Michael Milken Net Worth is$2.1 Billion
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Profession: Entrepreneur, Businessperson, Banker, Financier, Philanthropist

Date of Birth: Jul 4, 1946

Country: United States of America

Michael Milken is a California-born businessman and convicted felon with an estimated net worth of $2 billion dollars. Michael Milkenis most widely known for his role in the creation of junk bonds and was indicted on 98 counts of racketeering and fraud in 1989. He is also a widely recognized philanthropist, giving generously to cancer research in particular.
Michael Robert Milken (born July 4, 1946) is an American business magnate, financier, and philanthropist noted for his role in the development of the market for high-yield bonds (also called junk bonds) during the 1970s and 1980s, for his 1990 guilty plea to felony charges for violating US securities laws, and for his funding of medical research.
Milken was indicted on 98 counts of racketeering and securities fraud in 1989 as the result of an insider trading investigation. After a plea bargain, he pled guilty to six securities and reporting violations but was never convicted of racketeering or insider trading. Milken was sentenced to ten years in prison and permanently barred from the securities industry by the Securities and Exchange Commission. After the presiding judge reduced his sentence for cooperating with testimony against his former colleagues and good behavior, he was released after less than two years.
His critics cited him as the epitome of Wall Street greed during the 1980s, and nicknamed him the "Junk Bond King". Supporters, like George Gilder in his book, Telecosm, note that "Milken was a key source of the organizational changes that have impelled economic growth over the last twenty years. Most striking was the productivity surge in capital, as Milken ... and others took the vast sums trapped in old-line businesses and put them back into the markets."
Milken has also been engaged in philanthropic activities since the early 1980s. He is co-founder of the Milken Family Foundation, chairman of the Milken Institute, and founder of medical philanthropies funding research into melanoma, cancer and other life-threatening diseases. In a November 2004 cover article, Fortune magazine called him "The Man Who Changed Medicine" for his positive influence on medical research.
Milken's compensation, while head of the high-yield bond department at Drexel Burnham Lambert in the late 1980s, exceeded $1 billion in a four-year period, a new record for US inc

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Michael Milken Latest News

Ivan Boesky and the end of the '80s Wall Street boom

The great junk bond firm Drexel Burnham Lambert would be bankrupt. And Drexel's junk-bond guru, Michael Milken, would be behind bars. But it was not just the mega-rich that would be hurt as the roaring 1980s came to an end. The wild bull stock market that ...
Posted: August 14, 2017, 3:00 am

The 10 crucial business books that explain why modern capitalism works the way it does now

It's the story of junk bond king Michael Milken and arbitrage investor Ivan Boesky, who made vast fortunes in the '80s betting on debt-fueled mergers and acquisitions. Their investments were based on secret tips from insiders working on the impending ...
Posted: August 12, 2017, 8:15 am

Too Big to Prosecute — DOJ Gives Giant Corporations a Pass

Once, not that long ago, the government prosecuted the likes of Michael Milken and executives of Enron, Adelphia and Worldcom. It may have been the golden age of white collar prosecution. Today, executives at Wells Fargo, Goldman Sachs, and so many others ...
Posted: August 17, 2017, 5:00 pm

Some Men Just Want to Watch America Burn

Arriving at the start of the junk-bond era, Bannon imbibed some of the spirit of risk-taking pirates like Michael Milken. This informed the Hollywood stage of his career, where he spent a few years making a mint advising on studio acquisitions (the period ...
Posted: August 14, 2017, 1:00 am

LA 500: Michael Milken

Michael Milken has been at the forefront of initiatives in medical research, public policy, education, public health, and access to capital for more than four decades. In 1982, he formalized his previous philanthropy by co-founding the Milken Family ...
Posted: August 10, 2017, 4:18 pm
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