Michael Milken (Financier)

Michael Milken is an American financier best known for his role in developing the market for high-yield bonds, often referred to as "junk bonds," during the 1980s. He introduced innovative financial strategies that allowed companies to raise capital more easily, significantly influencing corporate finance. Milken's success made him a prominent figure on Wall Street, but he faced legal issues in the late 1980s, resulting in an indictment for securities fraud. After serving time in prison, he shifted his focus to philanthropy and health research, becoming a notable advocate for cancer research and education.