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Lowell Milken
Lowell Milken in 2009
BornLowell Jay Milken
(1948-11-29) November 29, 1948 (age 76)
Encino, California
Alma materUniversity of California, Berkeley
UCLA School of Law
Occupation(s)Businessman, philanthropist
FamilyMichael Milken (brother)
Websitehttp://lowellmilken.com

Lowell Jay Milken (born November 29, 1948) is co-founder of Knowledge Universe, a provider of early childhood education. He is also the founder of the TAP System for Teacher and Student Advancement as well as co-founder and chairman of the Milken Family Foundation. Milken is a former senior vice-president in the junk bond trading operation of Drexel Burnham Lambert, headed by his brother Michael Milken.

Over the past three decades, Lowell Milken has founded additional nonprofit organizations, including the Lowell Milken Family Foundation and the Lowell Milken Center. In 2000, he was named one of America's most generous philanthropists by Worth.

Early life

Lowell Jay Milken was born on November 29, 1948, in Los Angeles and grew up in Encino, California. He is the second son of Bernard and Ferne Milken; his older brother Michael was born in 1946 and a sister Joni born in 1958. The family moved to the San Fernando Valley in 1953, where Lowell attended schools in the California public school system including Hesby Elementary School in Encino, Portola Junior High School in Tarzana, and Birmingham High School in Van Nuys.

Lowell Milken graduated Phi Beta Kappa and with highest honors from the University of California, Berkeley. He earned a law degree from the University of California, Los Angeles, with distinctions of Order of the Coif and UCLA Law Review.

Business career

After graduating from UCLA Law, Lowell joined the law firm of Irell & Manella in the fall of 1973 as an associate and specialized in business and tax law in the Los Angeles-based office.

In 1979, he joined Drexel Burnham Lambert's High Yield and Convertible Bond Department, also known as the "junk bond" department. He served as a departmental senior vice-president until he resigned in 1989. His duties were reported to be "mostly administrative," but he also provided financial analysis of companies. He was not a registered representative with any securities exchange.

In March 1989, after a long investigation of Lowell's brother Michael Milken, the government issued a 98-count indictment of Michael Milken, who was charged with racketeering and a "long list of mail, wire and securities frauds." The indictment also named Lowell in two charges of racketeering and 11 counts of fraud. Michael Milken, in a plea bargain deal, pleaded guilty and went to prison. As part of that deal, the government dropped charges against Lowell Milken, but in March 1991, he was barred from working in the securities industry as part of a settlement with the Securities and Exchange Commission.

It has been suggested that the government indicted Lowell in order to put pressure on Michael Milken to settle the case against him, a tactic condemned as unethical by some legal scholars. "I am troubled by – and other scholars are troubled by – the notion of putting relatives on the bargaining table," said Vivian Berger, a professor at Columbia University Law School, in a 1990 interview with the New York Times. In articles in the Los Angeles Times and The New York Times published in 1990, Lowell was characterized as an "unassuming family man" being used as a "bargaining chip," indicted only to put pressure on his brother.

After years in the planning stages, in 1996, Lowell co-founded Knowledge Universe with Michael Milken and Larry Ellison. In 2003, they became the sole owners of the company. In the United States, Knowledge Universe is the largest early childhood education company and operates under the KinderCare Learning Centers, Knowledge Beginnings, CCLC, The Grove School, Champions and Cambridge Schools brands. Internationally, it oversees early childhood education, K-12 education and post-secondary education programs and is headquartered in Singapore. Lowell continues to serve as vice-chairman of Knowledge Universe Education and he is Chairman of Knowledge Universe Education Holdings Inc.

Philanthropy

Main article: Milken Family Foundation

Lowell Milken is co-founder and chairman of the Milken Family Foundation.

First presented by Lowell Milken in 1987, the Milken Educator Awards program works with state departments of education to identify teachers, principals and education specialists who are improving student achievement, making significant contributions to a school's level of excellence and elevating the teaching profession. In 2017–18, 45 new honorees will join the National Milken Educator Network, a group of over 2,700 outstanding eductors who have received the Milken Educator Award.

