Michael Milken

About Michael Milken

This businessman became well-known after his 1989 indictment on accusations of investment fraud and racketeering. He made his fortune in the high-yield bond market. He formed The Milken Group, a financial think tank based in California, after serving a two-year prison sentence and donating substantial sums of money to medical research.

Michael Robert Milken is an American former criminal, financier and philanthropist. He is recognized for his role in developing a high yield bond market, as well as convicted and sentenced after pleading guilty to breaking US securities laws. Since his release from prison, he has also been known for his charitable activities. Milken was pardoned by President Donald Trump on February 18, 2020. Milken was charged with fraud and securities fraud in 1989 during an insider trading investigation. Following a negotiation, he pleaded guilty to securities and reported breaches, but no ridicule or insider trading. Milken was sentenced to ten years in prison, fined $ 600 million and banned from trading in the securities industry permanently by the Securities and Exchange Commission. His sentence was then reduced to two years for cooperating with testimony against his former colleagues and for good behavior.

Spouse(s)	Lori Anne Hackel (m. 1968)
Criminal status	Released, Pardoned (February 18, 2020)
Citizenship	United States
Criminal penalty	22 months imprisonment (actual time served), $600 million fine
Net worth	US$3.7 billion, (March 2020)
Known for	Developing the High-yield bond market, Indictment for securities fraud, philanthropy
Born	Michael Robert Milken, July 4, 1946, Encino, California, U.S.
Relatives	Lowell Milken (brother)
Children	3
Education	University of California, Berkeley (BS), University of Pennsylvania (MBA)
Criminal charge	Racketeering, securities fraud, etc.
Occupation	Businessman, financier, philanthropist

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Michael Milken before fame

He earned his MBA from the University of Pennsylvania's prestigious Wharton School after graduating summa cum laude from the University of California, Berkeley. Drexel Harriman Ripley was where he started his investment banking career.

Achievement of Michael Milken

Milken's financial clientele included Ted Turner (of Turner Broadcasting), Craig McCaw (of Motorola), and Steve Wynn (of Wynn Resorts).

Salary 2020

Not known

Net Worth 2020

$3.7 Billion

Michael Milken family life

He grew raised in the West San Fernando Valley in Los Angeles. He married Lori Anne Hackel, his childhood sweetheart, and they had three children.

Associations of Michael Milken

Despite his greed-related crimes, Milken was praised by author and economist George Gilder, who claimed in his book Telecosm in 2000 that Milken's early-career reorganization of the financial sector resulted in enormous economic growth in America.

Michael Milken Height, Weight & Physique Measurements

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Family Members

Name	Relationship	Net worth	Profession
Lance A. Milken	Children		N/A
Bari Milken-Bernstein	Children		N/A
Gregory A. Milken	Children		N/A
Lori Anne Hackel	Spouse		N/A