David Koch
Date of Birth: 03.05.1940
David Hamilton Koch - American businessman and engineer, billionaire. As of March 2017, he was ranked eighth among the richest people in the world by Forbes with a fortune of $48.3 billion.
Place of Birth. Education. Born on May 3, 1940, in Wichita, Kansas, USA, to the family of Fred Koch, founder of Koch Industries. Besides Charles, he has two other brothers, Frederick and William. Today, he is co-owner and Executive Vice President of Koch Industries.
David received a technological education and became a Master of Chemical Engineering. He was very passionate about basketball, but a sports career was not in his future.
Business. At 30, he began working at Koch Industries and was appointed president of Koch Engineering nine years later. The company developed peacefully thanks to the efforts of the brothers, but after their father's death, a crisis broke out in the family. The two brothers Bill and Frederick actively protested against Charles's attempt to consolidate control of the family business. In 1980, they attempted to change things, but David sided with Charles and they managed to buy back their brothers' and other shareholders' shares for $1.3 billion. This was an astronomical sum, but this deal marked the first success for Charles and David.
The brothers began expanding their company's activities from the very start. While Koch Industries was traditionally associated with the energy sector, the company today positions its activities as turning raw materials into valuable products. The brothers invest in the sectors of oil refining, fertilizer and polymer production, fibers, forestry, and consumer goods manufacturing.
The brothers are actively involved in political life, funding political initiatives, specific political figures, and supporting conservative mass events. They have faced criticism for allegedly protecting their company's interests in doing so. Ultimately, such large-scale production as that at Koch Industries causes significant environmental pollution. The Kochs have invested millions of dollars in research aimed at disproving the theory that human activity is leading to global warming. David Koch financially supports scientific research and educational programs at the Institute for Humane Studies at George Mason University. The combined wealth of brothers David and Charles Koch is estimated to be around $96.6 billion. There are only three businessmen in America who are richer than they are - Bill Gates, Warren Buffett, and Larry Ellison. The success story of the brothers in business is closely linked to the development of Koch Industries, which they co-manage.
The reinvestment of corporate profits stands at 90%, each year they invest huge sums back into their business and in 2012, the company's revenue amounted to about $115 billion.
Political Views. Koch is an influential libertarian. In 1980, he was the vice-presidential candidate for the U.S. Libertarian Party and funded his campaign. He is the founder of the conservative political group Citizens for a Sound Economy. He and his brother Charles are sponsors of various political advocacy groups and political campaigns that are almost exclusively Republican.
Philanthropist. Koch founded the David H. Koch charitable fund. Since 2006, Koch has been among the top 50 philanthropists in the world according to the 'Chronicle of Philanthropy'. In 1992, Koch was diagnosed with prostate cancer. He underwent radiation therapy, surgery, and hormone therapy, but the cancer kept returning. Koch stated that he believes his experiences fighting cancer prompted him to finance medical research. Between 1998 and 2012, Koch contributed at least $395 million to medical research and facilities.
Death. David Koch died on August 23, 2019 at the age of 79.
08.23.2019.