NET WORTH: $900 million -17%

LAST YEAR: $1.08 billion

AGE: 63

RESIDENCE: Los Angeles

SOURCE OF WEALTH: Investments

THE MONEY: Shares of online school operator K12, in which he holds large stake with brother, Michael, have dropped amid criticism of company. Also active with sibling in education firm Knowledge Universe, hit by credit downgrades due to high debt and poor earnings.

BUZZ: Despite criticism of K12 questioning the effectiveness of its online education, Milken is continuing to work for education reform. His TAP program rewards high-achieving teachers and students. And he gave $10 million for new Lowell Milken Institute for Business Law and Policy at UCLA. However, past continues to dog him. Two professors protested, citing his indictment for securities fraud in the 1980s even though charges were dropped. Lover of Jewish music, founded Milken Archive of American Jewish Music. Chairman of Milken Family Foundation, emphasizes education reform and medical research. Practiced at Century City law firm Irell & Manella LLP before working at Drexel Burnham Lambert, defunct Wall Street investment banking firm that under brother’s leadership pioneered issuance of high-yield corporate bonds for noninvestment grade companies but collapsed after securities fraud scandal. Has interests in British real estate through his Heron International firm that is located in London.