Milchan founded Regency Enterprises, which has produced more than 130 films, including Fight Club (1999) and 12 Years a Slave (2013).

From the 1960s to the 1980s, he worked for an Israeli intelligence unit, obtaining equipment and materials for Israel's nuclear program.

• He is a central figure in Case 1000, a corruption case against Israeli Prime Minister Benjamin Netanyahu involving gifts Milchan gave him.