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Michael Milken Net Worth

Emmy Wallin

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Michael Milken Net Worth

What is Michael Milken’s net worth? 

Net Worth:$3.7 Billion
Age:74
Born:July 4, 1946
Country of Origin:United States of America
Source of Wealth:Financier
Last Updated:2021

Introduction 

Michael Milken is an American financier and philanthropist.

Milken is noted for his role in the development of the market “junk bonds.” Since his release from prison, he has become known for his charitable giving.

In 2020, he was pardoned by Donald Trump. He was indicted for racketeering and securities fraud in 1989. 

As of 2021, Michael Milken’s net worth is estimated to be roughly $3.7 billion. 

 

Early Life 

Michael Robert Milken was born on the 4th of July, 1946, in Encino, California.

Milken graduated from Birmingham High School, where he was the head cheerleader and worked while in school at a diner. 

His classmates included future Disney president Michael Ovitz and actresses Sally Field and Cindy Williams.

In 1968, he graduated from the University of California. He received his MBA from the Wharton School of the University of Pennsylvania.

 

Career 

Over the years, Milken has become more experienced and has managed to make millions in leveraged buyouts in the 1980s.

He was indicted for racketeering and securities fraud in an inside trading investigation.

In 1990, the case was closed when he pleaded guilty after the government agreed to drop charges against his younger brother.

He was sentenced to ten-year imprisonment, fined $600 million, and permanently barred from the securities industry by the Securities and Exchange Commission.

He served 22 months, after which Milken has fully devoted himself to philanthropy. Milken made his future investments in such companies as LeapFrog and K12.

Also, he has served as the co-founder of the Milken Family Foundation and chairman of the Milken Institute. 

Milken is a prostate cancer survivor, and he became a founder of medical research philanthropies funding research into numerous life-threatening diseases like melanoma and cancer.

In 2010, he signed the Giving Pledge, promising to donate at least half of his wealth to charity.

As of 2021, Michael Milken’s net worth is estimated to be roughly $3.7 billion. 

 

How Does Michael Milken Spend His Money?

Michael Milken spends his money on real estate and charity work. He is a survivor of cancer himself. 

 

Michael Milken’s Home 

Milken owns a home in Malibu. He purchased it in 2011 for $13.75 million. 

 

Michael Milken’s Charity Work 

Milken has helped many charities, and some of those include the Prostate Cancer Foundation. He is a cancer survivor himself, so he wants to help out people on the same journey. 

 

Highlights

Here are some of the best highlights of Michael Milken’s career:

  • Milken was pardoned by President Donald Trump (2020)
  • He is co-founder of the Milken Family Foundation
  • Chairman of the Milken Institute

 

Favorite Quotes from Michael Milken

“My experience indicates that most people who’ve accumulated a great deal of wealth haven’t had that as their goal at all. Wealth is only a by-product, not the original motivation.” – Michael Milken

“There’s no substitute for rolling up your sleeves and working with the people who can make a difference. They get the benefit of your participation, and you gain a direct understanding of the real problems and potential solutions, which makes you a more informed giver.” – Michael Milken

“The past is always triple-A. We can all remember what the past was. If we try to make the future triple-A, we have no future. The future is always single-B.” – Michael Milken

“In the four decades of philanthropy that have paralleled my business career. Same principles apply whether you’re providing access to capital to grow a business, creating a new paradigm for medical research, or pioneering innovative approaches to education. The most talented people in each field and encourage them to pursue their passions.” – Michael Milken

“Dedicated researchers seek better treatments and cures for diabetes, kidney disease, Alzheimer’s, and every form of cancer. These scientists face an array of disincentives. We can do better.” – Michael Milken

“You’ve got to treat people as equals, and make them feel like it’s their company. I don’t know if I’ve had any impact or helped persuade Frank to sell Eastern. I can tell you, there were many discussions on the subject.” – Michael Milken 

 

4 Business Lessons from Michael Milken  

Now that you know all about Michael Milken’s net worth and how he achieved success; let’s take a look at some of the lessons we can learn from him: 

 

1. Never Take Things For Granted 

A business with the ability to raise billions of dollars in debt on one day may not be able to raise five cents a day later.

Credit markets can literally change direction overnight. And precisely when that happens is not predictable.

 

2. Debts 

Debt isn’t good. Debt isn’t bad. For some companies, close to zero debt is too much leverage. For other companies, 100 percent much higher levels of debt can easily be absorbed.

 

3. Great Deals 

Most people who’ve accumulated a great deal of wealth haven’t had that as their goal at all. Wealth is only a by-product, not the original motivation.

 

4. Growth 

The right time for a company to finance its growth is not when it needs capital but rather when the market is most receptive to providing capital.

 

Summary 

Michael Milken is an American financier and philanthropist.

Milken is best known for his role in the creation of junk bonds. Milken is a generous philanthropist who has given abundantly to cancer research in particular.

He was born in Encino, California. He graduated from Birmingham High School and the University of California. 

As of 2021, Michael Milken’s net worth is estimated to be roughly $3.7 billion. 

What do you think about Michael Milken’s net worth? Leave a comment below. 

Emmy Wallin is a writer for Wealthy Gorilla. She is a young Swedish girl from Uppsala, who is currently traveling around the world. Emmy has a big passion for helping others and motivating people. Emmy has been studying celebrities careers, biographies, lifestyles, and net worths for over 3 years. She is the face behind the net worth profiles here on Wealthy Gorilla.

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