Charles Koch Net Worth
Charles Koch Net Worth: Charles Koch is an American businessman who has a net worth of $58 billion dollars. That makes him one of the top 10 richest people on the planet. He has been ranked as high as the fourth richest person on the planet. Charles Koch (pronounced "coke"), was born Charles de Ganahl Koch on November 1, 1935 in Wichita, Kansas. His parents Mary and Fred Koch co-founded Koch Industries, an engineering company that specialized in oil-refining and other oil processes. Charles graduated from MIT in 1959 with two master's degrees in engineering. He became president of Koch engineering in 1963. Charles became CEO of Koch upon his father's death in 1967. For much of his adult life, Charles was co-owner of Koch Industries, along with brother David, who died on August 23, 2019. With annual revenues of $100+ billion., today Koch Industries is the second-largest privately held company by revenue in the United States, behind Cargill.
Originally engaged solely in oil refining and chemicals, Koch Industries now deals also in process and pollution control equipment and technologies; polymers and fibers; minerals; fertilizers; commodity trading and services; forest and consumer products; ranching. It also produces a wide variety of well-known brands, such as Stainmaster carpet, the Lycra brand of spandex fiber, Quilted Northern tissue and Dixie Cup.
In 1980, young brother Bill and older brother Fred attempted to remove Charles as CEO in a failed boardroom coup. The fourth brother David, Fred's twin, sided with Charles. In 1983 Fred and Bill agreed to sell their stakes to Charles and David for around $800 million, combined. In 1985, after becoming convinced that he had been defrauded in the sale, Bill sued Charles and David. Fred was involved in the lawsuit with Bill, but somewhat reluctantly. The end result was a 15-year legal battle that was not resolved until 2000. The lawsuit, which went all the way to the U.S. Supreme Court, found in favor of Charles and David.
Charles has been married to Liz Koch since 1972. They have two children, Chase and Elizabeth Koch. Chase is widely-believed to be the heir-apparent from the third generation of Kochs.
In 2007, Charles Koch published The Science of Success, a book which chronicles his management philosophy, referred to as "Market-Based Management". Charles Koch supports a number of free, market-oriented educational organizations, including the Institute for Humane Studies and the Mercatus Center at George Mason University. He also contributes to the Republican Party and candidates, Libertarian groups and various charitable and cultural institutions. Charles Koch co-founded the Washington, DC-based Cato Institute. Through the Koch Cultural Trust, founded by Charles Koch's wife, Elizabeth, the Koch family has also backed artistic projects and creative artists.
Charles Koch Net Worth details: Charles Koch holds a 42 percent stake in the second largest closely held company in the United States, Koch Industries, which has reported annual revenue of as high as $100 billion. He has also invested in several companies including Georgia-Pacific, Invista, Flint Hills Resources, Koch Fertilizer, Koch Pipelines, Molex, and more. He also holds a stake in his family's private equity fund Koch Equity Development, and has around $2 billion worth of cash investments.
|Net Worth:||$58 Billion|
|Date of Birth:||Nov 1, 1935 (84 years old)|
|Profession:||Businessperson, Industrialist, Philanthropist|
|Nationality:||United States of America|