| Celebrated Name: | Michael Milken |
| Real Name/Full Name: | Michael Robert Milken |
| Gender: | Male |
| Age: | 77 years old |
| Birth Date: | July 4, 1946 |
| Birth Place: | Encino, California, U.S. |
| Nationality: | American |
| Height: | 5 ft 8 inches |
| Weight: | 75 kg |
| Sexual Orientation: | Straight |
| Marital Status: | Married |
| Wife/Spouse (Name): | Lori Anne Hackel |
| Children/Kids (Son and Daughter): | Yes (three) |
| Dating/Girlfriend (Name): | Yes (Bari Milken-Bernstein, Lance A. Milken, Gregory A. Milken) |
| Is Michael Milken Gay?: | No |
| Profession: | Businessman, financier, philanthropist |
| Salary: | NA |
| Net Worth in 2024: | $4 billion |
| Last Updated: | April 2024 |
Michael Robert Milken is US philanthropist and financier who is well-known for his remarkable contribution in the expansion of the market for high-yield junk bonds”. He is also co-founder of the Milken Family Foundation and presides as chairman of the Milken Institute.
In 1989, he was convicted and sentenced for being accused of violation of U.S. securities laws. He was charged with securities fraud and racketeering in an insider trading examination.
He was imprisoned for ten years and fined $600 million. He was permanently abandoned from the securities industry controlled by the Securities and Exchange Commission. Later, his period of imprisonment was reduced to two years for his good behavior.
After when he released from prison, he devoted himself to charity works that include funding for medical research. US President Donald Trump forgiven Milken on February 18, 2020.
In 2004, Fortune magazine recognized him with the title “The Man Who Changed Medicine” for amendments in his approach towards funding and the outcome that he initiated.
Maybe you know about Michael Milken very well, but do you know how old and tall is he and what is his net worth in 2024? If you do not know, we have prepared this article about details of Michael Milken’s short biography-wiki, career, professional life, personal life, today’s net worth, age, height, weight, and more facts. Well, if you’re ready, let’s start.
Early Life & Biography
Milken was born in Encino, California. He hails from a middle-class Jewish family. He has a brother named Lowell Milken. He completed his schooling from Birmingham High School. In 1968, he graduated from California University. Later, he also earned a B.S. with highest honors. He received his MBA degree from the Wharton School of the University of Pennsylvania. The credit studies are written by the former president of the Federal Reserve Bank of Cleveland, ‘W. Braddock Hickman’ had a significant influence on him.
Personal Life
Milken was dating Lori Anne Hackel from high school. Their relationship transformed into marriage. The couple has three children named Bari Milken-Bernstein, Lance A. Milken, Gregory A. Milken.
Milken follows a vegetarian diet that comprises of plenty of vegetables, and fruits. He adopted this diet for its amazing health benefits.Milken also co-wrote a vegan cookbook along with Beth Ginsberg.
He was diagnosed with an advanced stage of prostate cancer when he was released from prison. Presently, his cancer is in the stage of remission.
Milken is co-founder of the Milken Family Foundation. He is also the chairman of the Milken Institute. He has made monetary contributions for research into cancer, melanoma, and a few other life-threatening ailments. Being a survivor of a prostate cancer survivor, Milken has devoted substantial resources to perform research on this ailment.
Age, Height, and Weight
Being born on July 4, 1946, Michael Milken is 77 years old as of today’s date 24th April 2024. His height is 5 ft 8 inches tall, and his weight is 75 kg.
Career
After completing his graduation, Milken joined as a director in the firm ‘Drexel Firestone’ of low-grade bond research. He was given control of capital and was allowed to trade.
In 1973, Drexel associated with ‘Burnham and Company’ to form Drexel Burnham. Milken has been one of the major holdovers from the Drexel side, and later became the head of convertibles of the merger firm.
He convinced his boss ‘Tubby Burnham,’ to launch a high-yield bond trading division. This operation earned them a 100% ROI (return on investment). By 1976, his annual income was projected at $5 million.
In 1996, Milken with his sibling ‘Lowell’ founded Knowledge Universe and Knowledge Learning Corporation.
He established K12 Inc. to offer online schooling to students. Based on enrolment, this organization became the largest EMO.
Awards & Achievements
President Steven Knapp of George Washington University made a declaration that the university is retitling its public health school after his name. This declaration was made on March 11, 2014, due to his generous contribution of $80 million in gifts, $30 million gift from Viacom chairman Sumner Redstone, and $50 million from the Milken Family Foundation and Milken Institute. These gifts are offered towards scholarship and research on public health issues.
In 1991, Milken she has become the first person to have received the Ig Nobel Economics Prize.
In 1982, Milken, along with his brother named Lowell, laid the foundation for the Milken Family Foundation for providing support in the area of medical education and research. The Milken Educator Awards that got founded in 1985 awarded a total of over $60 million to 2,500 teachers and above.
In 1993, when Milken released from prison, he established the Prostate Cancer Foundation for performing research on prostate cancer. In 2010, the foundation was regarded as the most significant philanthropic funding source for performing research in prostate cancer.
Net Worth & Salary of Michael Milken in 2024
Michael Milken is a well-known US philanthropist and financier. He has an overall net worth of $4 Billion as of April 2024. Forbes magazine has ranked him as the 606th wealthiest person in the world. This list was prepared in 2018.
Michael Milken is popularly known for his significant role in the introduction and growth of junk bonds. In 1989, he got accused of accounts of fraud and racketeering.
After getting released from the sentence, he made generous contributions towards medical research. He has set up the Prostate Cancer Foundation, the largest philanthropic funding for performing research in the area of prostate cancer and several other life-threatening ailments such as cancer, and melanoma.
Milken, along with his brother Lowell laid the foundation of Knowledge Universe in the year 1996. The duo also founded Knowledge Learning Corporation (KLC). He is presently chairman of this company.
He dedicated his future investments in firms that include a publicly traded education management organization named educational outfit K12.
In addition to it, Milken also served as the chairman of the Milken Institute, and co-founder of the Milken Family Foundation.
In December 2010, Milken signed the Giving Pledge, where he has sworn to donate a minimum of half of his wealth towards charity.
Michael Milken was known for creating and expanding the high-yield bond market. Due to his greed for money, he indulged in securities fraud and had to suffer from imprisonment and fine. To compensate for his wrongdoing, he vowed to become a better person and adopted ethical ways of living life. He made significant charitable contributions, for which he obtained immense recognition.