Koch Brothers are the members of the Koch family from America. They are engaged in business but are also known for their involvement in politics. Charles Koch and David Koch are the brothers who are the co-owners of Koch Industries. Their company is the second-largest privately owned in the USA. Both the brothers are also active in philanthropy and have got several recognition.
Charles de Ganahl Koch and David Hamilton Koch are the sons of Fred C. Koch and Mary Robinson. Both the brothers were born in Wichita, Kansas. They also have two other brothers, Frederick R. Koch and William Koch.
They have made donations to the candidates of the Republican Party and have also contributed to libertarian. They have donated above $100 million to many advocacy organizations and the free-market.
In 1980, David became the Vice-Presidential candidate of the Libertarian Party. Charles supports other libertarian organizations like Cato Institute and the Mercatus Center. They have also got many family foundations and have been the trustees of various organizations. They are also involved with many think tanks and have given grants worth millions of dollars.
Both David and Charles are known as the “First Sons of Wichita.” They have played an active role in the legislation of climate change. They have also funded many organizations in response to global warming.
Charles Koch joined Rock Island Oil & Refining Company, his father’s company, in 1961. He renamed the company as ‘Koch Industries’ to honor his father and became the company’s president. In 1970, the business was joined by the company and was serving as the technical sales manager.
In 1982, Charles was appointed as the director of Koch Industries and Entrust Financial Corp. Today, the brothers jointly own 84% of Koch Industries. The revenue generated by the company is more than $100 billion. It is not the only company that the brothers own and operate.
They have many other companies dealing with refining oil, manufacture paper, fertilizers, and processed minerals. They are the owners of Flint Hill Resources, which is a fuel-producing company and operates in many countries across the world. Georgia Pacific is a paper company owned by them.
The brothers also own the glass company Guardian Industries and the spandex and polymer company, Invista. Additionally, they are the joint owners of Molex, an electronics company for solving electric cars. Other companies owned by them include Time Inc., Koch Pipeline Company, and Koch Ag & Company.
Awards & Achievements
In 2011, both the brothers were included in ‘Time 100’ by Time for getting associated with the Tea Party Movement. Individually, Charles Koch was conferred with the President’s Medal in 2004 by the Wichita State University. He has also got recognition from the Kansas Art Commission, The Heritage Foundation, Association of Private Enterprise Education, Wichita Chamber of Commerce, and many others. David Koch has received the Double Helix Medal.
Net Worth of Koch Brothers
As of May 2020, The estimated net worth Koch Brothers is a massive $120 billion. This is the joint net worth of David Koch and Charles Koch. They have made several times in the list of the wealthiest people in the world. They made this mammoth fortune by getting into several businesses in their career. They have been associated with the Koch Industries for a very long time, and also operate a number of other companies. All their companies are privately owned.
Koch Brothers are considered one of the wealthiest people in the world. They are successful and rich and have made a lot of contributions to charity. David is the executive vice president of their company, and Charles is the CEO and chairman of Koch Industries. They have helped many institutes and have also made donations to politics.