Lowell Milken

Lowell Jay Milken
Born	(1948-11-29) November 29, 1948 Los Angeles, California, U.S.
Occupation(s)	Entrepreneur, philanthropist
Known for	Co-founder and chairman of the Milken Family Foundation; founder of National Institute for Excellence in Teaching; co-founder of Knowledge Universe; founder of Milken Educator Awards

Lowell Jay Milken (born November 29, 1948) is an American entrepreneur, philanthropist, and the co-founder and chairman of the Milken Family Foundation. He established the National Institute for Excellence in Teaching as well as the TAP System for Teacher and Student Advancement. Additionally, he co-founded Knowledge Universe, which was the world’s largest provider of early childhood education from 2005 until 2016. Milken is widely acknowledged for his influential role in reforming K-12 education in the United States and was honored with the James Bryant Conant Award in 2017 for his educational contributions.

He has also launched several nonprofit entities, including the Lowell Milken Family Foundation and the Lowell Milken Center for Unsung Heroes. In 2000, Worth magazine recognized him among America's most generous philanthropists. For seven consecutive years, he has been featured in the Los Angeles Business Journal’s LA500 list as one of Los Angeles's most powerful executives.

Earlier in his career, Milken held the position of senior vice president in the high-yield debt division at Drexel Burnham Lambert, which was led by his brother Michael Milken before the company’s collapse in 1990.

In 1985, he initiated the Milken Educator Awards, a leading national program that honors exceptional teachers.

Early life

Born on November 29, 1948, in Los Angeles, Lowell Jay Milken grew up in Encino, California. He is the second child of Bernard and Ferne Milken; his elder brother Michael was born in 1946, followed by sister Joni in 1958. The family relocated to the San Fernando Valley in 1953. Lowell attended public schools within the LAUSD system, including Hesby Elementary School in Encino, Portola Junior High School in Tarzana, and Birmingham High School located in Van Nuys.

Milken graduated Phi Beta Kappa and summa cum laude from the University of California, Berkeley, where he earned the highest academic honor awarded to a business student. He then completed a J.D. degree at the University of California, Los Angeles, where he was inducted into the Order of the Coif and served as an editor for the UCLA Law Review. He graduated within the top ten percent of his law school class.

Business career

Following his graduation from UCLA Law, Milken began his legal career at Irell & Manella, focusing on business and tax law. During his four years as an associate there, he distinguished himself through his expertise in tax-related case analyses.

In 1979, he joined Drexel Burnham Lambert’s High Yield and Convertible Bond Department—commonly referred to as the "junk bond" division—where his brother Michael had transferred operations. Lowell held the role of senior vice president until 1989, concentrating primarily on administrative responsibilities and financial analysis with a focus on bankruptcy and distressed asset situations, utilizing his tax law background. Notably, he was not a registered securities representative.

In March 1989, Michael faced indictment on 98 counts involving racketeering and fraud; Lowell was implicated in two racketeering charges and eleven fraud allegations. Michael pled guilty and served prison time; however, charges against Lowell were dismissed as part of Michael’s plea agreement. Despite this, Lowell was barred from participating in the securities industry following a 1991 SEC settlement. Some legal experts criticized this approach as a method to pressure Michael by targeting Lowell. Media portrayals described Lowell as a modest family man who became a "bargaining chip" during legal proceedings.

In 1992, Lowell financed a $1.6 million lawsuit against author James B. Stewart concerning statements made in Den of Thieves that accused him of submitting false affidavits during his defense. The court ruled that these statements were either true or substantially accurate and dismissed the lawsuit.

Milken has served as chairman of Heron International, a London-based real estate investment firm, for over two decades. He also leads National Realty Trust Inc., which is recognized as the largest owner of early childhood education centers in the United States. In 2020, National Realty Trust successfully raised $415 million through an equity offering and operates as a private real estate investment trust (REIT). Furthermore, Milken oversees property development projects exceeding $1.5 billion in Reno, Nevada—including the expansive 688-acre Comstock Commerce Center—a significant hub for advanced manufacturing and logistics.

