200. Michael Milken

Forbes - - PROMOTION -

milken be­gan build­ing his for­tune while at drexel burn­ham lam­bert, where he led devel­op­ment of the high-yield junk bond mar­ket in the 1980s. he spent 22 months in prison af­ter plead­ing guilty to se­cu­ri­ties fraud in 1990. banned from trad­ing, milken shifted his focus to phi­lan­thropy and to his milken in­sti­tute think tank. he’s long held lead­er­ship roles. at Uc berke­ley he was pres­i­dent of sigma al­pha mu fra­ter­nity. he switched his col­lege ma­jor from math and science to busi­ness af­ter wit­ness­ing the 1965 watts riot in los an­ge­les, with the goal of de­moc­ra­tiz­ing ac­cess to cap­i­tal.

Mike Milken (front row, cen­ter) pic­tured with his Sigma Al­pha Mu fra­ter­nity broth­ers.

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