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Michael Milken. $6.5B. Real Time Net Worth. as of 7/1/24. #436 in the world today. Photo by Paul Miller/Bloomberg. About Michael Milken. Mike Milken joined what became investment bank Drexel ...
With a net worth of US$ 6 billion as of 2022, he is among the richest people in the world. Milken was indicted for racketeering and securities fraud in 1989 in an insider trading investigation. In a plea bargain, he pleaded guilty to securities and reporting violations but not to racketeering or insider trading.
Michael Milken is an American financier and philanthropist. As of 2024, Michael Milken's net worth is estimated to be roughly $3.7 billion.
- What Is Michael Milken's Net Worth?
- Early Life and Education
- Career in Private Equity
- Criminal Scandal
- Philanthropic Work
- Personal Life
- Real Estate
Michael Milken is an American financier and philanthropist who has a net worth of $6 billion. Michael Milken is a financier, philanthropist, and convicted felon, known for his work developing high-yield bonds, also known as junk bonds. Between 1983 and 1987 alone, Michael earned over $1 billion in compensation as an employee of the firm Drexel Burn...
Michael Milken was born on the Fourth of July in 1946 in Encino, California to a middle-class Jewish family. He has a brother named Lowell who is a businessman and philanthropist. As a teen, Milken went to Birmingham High School, where he was the head of the cheerleading squad. Following his graduation, he attended the University of California, Ber...
Through his professors at Wharton, Milken secured a summer job at the investment bank Drexel Harriman Ripley. There, he became director of low-grade bond research, and was given permission to trade. In 1973, Drexel merged with Burnham and Company to form Drexel Burnham. One of the few major holdovers from the Drexel side, Milken became the newly fo...
Beginning in 1979, Milken was under intense scrutiny from the Securities and Exchange Commission for his notoriously unethical and often illegal activities in the high-yield bond department. Reportedly, Milken had disdain for securities laws and regulations, and blithely ignored them to enrich himself and other buyers. Despite all this, SEC inquiri...
The same month he was released from prison in 1993, Milken was diagnosed with prostate cancer. He subsequently founded the Prostate Cancer Foundation to raise funds for research into the disease. The Foundation also works with Major League Baseball's Home Run Challenge to further promote awareness and research. Through this partnership, Milken is k...
In 1968, Milken married his high school sweetheart Lori Anne Hackel; together, the couple has three children. Reportedly, Milken follows a healthy, vegetarian-like diet, something reflected in his co-authoring of a vegan cookbook.
Despite being worth billions, Michael and Lori Milken still reside in the same home they purchased together in 1977 for $587,500. The 1.1 acre property features a 7,000 square foot, 7-bedroom home up a winding driveway that leads to an estate with tennis court, pool and huge lawn. Milken's children have been less modest with their home purchases. I...
- Celebrity Net Worth
Jan 4, 2024 · Michael Milken is a philanthropist and financier known for his investment in junk bonds as an executive at the investment bank Drexel Burnham Lambert.
Feb 19, 2020 · Michael Milken, one of America’s greatest financiers, pioneered the use of high-yield bonds in corporate finance. His innovative work greatly expanded access to capital for emerging companies.
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Forbes pegs Milken’s wealth at $6 billion, but some in his orbit say he could easily be worth double that.
