Greed may no longer be good, and the Predator's Ball label may not apply, but this year's Milken Institute Global Conference is most definitely rooted in capitalism — even if subjects like rising inequality and socialism are now part of the conversation.
Michael Milken leads a discussion at the Milken Institute Global Conference in Beverly Hills in 2018.
Whether the comparison to Switzerland’s World Economic Forum is hyperbole — the heads of state quotient doesn’t compare and there are other prestigious U.S. economic summits, including the Allen & Co. invitation-only event in Sun Valley, Idaho — it would be a misnomer to call the present-day Milken conference Predator’s Ball 2.0.
The talks reflect the broader values of the Milken Institute, the nonprofit think tank the L.A. billionaire founded in 1991, the same year he was banned from the securities industry for life after pleading guilty to securities fraud. Its mission is to “increase global prosperity by advancing collaborative solutions that widen access to capital, create jobs and improve health.”
The closing session, one of several hosted by Milken himself, features a talk with Ray Dalio, a Greenwich, Conn.
“You put people in a room who might never have the opportunity to meet one another and they get to bring their perspectives to various issues,” he said.But for all the opportunity to broaden intellectual horizons, the primary driver for many is probably the chance to mix and mingle with attendees including entertainment honcho Jeffrey Katzenberg, leading American businesswoman Lynda Resnick and Transportation Secretary Elaine Chao.
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