Mike Milken

Mike Milken

Michael (Mike)
Junk Bond King
1946 - present

Dubbed as the “Junk Bond King,” Michael Milken is a philanthropist and financial celebrity known for using high-yield junk bonds for corporate financing and mergers and acquisitions. A former felon, Milken amassed a tremendous personal fortune, but in 1989 he was indicted by a federal grand jury and eventually spent nearly two years in prison after pleading guilty to violating securities laws. While he is credited with founding the high-yield debt market, he was banned for life from the securities industry.

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Michael Milken was sentenced to ten years in federal prison but was released after two years for good behavior. He was also fined $600 million.