
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.
About
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.