Milken Gift to UCLA Causing Controversy

Long-time communal donor Lowell Milken, chair of the Milken Family Foundation, is once again having the appropriateness of a gift questioned by the receiving institution.

from The New York Times:

Milken’s Gift Stirs Dispute at U.C.L.A. Law School

When the U.C.L.A. School of Law announced a $10 million gift from Lowell Milken to establish a business law institute in his name earlier this month, the university described him as a “pioneer in education reform” and a “leading philanthropist.”

Behind the scenes, Mr. Milken’s big donation has set off an internal debate at the school. While many faculty members welcomed the money, one of the University of California, Los Angeles’s top business law professors has said the gift poses deep ethical problems and reputational risks, given Mr. Milken’s run-in with securities regulators two decades ago.