In 1999, Lowell Milken founded the TAP System for Teacher and Student Advancement, a comprehensive school reform currently impacting more than 250,000 educators and 2.5 million students across the country. The system is based on four integrated and aligned elements: Multiple careers paths, continuous school-based professional development, instructionally-focused teacher evaluation, and performance-based compensation for educators. In 2005, Lowell founded an independent public charity to support and manage the TAP System, The National Institute for Excellence in Teaching (NIET), and has since served as its Chairman.

The Lowell Milken Center was established by Lowell Milken in 2007 in partnership with Kansas Milken Educator Norman Conard. The public nonprofit organization discovers, develops and communicates the stories of unsung heroes who have made a profound and positive difference on the course of history and includes a 6,000-square-foot museum space with permanent and rotating exhibitions.

In 1990, Lowell Milken founded the Milken Archive of Jewish Music, a project to preserve music of the American Jewish experience.

Lowell Milken has partnered with the Prostate Cancer Foundation to present the Lowell Milken Prostate Cancer Foundation Young Investigator Award to scientists for work in the field of prostate cancer.

Lowell Milken established the Lowell Milken Family Foundation in 1986 to support and provide funding for organizations and initiatives that strengthen communities through education and lifelong learning.

The Lowell Milken Institute for Business Law and Policy was founded at UCLA School of Law in 2011.

Awards

The Education Commission of the States (ECS) honored Lowell Milken as the 2017 recipient of the James Bryant Conant Award on June 29, 2017. The award is named for the co-founder of Education Commission of the States and former president of Harvard University, and recognizes outstanding individual contributions to American education. In May 2015, Lowell Milken accepted an honorary Doctorate of Humane Letters from Chapman University's George L. Argyros School of Business and Economics. Lowell was honored as UCLA Law 2009 Alumnus of the year for his accomplishments in public and community service, particularly in the area of education and school reform. In 2009, Hebrew Union College presented Lowell with a Doctor of Humane Letters, honoris causa, in Los Angeles. In 2004, Lowell was honored by the Jewish Theological Seminary of America during the event "Only in America: Jewish Music in a Land of Freedom." In 2000, Lowell Milken was named one of America's most generous philanthropists by Worth Magazine. Lowell Milken's work in business and philanthropy has been recognized by the National Association of State Boards of Education, the Horace Mann League and the National Association of Secondary School Principals.

