Michael Milken (born 1946) was nicknamed the "junk bond king," after he pled guilty to charges that he amassed hundreds of millions of dollars through questionable financial dealings involving high-yield bonds. Milken served prison time then embarked on a life of legitimate business and philanthropic activity.

Michael Milken acquired a dubious reputation during the 1980s, when he pled guilty to illegal financial dealings that reaped millions of dollars in profits. He emerged from prison as a legitimate entrepreneur. His probation officer, Michalah Bracken, praised Milken and wrote in a probation report that "[Milken] has contributed a significant portion of his earnings to charitable concerns, while retaining a modest lifestyle without obvious trappings of wealth.... Among Milken's strengths are his inability to accept defeat, his total commitment, ... and his vision concerning business and society ... despite his fall, Milken is an individual still able to contribute to society and to create...