$7.1 billion
up 9.2%
At the Milken Institute Global Conference in May, Treasury Secretary Scott Bessent likened Milken to Donald Trump, calling them both “bold people with bold ideas” who have “no shortage of critics in establishment circles.” Milken, 79, built his fortune selling high-yield bonds in the 1980s. He received one of the largest paychecks in history in 1987, when Drexel Burnham paid him $550 million, mostly in a performance bonus. He was convicted of securities law violations and served less than two years in prison. Milken received a pardon from Trump during his first term. Since his conviction, Milken has become a philanthropist for prostate cancer research as well as founding the Milken Institute think tank. He is a co-founder of the California Institute for Immunology and Immunotherapy at a UCLA Research Park, which is currently under construction. Milken maintains investments in private equity, hedge funds and venture capital. He is also behind Silver Rock Financial, an investment fund with $10 billion in holdings, including stakes in BuzzFeed and Doc.com. In December, the Milken Family Office sold a 42% equity interest in Silver Rock to Mubadala Capital, an alternative asset management firm in Abu Dhabi. Education: Milken graduated from Birmingham High School in Van Nuys where he was on the basketball, tennis and track teams. He was elected a member of Phi Beta Kappa at the University of California, Berkeley, where he was president of the Sigma Alpha Mu fraternity. Milken earned his MBA from the University of Pennsylvania’s Wharton School. Family: He and his wife Lori reside in Encino.
