Michael Milken is an American financier, philanthropist, and medical research pioneer, widely credited with revolutionizing modern capital markets. Born in Encino, California, Milken earned his MBA from the Wharton School of the University of Pennsylvania before joining Drexel Burnham Lambert, where he became famous for developing the market for high-yield bonds—often referred to as “junk bonds.” This innovation helped democratize access to capital, allowing smaller and emerging companies to raise funds and grow.
In the early 1990s, after legal challenges and serving time related to securities law violations, Milken shifted his focus entirely to philanthropy. Through the Milken Institute, FasterCures, and the Prostate Cancer Foundation, he has dedicated billions of dollars and decades of work to advancing medical research, public health policy, education, and access to capital for global development.
Today, Milken is recognized not only for his financial innovations but also as one of the world’s leading philanthropists, having helped accelerate breakthroughs in cancer research and other life sciences.
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