Home / Business and Economy / Prostate Cancer Crusader: Michael Milken's Decades-Long Fight to Advance Medical Research
Prostate Cancer Crusader: Michael Milken's Decades-Long Fight to Advance Medical Research
17 Nov
Summary
- Financed over 3,000 companies, enabling entrepreneurs and job creators
- Funded groundbreaking projects like CNN and nationwide cellphone networks
- Established the Prostate Cancer Foundation, leading to 14 new therapies
As of November 2025, Michael Milken, now 79 years old, has maintained a remarkable legacy as a visionary financier and philanthropist. Over the course of his career, Milken financed more than 3,000 companies, with a particular focus on providing entrepreneurs and job creators with the capital they needed to grow their businesses.
Milken's foresight and adaptability have been instrumental in shaping entire industries. In 1980, when entrepreneur Ted Turner sought to launch the 24-hour news channel Cable News Network (CNN), many were skeptical of the idea. However, Milken recognized the potential and financed the venture, which went on to become a global powerhouse and transform the news industry. Similarly, in 1989, Milken directed the financing for McCaw Cellular, enabling the regional network of radio and television stations to become a nationwide cellphone carrier, a move that "changed the world" according to Milken.
Milken's philanthropic efforts have been equally impactful. In 1982, he established the Milken Family Foundation, which has collaborated with over 1,000 organizations to support children's well-being and healthcare. Most notably, in 1993, Milken founded the Prostate Cancer Foundation, which has since become the world's largest philanthropic funder of prostate cancer research. The foundation's efforts have led to 14 new prostate cancer therapies being approved by the FDA, and the death rate from the disease has been cut in half.
