Michael Milken, Date of Birth, Place of Birth

    

Michael Milken

American investor

Date of Birth: 04-Jul-1946

Place of Birth: Encino, California, United States

Profession: banker, financier

Nationality: United States

Zodiac Sign: Cancer


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About Michael Milken

  • Michael Robert Milken (born July 4, 1946) is an American financier and philanthropist.
  • He is noted for his role in the development of the market for high-yield bonds ("junk bonds"), and his conviction and sentence following a guilty plea on felony charges for violating U.S.
  • securities laws.
  • Since his release from prison, he has also become known for his charitable giving.Milken was indicted for racketeering and securities fraud in 1989 in an insider trading investigation.
  • As the result of a plea bargain, he pleaded guilty to securities and reporting violations but not to racketeering or insider trading.
  • Milken was sentenced to ten years in prison, fined $600 million, and permanently barred from the securities industry by the Securities and Exchange Commission.
  • His sentence was later reduced to two years for cooperating with testimony against his former colleagues and for good behavior.
  • Since his release from prison, Milken has funded medical research.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.
  • A prostate cancer survivor, Milken has devoted significant resources to research on the disease.
  • In a November 2004 cover article, Fortune magazine called him "The Man Who Changed Medicine" for changes in approach to funding and results that he initiated.
  • Milken's compensation while head of the high-yield bond department at Drexel Burnham Lambert in the late 1980s exceeded $1 billion over a four-year period, a record for U.S.
  • income at that time.
  • With an estimated net worth of around $3.7 billion as of 2018, he is ranked by Forbes magazine as the 606th richest person in the world.

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