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

At Deutsche Bank's U.S. Unit, Anxiety Grows Before Ax Falls

Rivals insist that spells opportunity. At the Milken conference, a sort of Davos-like gathering hosted by Michael Milken, several banking executives casually compared notes on whom they should try to pick off at Deutsche Bank. Others openly marveled at how ...
Posted: May 11, 2018, 2:19 am

Michael R. Bright Nominated to Head Ginnie Mae

On Tuesday, the Trump administration announced that it was nominating Michael R. Bright as President of the Government ... stints as Director of the Center for Financial Markets at the Milken Institute, an SVP Business Development at PennyMac, and an ...
Posted: May 15, 2018, 4:13 pm

100 Days That Changed Hollywood: The Writers Strike, 10 Years Later

The work stoppage — the industry's first in nearly two decades — ultimately lasted 100 days and, according to the Milken Institute ... remained far apart on the key issue of new media. MICHAEL LYNTON, THEN SONY CEO There came a moment where I was ...
Posted: May 17, 2018, 6:22 am
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