Michael Robert Milken is an American financier. He is known for his role in the development of the market for high-yield bonds, and his conviction and sentence following a guilty plea on felony charges for violating U.S. securities laws. Milken's compensation while head of the high-yield bond department at Drexel Burnham Lambert in the late 1980s exceeded $1 billion over a four-year period, a record for U.S. income at that time. With a net worth of US$6 billion as of 2022, he is among the richest people in the world.
Milken in 2014
Milken in 2018
Milken speaks with PayPal CEO Dan Schulman, 2019.
February 2020 pardon granted by Donald Trump
In finance, a high-yield bond is a bond that is rated below investment grade by credit rating agencies. These bonds have a higher risk of default or other adverse credit events but offer higher yields than investment-grade bonds in order to compensate for the increased risk.
The New York City headquarters of Barclays (formerly Lehman Brothers, as shown in the picture). In background, the AXA Center, headquarters of AXA, first worldwide insurance company.