With a steadily growing fortune that already amounts to greater than $60 billion, David is the son of a chemical engineer; but his grandfather was a founding member of Quanah, Acme and Pacific Railway and also founded a newspaper. David H Koch was born into a wealthy family and inherited the majority of his wealth, That being said he started working for the family business in 1970 and has been making millions ever since.
Born in Wichita, Kansas, Koch had a fairly privileged upbringing and attended preparatory school in Massachusetts. He went on to study at MIT and graduated in Chemical Engineering with a master’s degree in 1962. Eight years later he had joined Koch Industries and was working under his elder brother Charles. By 1983 he had expanded into New York and was co-running the company, a title that was contested by rival members of the Koch clan in 1985 and many times thereafter throughout the years.
In spite of the evident jealousy that exists within the Koch family; David went on to become a politically active and ran as a candidate for theÂ United States Liberatarian PartyÂ in 1980, He is also the founder of Citizens for a Sound Economy and are notoriously republican in the political causes they support.
As a philanthropist Koch is known to have contributed to the Lincoln Center, the New York Presbyterian Hospital, the American Museum of Natural History and the New York State Theater â to name but a few. Although known to be generous to a fault he has not joined in on the Giving Pledge; an agreement between billionaires that they will donate the majority of their money to charities.Â
Koch has made huge donations towards finding the cure for Cancer and has contributed greatly to theÂ Moon ShotÂ Project.
“As recently as the last ten years he has donated more than a $100 million to medical research â and all of this funded by his profits from Koch Industries â the second largest private company in the US.”
s manufacturers and refiners of energy and chemical technology Koch is a firm that provides the backbone to America. Without the power they control other businesses simply could not survive. They are a powerful business, which makes Mr Koch a powerful man. When he throws his weight (and his money) towards political campaigns they tend to gain traction very quickly.
Koch have amalgamated many businesses under their banner and that is the source of its wealth: Time Inc., Flint Hills Resources, Molex and Invista to name but a few. With such powerful financial connections and huge stakes in oil and gas Koch Industries are a force to be reckoned with. Although Philanthropic, he is most unlikely to leave his fortune to anyone but his children. Unlike other billionaires he chose not to seek experience in other fields and sought out his family business straight away… with so many employees and such a wide reach his opportunities have been endless; but Koch Engineering Division is perhaps his greatest achievement to date.
“Currently 77 years old, David Koch has now retired due to healthÂ issues. We wait with anticipation to see what happens next for Koch Industries.”