Inside Milken’s Pine Paradise
WHEN 69-YEAR- OLD Michael Milken’s jet-set schedule allows him to be home in Los Angeles, he works from his airy, pine-paneled sixth-floor office in a Santa Monica building where the Milken Family Foundation and the Milken Institute (a think tank) have their headquarters. “Giving yourself to others is the most important thing. When you give, you get something in return,” says the financier, who was banned from the securities industry after pleading guilty to fraud in 1990. Armed with a $2.5 billion fortune, he has devoted his time to helping solve some of the world’s most intractable problems. Through his groups he has given hundreds of millions to everything from cancer research to public health to education reform and has created a Davos-like yearly conference in L.A. where the world’s power players discuss global issues.