Michael Milken has recently been in the news due to his pardon by former U.S. President Donald Trump in February 2020. This pardon came after Milken's conviction in 1990 for securities fraud and other violations, which led to him serving time in prison. Milken's pardon was controversial, with critics questioning the decision to pardon someone convicted of such serious financial crimes.
Michael Milken, born on July 4, 1946, is an American financier and philanthropist. He gained fame in the 1980s for his role in developing the market for high-yield bonds, also known as "junk bonds." Milken was a key figure in the world of finance during this time, known for his innovative strategies and high-risk investments. However, his career took a dramatic turn when he was implicated in a major insider trading scandal in the late 1980s. Milken pleaded guilty to several felony charges, including securities fraud, and was sentenced to prison. Despite this setback, Milken has since focused on philanthropy and charitable work, establishing the Milken Institute, a non-profit think tank dedicated to improving global health and prosperity.