Mike Milken

Dubbed as the “Junk Bond King,” Michael Milken is a philanthropist and financial celebrity known for using high-yield junk bonds for corporate financing and mergers and acquisitions. A former felon, Milken amassed a tremendous personal fortune, but in 1989 he was indicted by a federal grand jury and eventually spent nearly two years in prison after pleading guilty to violating securities laws. While he is credited with founding the high-yield debt market, he was banned for life from the securities industry.