Michael Milken’s profile picture

Michael Milken

Michael Milken’s profile picture
Net worth 2018: $3.72 Billion
Industry: Investments
Residence: Los Angeles, California
Country: United States
BirthDay: 4 July 1946
Sigh: Leo
Children: 3
Education: Bachelor of Arts / Science, University of California, Berkeley; Master of Business Administration, Wharton School
BIOGRAPHY

Michael Milken was bornon 4 July 1946 in Los Angeles, California, United States. Michael Milken is #602 in List Billionaires People In The World. 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 for life after pleading guilty to a securities fraud charge in 1990. Milken now chairs the Milken Institute think tank, which produces the annual Milken Global Conference in Los Angeles, the Davos of the West Coast. Milken has investments in private equity, hedge funds, venture capital and more than one asset management firm. Milken pledged $50 million to George Washington University in 2014 to fund public health programs; the school of public health bears his name.

NET WORTH STATISTIC
2009

$2 Billion

2010

$2.1 Billion

2011

$2.1 Billion

2012

$2.3 Billion

2013

$2.5 Billion

2014

$2.5 Billion

2015

$2.5 Billion

2016

$3.5 Billion

2017

$3.6 Billion

2018

$3.72 Billion

Finance can change the world and create millions of jobs by empowering people with ability.

Michael Milken
TIMELINE
2017

Milken himself points out that high-yield bonds go back hundreds of years, having been issued by the Massachusetts Bay Colony in the 17th century and by America's first Treasury Secretary Alexander Hamilton

2014

On March 11, 2014, President Steven Knapp of George Washington University in Washington, D

2013

In February 2013, the SEC announced that they were investigating whether Milken violated his lifetime ban from the securities industry

2012

In September 2012, Milken and the director of the National Institutes of Health, Dr

2011

Since 2011, the SEC has been investigating Guggenheim’s relationship with client Milken

2010

With an estimated net worth of around $2 billion as of 2010, he is ranked by Forbes magazine as the 488th richest person in the world

2004

Fortune magazine called Milken "The Man Who Changed Medicine" in a 2004 cover story on his philanthropy

2000

Supporters, like George Gilder in his book, Telecosm (2000), state that "Milken was a key source of the organizational changes that have impelled economic growth over the last twenty years

1996

Milken and his brother Lowell founded Knowledge Universe in 1996, as well as Knowledge Learning Corporation (KLC), the parent company of KinderCare Learning Centers, the largest for-profit child care provider in the country

1993

Among the other initiatives of the Milken Family Foundation are the:Upon his release from prison in 1993, Milken founded the Prostate Cancer Foundation for prostate cancer research, which by 2010 was "the largest philanthropic source of funds for research into prostate cancer

1991

Milken became the first recipient of the Ig Nobel Economics Prize in 1991

1990

"I am troubled by - and other scholars are troubled by - the notion of putting relatives on the bargaining table," said Vivian Berger, a professor at Columbia University Law School, in a 1990 interview with The New York Times

1989

In March 1989, a federal grand jury indicted Milken on 98 counts of racketeering and fraud

1988

On December 21, 1988, Drexel entered a guilty plea to six counts of stock parking and stock manipulation

1986

3 million in 1986 for Milken's share of profits from illegal trading

1985

Through the Milken Educator Awards (founded in 1985), the MFF has awarded a total of more than $60 million to more than 2,500 teachers

1982

In 1982, Milken and his brother Lowell founded the Milken Family Foundation to support medical research and education

1980

Ayad Akhtar's play, Junk, set during the bond trading scandals of the 1980s, is partly based on Milken's "fall from grace"

1979

Dan Stone, a former Drexel executive, wrote in his book April Fools that Milken was under nearly constant scrutiny from the Securities and Exchange Commission from 1979 onward due to unethical and sometimes illegal behavior in the high-yield department

1978

In 1978, Milken moved the high-yield bond operation to Century City in Los Angeles

1976

By 1976, Milken's income at what was now Drexel Burnham Lambert was estimated at $5 million a year

1973

Drexel merged with Burnham and Company in 1973 to form Drexel Burnham

1969

Through his Wharton professors, Milken landed a summer job at Drexel Harriman Ripley, an old-line investment bank, in 1969

1968

In 1968, he graduated from the University of California, Berkeley with a B

1946

Michael Robert Milken (born July 4, 1946) is an American former financier and philanthropist

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