In 1996, Lowell co-established Knowledge Universe alongside Michael Milken and Larry Ellison. By 2003, they had acquired full ownership. Knowledge Universe Education Holdings Inc. expanded to become America’s largest early childhood education company with operations under brands such as KinderCare Learning Centers and Knowledge Beginnings. Globally, it manages educational programs spanning early childhood through post-secondary levels from its headquarters in Singapore. Lowell held positions as vice chairman of Knowledge Universe Education and chairman of its parent holdings company. In July 2015, Knowledge Universe Education was sold to Switzerland-based Partners Group under undisclosed terms.

Philanthropy

Lowell Milken co-established the Milken Family Foundation in 1982 and currently holds the position of chairman. Four years later, in 1986, he launched the Lowell Milken Family Foundation, dedicated to supporting projects that enhance communities through education and lifelong learning opportunities.

In 1990, Milken initiated the Milken Archive of Jewish Music, an extensive collection that preserves and celebrates the musical heritage of the American Jewish community. This archive contains more than 600 recordings alongside 200 oral histories that document Jewish influences on American music.

Anticipating the rise of data-focused educational reform, Milken introduced the Milken Educator Awards in 1985 to honor exceptional K-12 teachers and promote careers in education. This award program has since become widely recognized as the leading national honor for educators, with Milken continuing to present these accolades annually.

In 1999, Milken penned an Op-Ed advocating for adaptable salary structures and career development as strategies to enhance teacher quality. That same year, he founded the Teacher Advancement Program (now known as the TAP System for Teacher and Student Advancement), which aims to boost teacher recruitment, retention, motivation, and effectiveness by offering career pathways, professional growth opportunities, accountability measures, and performance-based pay. Currently, TAP serves more than 275,000 teachers and benefits approximately 2.7 million students across the country.

To further support TAP’s mission, Milken established The National Institute for Excellence in Teaching (NIET) in 2005 and acts as its chairman. The initiative has earned national acclaim from educational leaders and was highlighted by President Barack Obama as a model program for federal education reform.

In collaboration with Kansas educator Norman Conard, Milken founded the Lowell Milken Center for Unsung Heroes in 2007. This nonprofit organization uncovers and shares stories of historically significant yet underrecognized individuals and manages a museum located in Fort Scott, Kansas.

Milken also collaborates with the Prostate Cancer Foundation to award the Lowell Milken Prostate Cancer Foundation Young Investigator Award, which supports promising researchers advancing prostate cancer studies.

His philanthropic contributions include a $10 million endowment establishing the Lowell Milken Institute for Business Law and Policy at UCLA School of Law in 2011. In 2014, he provided an initial $2 million gift to create the Hoffmitz Milken Center for Typography at ArtCenter College of Design, followed by an additional $2 million donation in 2017.

In 2020, Milken endowed $6.75 million to found the Lowell Milken Center for Music of American Jewish Experience at UCLA’s Herb Alpert School of Music. This center is dedicated to fostering research and initiatives related to this cultural legacy.

The following year, he contributed $3.7 million to inaugurate the Program on Philanthropy and Nonprofits at UCLA School of Law. This program emphasizes research, education, and policy development within the nonprofit sector and establishes UCLA as a prominent national hub for nonprofit governance studies and legal training.

Awards

In 2000, Worth magazine recognized Milken as one of America’s most generous philanthropists. His achievements in business and philanthropy have also been honored by organizations such as the National Association of State Boards of Education, the Horace Mann League, and the National Association of Secondary School Principals.

During the 2004 event "Only in America: Jewish Music in a Land of Freedom," Milken received commendation from the Jewish Theological Seminary of America for his foundational work on the Milken Archive. In 2009, he was awarded an honorary Doctor of Humane Letters by Hebrew Union College. That same year, UCLA School of Law named him Alumnus of the Year in recognition of his public service and efforts toward education reform.

In May 2015, Chapman University’s George L. Argyros School of Business and Economics bestowed upon him an honorary Doctorate of Humane Letters. The Education Commission of the States honored him with their prestigious James Bryant Conant Award in 2017 for his significant contributions to American education.

For eight years running, Lowell Milken has been featured among the Los Angeles Business Journal’s list of the top 500 most influential figures in Los Angeles.