Net Worth: $2.9 B

LAST YEAR: 2.9

CHANGE: -1.1%

AGE: 74

RESIDENCE: Brentwood

SOURCE OF WEALTH: Investments



THE MONEY: Milken’s investments range from real estate development and publicly traded and private 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 December 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. A drop in value of some of his Reno assets were to blame for the decrease in his net worth.



THE BUZZ: Milken is co-founder and chair of the Milken Family Foundation, which supports education reform, medical research and public health. Milken founded the National Institute for Excellence in Teaching. In the past year he has donated $24.3 million to philanthropic causes, including $15 million to create the Aaron Milken Center at the Stephen S. Wise Temple in Los Angeles, a parenting and early childhood-education facility.