Like his father, Milton proved to be an accomplished businessman and made a small fortune on various investments ranging in everything from a gym and tanning salon in Stockholm to various imports of everything from pantyhose to wristwatches as well as real estate deals in Spain. Milton himself has described his upbringing by his father as harsh and loveless, and though he vowed to never get into the porn business, he eventually took over Private Media Group in 1991.
Since his takeover, Milton has expanded the company into videos and DVDs, and established websites. He has also overseen licensing the company's name for commercial products, including condoms.
The lives and career of Milton Sr. and Jr. has been the topic of the biography Private med Milton och Milton ("Private with Milton and Milton") by the Swedish journalist Thomas Sjöberg.