Net Worth:

$1.4 BILLION +9%

Last year:

$1.3 billion

Age:

60

Residence:

Los Angeles

Source of Wealth:

Investments

The Money:

Milken made hundreds of millions of dollars during the 1980s pioneering the use of junk bonds to fund corporate acquisitions. These days, spends most of his time on philanthropic and educational activities, while his sizable portfolio is under the radar in private investments.

Buzz:

Milken has donated $750 million dollars personally and through foundations to medical and education programs. Nonpartisan supporter of issues that have affected him personally, such as prostate cancer. The Milken Institute Global Conference celebrated its 10th anniversary this year with 3,000 attendees. The 2007 meeting brought together 470 panelists to discuss a wide range of issues from dependence on foreign oil to education and health care. Founded FasterCures/The Center for Accelerating Medical Solutions to improve medical research through economic incentives and regulatory efficiencies. Started career in1969 at what became Drexel Burnham Lambert. Pioneered issuance of high-yield junk bonds. Indicted 20 years later on securities fraud, pled guilty to six felony counts, served 22 months in prison and paid $200 million in fines.