The Milken Institute is an American independent, nonpartisan economic think tank based in Santa Monica, California, with offices in Washington, D.C., New York, Miami, London, Abu Dhabi, and Singapore. It publishes research and hosts conferences that apply market-based principles and financial innovations to social issues in the United States and internationally. The institute is a 501(c)(3) nonprofit organization and presents itself as non-ideological.[2][3]
The institute was founded in 1991 by Michael Milken,[4] a former Drexel Burnham Lambert banker who achieved financial success as a pioneer of "junk bonds,"[5] but attracted notoriety due to his subsequent felony conviction and prison sentence for U.S. securities law violations.[6][7] Milken formalized his philanthropic giving by founding the institute, with a mission to “increase global prosperity by advancing collaborative solutions that widen access to capital, create jobs, and improve health."[8]
Research and events
The institute has published studies relating to human capital, access to capital, financial structures and innovations, regional economics, healthcare economics, and medical research.[9][10][11] It hosts a series of conferences, including two annual conferences, financial innovation labs, forums, and private events. The Milken Institute Global Conference,[12] first held in 1998, is an annual forum focused on economic and social issues.[13][14] Speakers include figures from business, finance, government, education, and sports. The institute also hosts an annual State of the State Conference, which examines major issues facing the state of California with Milken joining elected officials in the state as a host speaker.[15]
Tax policy
The institute has held several events regarding opportunity zones created by the Tax Cuts and Jobs Act of 2017. In May 2018, Treasury SecretarySteven Mnuchin instructed his staff to accept a non-low-income tract in Storey County, Nevada as an Opportunity Zone shortly after attending an Institute event in Beverly Hills with Michael Milken.[16] Milken was already an investor in the Nevada tract.[16] In August 2018, Mnuchin attended an Institute conference on opportunity zones in the Hamptons with Milken and later accepted a flight to Los Angeles with Milken on his private jet.[16] Treasury later issued a regulatory guidance at the institute's request that allows prior investors to benefit from newly designated opportunity zones.[16]
In September 2025, Milken opened the Milken Center for Advancing the American Dream (MCAAD) in Washington, D.C., combining five buildings on 15th Street next to the White House.[23][24][25] An interactive museum, MCAAD's exhibits and galleries feature artists, entrepreneurs, and innovators in health and education, among others. The museum also highlights the U.S. financial system.[26]
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