Tuesday, July 18, 2023

Billionaire Michael Milken Pouring $1 Billion into Think Tank, Related Entities

Here is more from the Wall Street Journal: 

The wealth that [billionaire Michael] Milken has achieved, through his own investments and those made by his family office, speaks to the scale and success of his comeback. He has poured $500 million of his fortune into establishing the D.C. complex, which sits across the street from the U.S. Treasury and catty-corner from the White House and will house a public exhibition space known as the Milken Center for Advancing the American Dream, in addition to conference and event spaces and offices for his Milken Institute think tank.

Since as early as 2009, Milken has been contemplating a physical space dedicated to highlighting the goals of his think tank, according to Michael Klowden, former CEO of the Milken Institute who organized much of the planning for the Milken Center. Milken had originally conceived of it as a library and began looking at real estate in California. Only later did he decide that the facility, which is expected to cost over $1 billion, should be located in Washington, where much of the Milken Institute’s policy work is centered.   


Milken's think tank will be the closest think tank to the White House, the perfect location to continue influencing the US president and related agencies on taxes.