Infamous for his 1989 indictment on charges of investment fraud and racketeering, this businessman built his wealth through his work in the high-yield bonds market. After serving a two-year prison term, he founded a California-based financial think tank called The Milken Group and also donated large amounts of money to medical research.
After graduating summa cum laude from the University of California, Berkeley, he received his MBA from the University of Pennsylvania's famous Wharton School. He began his investment banking career at Drexel Harriman Ripley.
Ted Turner (of Turner Broadcasting), mobile phone magnate Craig McCaw, and casino owner Steve Wynn were among Milken's financial clients.
He grew up in Los Angeles' West San Fernando Valley. He married his childhood sweetheart, Lori Anne Hackel, and raised three children.
Despite his greed-based crimes, Milken received praise from author and economics expert George Gilder, who wrote in his 2000 book Telecosm that Milken's early-career re-organization of the financial market had resulted in significant economic growth in America.