The Milken Institute is an independent economic

think tank A think tank, or public policy institute, is a research institute that performs research and advocacy concerning topics such as social policy, political strategy, economics, military, technology, and culture. Most think tanks are non-governme ...

based in

Santa Monica, California Santa Monica (; Spanish language, Spanish: ''Santa Mónica'') is a city in Los Angeles County, California, Los Angeles County, situated along Santa Monica Bay on California's South Coast (California), South Coast. Santa Monica's 2020 United Sta ...

, 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 US and internationally. The institute is a

501(c)(3) A 501(c)(3) organization is a United States corporation, Trust (business), trust, unincorporated association or other type of organization exempt from federal income tax under section 501(c)(3) of Title 26 of the United States Code. It is one of ...

nonprofit organization and presents itself as nonpartisan and non-ideological.

History

The institute was founded in 1991 by

Michael Milken Michael Robert Milken (born July 4, 1946) is an American financier. He is known for his role in the development of the market for High-yield debt, high-yield bonds ("junk bonds"), and his conviction and sentence following a guilty plea on felony ...

, a former

Drexel Burnham Lambert Drexel Burnham Lambert Inc. was an American multinational investment bank that was forced into bankruptcy in 1990 due to its involvement in illegal activities in the junk bond market, driven by senior executive Michael Milken. At its height, i ...

banker who gained notoriety for significant financial success as a pioneer of "

junk bonds In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade by credit rating agencies. These bonds have a higher risk of default or other adverse credit even ...

" as well as his subsequent felony conviction and prison sentence for U.S. securities law violations.

Research

The institute has published studies relating to

human capital Human capital or human assets is a concept used by economists to designate personal attributes considered useful in the production process. It encompasses employee knowledge, skills, know-how, good health, and education. Human capital has a subs ...

, access to capital, financial structures and innovations, regional economics, healthcare economics and

medical research Medical research (or biomedical research), also known as health research, refers to the process of using scientific methods with the aim to produce knowledge about human diseases, the prevention and treatment of illness, and the promotion of ...

. It hosts a series of conferences including two annual conferences, a variety of financial innovation labs and a series of forums and private events. The Milken Institute Global Conference, first held in 1998, is an annual forum focused on economic and social issues. 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.

Tax policy

The institute has held several events regarding opportunity zones created by the

Tax Cuts and Jobs Act of 2017 The Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018, , is a congressional revenue act of the United States originally introduced in Congress as the Tax Cuts and Jobs ...

. In May 2018, Treasury Secretary

Steven Mnuchin Steven Terner Mnuchin ( ; born December 21, 1962) is an American investment banker and film producer who served as the 77th United States secretary of the treasury as part of the first cabinet of Donald Trump from 2017 to 2021. Serving for nearl ...

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 Beverly Hills is a city located in Los Angeles County, California, United States. A notable and historic suburb of Los Angeles, it is located just southwest of the Hollywood Hills, approximately northwest of downtown Los Angeles. Beverly Hil ...

with Michael Milken. Milken was already an investor in the Nevada tract. In August 2018, Mnuchin attended an Institute conference on opportunity zones in

the Hamptons The Hamptons, part of the East End (Long Island), East End of Long Island, consist of the town (New York), towns of Southampton (town), New York, Southampton and East Hampton (town), New York, East Hampton, which together compose the South Fork ...

with Milken and later accepted a flight to Los Angeles with Milken on his private jet. Treasury later issued a regulatory guidance at the institute's request that allows prior investors to benefit from newly designated opportunity zones.

2024 Global Conference

In May 2024, the Milken Institute held its 27th Global Conference in

Los Angeles Los Angeles, often referred to by its initials L.A., is the List of municipalities in California, most populous city in the U.S. state of California, and the commercial, Financial District, Los Angeles, financial, and Culture of Los Angeles, ...

, focusing on topics such as geopolitical tensions, climate change, and

artificial intelligence Artificial intelligence (AI) is the capability of computer, computational systems to perform tasks typically associated with human intelligence, such as learning, reasoning, problem-solving, perception, and decision-making. It is a field of re ...

. Notable speakers included

Javier Milei Javier Gerardo Milei (born 22 October 1970) is an Argentine politician and economist who has served as President of Argentina since 2023. Milei also served as a national deputy representing the City of Buenos Aires for the party La Libertad ...

, President of

Argentina Argentina, officially the Argentine Republic, is a country in the southern half of South America. It covers an area of , making it the List of South American countries by area, second-largest country in South America after Brazil, the fourt ...

; Queen Rania of

Jordan Jordan, officially the Hashemite Kingdom of Jordan, is a country in the Southern Levant region of West Asia. Jordan is bordered by Syria to the north, Iraq to the east, Saudi Arabia to the south, and Israel and the occupied Palestinian ter ...

; former

U.S. President The president of the United States (POTUS) is the head of state and head of government of the United States. The president directs the Federal government of the United States#Executive branch, executive branch of the Federal government of t ...

Bill Clinton William Jefferson Clinton (né Blythe III; born August 19, 1946) is an American politician and lawyer who was the 42nd president of the United States from 1993 to 2001. A member of the Democratic Party (United States), Democratic Party, ...

;

Kristalina Georgieva Kristalina Ivanova Georgieva-Kinova (; ; born 13 August 1953) is a Bulgarian economist who has served as the 12th managing director of the International Monetary Fund since 2019. She is the first person from an emerging market economy to lead ...

, Managing Director of the

International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 191 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of las ...

; and former

Prime Minister of the United Kingdom The prime minister of the United Kingdom is the head of government of the United Kingdom. The prime minister Advice (constitutional law), advises the Monarchy of the United Kingdom, sovereign on the exercise of much of the Royal prerogative ...

Theresa May Theresa Mary May, Baroness May of Maidenhead (; ; born 1 October 1956), is a British politician who served as Prime Minister of the United Kingdom and Leader of the Conservative Party from 2016 to 2019. She previously served as Home Secretar ...

. Asha Jadeja, founder of the Motwani Jadeja Foundation, was also a speaker, addressing themes related to India's economic emergence. The foundation was among the sponsors of the event.

References

External links