LOWELL J. MILKEN

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Net worth:

$970 million +10%


Last year:

$880 million


Age:

58


Residence:

Los Angeles


Source of Wealth:

Investments



The Money:

Has significant equity investments and owns property worldwide. Active in international real estate, serves as chairman for London-based property investment and development firm Heron International. Owns numerous businesses in industrial, commercial and golf real estate.



Buzz:

Chairman of the Milken Family Foundation, which focuses on education and medical research. Started Teacher Advancement Program Foundation, which focuses on revitalizing the teaching profession and increasing the quality of teachers. Gives $25,000 checks to teachers in recognition for outstanding achievements. Foundation has given more than $56 million to educators across the nation. Chief executive of Knowledge Universe Education, which is home to the largest early childhood education company in the U.S. Founded Milken Archive of American Jewish Music, which released its 50th CD last year. Graduated from Berkeley; received law degree from UCLA and joined L.A. firm Irell & Manella. Left in 1978 when older brother Michael moved to L.A.; specialized in distressed securities investing and main adviser at Drexel Burnham Lambert. Also indicted for securities fraud; charges were dropped when Michael pleaded guilty.

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