32. Lowell Milken

Real estate development looms large this year for Milken, a major investor in the 30,000-acre Tahoe Reno Industrial Center. The project completed 2 million square feet of industrial properties and the planned development of 4.8 million more in 2025. Milken, 76, is also chairman and a major investor in London-based Heron International, the developer of another 850-acre business park near Reno. He also serves as chairman and a major owner at National Realty Trust, a private REIT and the largest property owner of early childhood centers in the U.S. Outside of real estate, his biggest equity positions include Apple, cybersecurity firm Crowdstrike and educational software company Stride. Through Stone Canyon Industries, he and the Milken family office have stakes in Morton Salt and Reddy Ice. Milken started his investment career alongside his older brother Michael Milken in the 1980s at bond brokerage Drexel Burnham Lambert. Education: At UC Berkeley, he earned the School of Business Administration’s Most Outstanding Student Award. Milken later received a law degree from UCLA. In 2017, he was named the Education Commission of the States James Bryan Conant Award recipient, a recognition for his contribution to education. Philanthropy: The Aaron Milken Center, an early childhood education facility that teaches Hebrew immersion and Jewish values, opened this year in Bel-Air. It is “a living memorial” for Milken’s youngest son, who died at 23. Milken chairs the Milken Family Foundation and the Lowell Milken Family Foundation. This past year, his charitable contributions totaled more than $14.6 million.