References

  1. "Lowell Milken & $25,000 for Exceptional Teachers". Talking Note. 2009. Archived from the original on June 2, 2014.
  2. "The World's Billionares". Forbes. March 5, 2008. Archived from the original on June 2, 2014.
  3. "Lowell Milken Executive Profile". Bloomberg Businessweek.
  4. Paltrow, Scot (September 8, 1988). "Lowell Milken's Role at Drexel Varied, Vague". Los Angeles Times.
  5. Adamson, L., Albo, A., Barrett, A., Good, R., Keating, S., Pennell, A., Silver, D., & Stewart, J. (April 2000) The 100 Most Generous Americans. Worth Magazine, pg 140
  6. Fatsis, Stefan (April 16, 1989). "The Other Milken: Quiet, Unprepossessing, Indicted". The Associated Press. Retrieved October 2, 2019.{{cite web}}: CS1 maint: url-status (link)
  7. ^ "Lowell Milken Biography". LowellMilken.com. Retrieved October 2, 2019.{{cite web}}: CS1 maint: url-status (link)
  8. ^ Kornbluth, Jesse (August 1, 1992). Highly Confident: The Crime and Punishment of Michael Milken. Morrow. p. 34. ISBN 9780688109370.
  9. "High Tech High Learning Newsletter". January 2005. Archived from the original on May 4, 2006.
  10. Madnick, Wendy J. (April 14, 2005). "A Brave New High School". Jewish Journal. Retrieved October 2, 2019.{{cite web}}: CS1 maint: url-status (link)
  11. ^ Paltrow, Scot J. (September 1988). "Lowell Milken's Role at Drexel Varied, Vague". Los Angeles Times.
  12. Frantz, Douglas (January 26, 1989). "Lowell Milken Is Much More Than Older Brother's Shadow". Los Angeles Times.
  13. "U.S. Sees New Milken Indictment". The New York Times. August 1989.
  14. ^ Kristof, Kathy M. (April 21, 1990). "MILKEN'S GUILTY PLEA : For Lowell Milken, Michael's Brother, the Case Is Closed". Los Angeles Times.
  15. "Milken's Brother Barred". The New York Times. Associated Press. December 4, 1991.
  16. "Exchange Hearing Panel Decision 91-168" (PDF). New York Stock Exchange. September 13, 1991.
  17. Kurt Eichenwalk (May 6, 1990). "Tactics in Wall Street Cases Troubling Some Lawyers". The New York Times.
  18. Kurt Eichenwald (October 15, 1990). "Business and the Law; U.S. Treatment Of Milken Brother". The New York Times.
  19. Stephen Pizzo (September 10, 2011). "Master of the Knowledge Universe". Forbes.com.
  20. Linda Baker (February 2011). "Knowledge Universe reaches $1.6 billion in revenue". Oregon Business. Archived from the original on February 7, 2011.
  21. "Lowell Milken Co-Founder of Knowledge Universe – Knowledge Universe". Kueducation.com. Retrieved March 29, 2012.
  22. Spacek, Rachel (December 25, 2018). "Henderson teacher given coveted Milken Educator Award". Las Vegas Review-Journal. Retrieved May 14, 2019.
  23. Rick Rojas (November 18, 2010). "Award stuns third-grade teacher". Los Angeles Times.
  24. "Knoxville teacher one of two in Tennessee to win $25,000 Milken Educator Award". Knoxville News Sentinel. Retrieved December 7, 2017.
  25. "G. W. Carver Principal Latitia Johnson among educators to meet with US Education Secretary DeVos". Pelican Post – Online Newspaper. July 21, 2017. Retrieved December 7, 2017.
  26. "TAP's Impact". Tapsystem.org. Retrieved March 29, 2012.
  27. "the TAP system". Arizona State University.
  28. "About NIET Chairman". niet.org.
  29. "Aikin Elementary receives $5,000 national award". yourhoustonnews.com. March 12, 2012.
  30. Silvers, Jason E. (December 17, 2009). "Fort Scott Tribune: Local News: Milken Center reaches all 50 states (12/17/09)". Fstribune.com. Retrieved March 29, 2012.
  31. http://www.washingtontimes.com, The Washington Times. "Lowell Milken Center for Unsung Heroes to open May 24 in Kansas". The Washington Times. Retrieved October 17, 2016. {{cite news}}: External link in |last= (help)
  32. "The Milken Archive of Jewish Music: The American Experience". Milkenarchive.org. Retrieved March 29, 2012.
  33. "Genome scientist Dr. Jay Shendure receives Prostate Cancer Foundation Young Investigator Award". Washington.edu. April 15, 2010. Retrieved March 29, 2012.
  34. "LMFF The Lowell Milken Family Foundation". LMFF Lowell Milken Family Foundation.
  35. Lowell Milken Institute Website
  36. "Lowell Milken and Education Philanthropy | Web Exclusive | The Line K-12". The Line K-12. August 10, 2017. Retrieved January 22, 2018.
  37. "Awards". www.ecs.org. Retrieved January 22, 2018.
  38. "05/23/15 George L. Argyros School of Business and Economics Commencement". ibc.chapman.edu. Retrieved October 17, 2016.
  39. "June 2009". Law.ucla.edu. Retrieved March 29, 2012.
  40. "Lowell Milken to Receive Doctor of Humane Letters, honoris causa, at Hebrew Union College-Jewish Institute of Religion Graduation Ceremonies". Hebrew Union College.
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