It may not be quite as catchy a title, but the man who earned himself the label of Junk Bond King in the 1980s is rebranding himself the SME advice king. Michael Milken was the pioneer of the high yield bond market who gained infamy following his imprisonment in 1989 on felony charges and plaudits since for his philanthropic work.
He is now understood to be a major backer of Bizmore, a start-up website that aims to provide expert answers to questions posed by executives of small and medium-sized businesses. Milken partly owns Vistage, a San Diego-based executive coaching and networking organisation that is believed to have seed financed Bizmore to the tune of $10 million. According to the New York Times, Milken was “instrumental in the founding and financing of Bizmore”.