Michael Milken of Drexel Burnham Lambert is generally credited with developing the junk-bond market, but today and especially since he was released from prison after serving time for racketeering and securities fraud, he’s become known as a wealthy philanthropist.
One of the ways he gives to charity is through the foundation he co-founded with his brother Lowell, The Milken Family Foundation. The foundation supports education and medical research.
According to its 990-PF for the fiscal year that ended in November 2023, which was filed in October 2024, The Milken Family Foundation had net assets of $116.3 million at the end of the year.
Capital gains and losses
For tax on investment income, The Milken Family Foundation notched...
