Milken

Milken refers to Michael Milken, an American financier and philanthropist. He rose to prominence in the 1980s as a "junk bond" king, known for his innovative use of high-yield bonds to finance companies that traditional lenders deemed too risky. His firm, Drexel Burnham Lambert, played a significant role in the leveraged buyout boom of that era.

Milken's business practices attracted considerable scrutiny, and in 1989, he was indicted on racketeering and fraud charges. He pleaded guilty to six lesser charges and served a prison sentence. The subsequent collapse of Drexel Burnham Lambert marked the end of an era for Wall Street and high-yield finance.

Despite the legal and financial controversies, Milken has also engaged in extensive philanthropic activities. He has been a major donor to medical research, particularly in the areas of cancer and disease prevention, through organizations he founded. He has also advocated for educational reform. Milken remains a notable figure, often discussed in the context of financial innovation, corporate finance, and the ethical considerations surrounding Wall Street practices.