Michael Milken's annual investment conference in Beverly Hills is postponed til July amid coronavirus fears.
The Milken Institute conference is often dubbed “the Davos of the West” and draws several thousand business leaders, investors and others to listen to the latest investment tips and economic analysis — but it also has sessions focusing on health, the environment and other topics not directly related to business.This year’s Milken conference, which is on its 23rd year, would be the first since Milken, 73,by President Trump for six felony securities and tax violations he pleaded guilty to in 1990.
Milken served 22 months in jail and paid hundreds of millions of dollars in fines, restitution and lawsuit settlements. He also was banned for life from the securities industries, which the pardon did not reverse. Milken, who survived a prostate cancer diagnosis shortly after he was released from prison, has become a leading philanthropist, channeling more than $700 million into prostate research. He also founded the Milken Institute, a think tank that promotes capitalist solutions to global challenges. Milken had long campaigned for a pardon, and his philanthropic endeavors and commitment to global health were cited by his supporters as evidence he deserved one.
The institute’s last conference was held February in Abu, Dhabi, United Arab Emirates before the virus had spread throughout the U.S. It also held a California Policy Summit on Jan. 23 in Sacramento.Last year’s Beverly Hills conference drew more than 4,000 participants, including speakers Mick Mulvaney, recently replaced as Trump’s chief of staff; Christine Lagarde, then chairwoman of the International Monetary Fund; and hedge fund manager Ray Dalio.
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