Michael Milken
Source of wealth: Investments
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The scale of their wealth
Health
The price of life
Let's compare Michael Milken's fortune with the healthcare spending of a massive country
Michael Milken could fund the entire healthcare system of DR Congo, with a population of over 105,800,000 people, for approximately 3.4 years.
But even if we compare their fortune with that of a rich country
On the other end, Michael Milken could cover the healthcare spending of Luxembourg, considered the most heavily funded healthcare system in the world, for 1.5 years.
Education
Buying the future
Let's also compare their fortune with education spending, first with a poor country
Michael Milken could cover the total cost of Nigeria's education system, the most populous country in Africa with over 243,000,000 inhabitants, for 2.2 years.
And yes, we can also compare it with a rich country
But they couldn't just cover the cost of a poor country; Luxembourg is considered the country with the highest per capita investment in education in the world, and Michael Milken could pay for it entirely for 3.0 years.
Research
The monopoly on progress
Coming full circle, we think it's also interesting to add another gigantic country
Michael Milken could fully fund the state research budget of Pakistan, the fifth most populous country in the world with over 260,000,000 inhabitants, for 12.6 years.
And of course, the country that invests the most per capita worldwide
But even if we compare the total wealth of Michael Milken with Israel, the country that invests the most per capita in research in the world, they could cover the total cost of the system for 0.3 years.
Gold
Everyday luxuries
Michael Milken's fortune is equivalent to 51 tons of gold. It's hard to process, since we don't usually keep a handful of gold bars in our piggy banks.
A standard gold ring usually weighs between 4 and 7 grams. Let's say this one weighs 5 grams. It's usually 18 karats.
Based on today's gold price (excluding the jeweler's commission, shipping, or anything else), that ring would be worth $546.86.
Michael Milken could buy 13,663,544 gold rings. That's a lot of fingers and way too many gifts!!
And if you're struggling to visualize that many rings, it would take 2 trucks to transport them. Although Michael Milken will almost certainly have enough money left over to pay for the gas.
Biography
Mike Milken joined what became investment bank Drexel Burnham Lambert in 1969 and expanded the market for high-yield junk bonds.
He was banned from the securities industry after pleading guilty to securities fraud in 1990. In February 2020, President Trump pardoned him.
Milken chairs the Milken Institute think tank, which produces the annual Milken Global Conference in Los Angeles, the Davos of the West Coast.
His investments include private equity, hedge funds, venture capital and more than one asset management firm.
He's donated $500 million of his fortune on the Center For Advancing The American Dream in Washington DC, which including outside funding is expected to cost $1 billion.
Financial Assets
Monthly wealth history
Fortune comparison
Historical data not available for comparison