Ten big ideas to change the world

What happens when you put 150 altruistic billionaires, legendary entrepreneurs and Nobel Prize-worthy gamechangers in one room for a day to talk about ways to give smart and better? Some disruptive ideas regarding philanthropy
Curated By: Forbes
Published: Jan 13, 2016
Ten big ideas to change the world

Image by : Michael Prince for Forbes

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  • Ten big ideas to change the world
  • Ten big ideas to change the world
  • Ten big ideas to change the world
  • Ten big ideas to change the world
  • Ten big ideas to change the world
  • Ten big ideas to change the world
  • Ten big ideas to change the world
  • Ten big ideas to change the world
  • Ten big ideas to change the world
  • Ten big ideas to change the world
Michael Milken
Founder, The Milken Institute

Focus on Up-and-Comers

there’s an old saying about youth that michael milken undoubtedly hates—that it is wasted on the young. Thinking back on his 40 years of philanthropy, he says, “The highest rate of return on my philanthropic dollar has been to support young scientists and young investigators.” For this reason, he tries to fund the work of only fresh minds—giving $75,000 annually for three years to scientists who are no more than six years removed from completing a professional degree or clinical training. “They’re 33 years old. Who’s going to support their lab? You can direct some of the most talented people in the world and encourage them.” Ironically, he says, funding more established names hasn’t been as rewarding. “We’ve gotten a very low return funding those at the peak of their careers.” Presumably because it takes much more money to secure the same type of motivation that is visible in their younger colleagues.