Net Worth: $2.9 B

LAST YEAR: $3 B
CHANGE: -3.3%
AGE: 73
RESIDENCE: Brentwood
SOURCE OF WEALTH: Investments

THE MONEY: Milken’s investments range from real estate development and technology companies to venture capital and private equity funds. He is chairman and a major owner of National Realty Trust Inc., the largest property owner of early childhood centers in the United States. In 2020, National Realty Trust raised $415 million of new equity and is now a private real estate investment trust. Milken also is leading more than $1.5 billion of property development and investment in Reno, Nevada. One project, Comstock Commerce Center, is a 688-acre, 7.9 million-plus square-foot development of advanced manufacturing, datacenter and logistics. Milken’s core holdings include Heron International, a London-based property investment and development company in which Milken invested in the 1990s and has been chairman of for more than 20 years. Milken is the younger brother of Michael Milken, who worked alongside him when the bond king worked at New York investment bank Drexel Burnham Lambert.

THE BUZZ: Milken is co-founder and chairman of the Milken Family Foundation, which supports education reform. He also is founder of the National Institute for Excellence in Teaching. In the past year he has donated $20.7 million to philanthropic causes.