Milken, Michael

From Astro-Databank
Jump to: navigation, search
Name
Milken, Michael Gender: M
Michael Robert Milken
born on 4 July 1946 at 07:31 (= 07:31 AM )
Place Los Angeles, California, 34n03, 118w15
Timezone PST h8w (is standard time)
Data source
Quoted BC/BR
Rodden Rating AA
Collector: Holliday
Astrology data s_su.18.gif s_cancol.18.gif 12°02' s_mo.18.gif s_vircol.18.gif 23°41 Asc.s_leocol.18.gif 15°25'



Michael Milken

Biography

American stockbroker who made a fortune, $550 million in 1987 alone, through insider trading as a junk-bond king. A biography of his life has been written entitled "Highly Confident: The Crime And Punishment Of Michael Milken." In 1989 he was indicted on 98 counts of racketeering and securities fraud. In April 1990 he pleaded guilty to six felonies, including illegally concealing stock positions, helping clients evade income taxes and a conspiracy, involving secret record-keeping with stock speculator Ivan Boesky.

The man who came to personify the ruthlessness and greed of the '80s began serving his time in February 1991. In August 1992 Judge K.M. Wood reduced Milken's ten-year sentence to two years in a minimum-security work camp and, after 22 months in prison and one month in a half-way house, he was out on parole. By January 1993 he was once again living in his Encino home. He ended up paying a $200 million fine plus $400 million to the government for restitution, and he paid another $500 million to settle civil lawsuits.

Milken was a child prodigy, the rare one who was an intuitive genius who still applied himself. The first born, he was encouraged and pushed by his highly supportive parents, an accountant and a housewife. They produced an outgoing but straitlaced, aggressive but sentimental boy, the image of the 1950s sitcom family. The kids were taught the value of money, but to always help others in need. School was easy; he was not only a math whiz but a sports champion on the basketball team. His combination of brains, good manners, social awareness and enormous energy made Milken successful in every area of school life. He was prom king, wrote for the paper and participated in service organizations.

At Berkeley in 1967, he first began investigating bond sales. After graduating summa cum laude, he married fellow high school student Lori in August 1968. He was soon named head of bond research at the investment firm of Drexel Burnham Lambert and began his winning streak. In 17 years of trading, he had just three losing months. Trading, for Milken, was a matter of doing his homework and being unafraid of going against the market. He was also a genius at credit analysis.

In 1975, tragedy struck when his son Gregory had his first seizure: epilepsy that eventually afflicted all three of his kids. Misdiagnosed and given spinal taps and antibiotics, the boy nearly died. When epilepsy was diagnosed a month later at another hospital, naturally Milken learned everything possible about the disability. The following year, his dad got cancer. In order to be close to his dad, Milken moved his family and entire department to Los Angeles.

On 2/23/1993 it was announced that he had developed prostate cancer, a fact discovered after his release from prison. With treatment, the cancer went into remission.

An idealist at heart, Milken never could stop helping people. With interests involved in education-related charities, his companies last year's donations amounted to $10 million. Knowledge Universe was launched with about $500 million in capital and had sales of more than $1 billion in 1997. His mission statement is simply to revolutionize learning and turn a profit. His company has been put on a short list of bidders for Simon & Schuster. Milken has predicted that this market will grow as quickly as health care with the explosion of school enrollments and the interest of both child and adult education. Simon & Schuster not only represent publication of educational books but also curriculum software.

During the last few weeks of his presidential term, Bill Clinton considered giving Milken a full pardon but the government's top securities-law officials and federal prosecutors strongly blocked the move, saying the "few people have done more than Milken to undermine public confidence in our markets."

Link to Wikipedia biography

Events

  • Relationship : Marriage August 1968 (Married fellow H.S. student Lori)
    chart Placidus Equal_H.
  • Family trauma 1975 (Son, Gregory, had first seizure)
  • Financial : Gain significant money July 1987 (Made $550 million through inside trading)
    chart Placidus Equal_H.
  • Financial Crime Perpetration 1989 (Indicted on 98 counts of securities-law violation)
  • Crime : Trial dates April 1990 (Pleads guilty to six counts, 10 year sentence)
    chart Placidus Equal_H.
  • Social : Institutionalized - prison, hospital 1991 (Minimum security)
  • Social : Deinstitutionalized - prison, hospital January 1993 (Parole)
    chart Placidus Equal_H.
  • Health : Medical diagnosis 23 February 1993 (Prostate cancer)
    chart Placidus Equal_H.
  • Other Crime 1996 (New probe, probation extension)
  • Other Financial 1997 (Funds cancer research)
  • Financial : Gain significant money 1997 (Company had $1 billion in sales)
  • Health : Begin remission 1998 (Cancer in remission)
  • Social : Change of Lifestyle 1 March 1998 (Probation ends)
    chart Placidus Equal_H.

Source Notes

B.C.in hand from Dana Holliday

Categories

  • Traits : Body : Hair (Bald, wore a wig for years)
  • Traits : Mind : Child prodigy (Mentally gifted kid)
  • Traits : Mind : I.Q. high/ Mensa level (Mensa level at least)
  • Traits : Personality : Ambitious
  • Traits : Personality : Gracious/ sociable
  • Traits : Personality : Unique
  • Diagnoses : Major Diseases : Cancer (Prostate, remission)
  • Family : Childhood : Family extraordinarily supportive
  • Family : Childhood : Family traumatic event (Dad prostate cancer while Mike in prison)
  • Family : Childhood : Order of birth (First born)
  • Family : Relationship : Number of Marriages (One)
  • Family : Parenting : Kids 1-3 (Three)
  • Family : Parenting : Kids -Traumatic event (All three kids epilepsy)
  • Lifestyle : Work : Self-employed
  • Lifestyle : Work : Stressful work (Stockbroker, owner of company)
  • Lifestyle : Financial : Loss - Financial crisis ($1.1 billion in fines and restitution)
  • Lifestyle : Financial : Philanthropist (Funds cancer research)
  • Lifestyle : Financial : Wealthy (Billionaire)
  • Lifestyle : Social Life : Groups (Service groups)
  • Passions : Criminal Perpetrator : Civil/ Political (98 counts, racketeering and securities fraud)
  • Passions : Criminal Perpetrator : Prison sentence (Ten years, reduced to two)
  • Passions : Criminal Perpetrator : Thief/ Financial crime (Cost investors over $1 billion)
  • Passions : Criminal Victim : Lawsuit sued (By junk bond victims)
  • Vocation : Business : Business owner (Knowledge Universe, learning company)
  • Vocation : Business : Middle Management (Owner of company)
  • Vocation : Business/Marketing : Stockbroker (Junk-bond king)
  • Notable : Extraordinary Talents : For Motivating/Selling
  • Notable : Famous : Criminal cases (High profile white-collar crime, book written)
  • Notable : Famous : Newsmaker (In the news before, during and after crime)
  • Notable : Famous : Top 5% of Profession