Charles Koch & family
$67.5B
Born
Nov 01, 1935
Age
89
Source of Wealth
Koch, Inc.
Residence
Wichita, Kansas
Citizenship
United States
Marital Status
Married
Children
2
Education
Bachelor of Arts/Science, Massachusetts Institute of Technology; Master of Science, Massachusetts Institute of Technology
- Charles Koch has been chairman of Koch, Inc., America's second largest private company by revenue, since 1967. He brought on his first ever co-CEO in 2023.
- The diversified company has some $125 billion in revenues from businesses including pipelines, chemicals, software, automotive components and Dixie cups.
- His father, Fred Koch, improved a method of refining heavy oil into gasoline in 1927 and started the family business in 1940.
- In 1983 Charles and his brother David (d. 2019) bought out their siblings Bill and Frederick (d. 2020) for a reported $800 million. David's widow Julia Koch inherited his 42% stake.
- From 2020 to 2022, Charles transferred $5.3 billion of Koch, Inc.'s nonvoting stock to a pair of nonprofits with fewer restrictions on lobbying and politics than traditional charities.
- Forbes estimates those shares accounted for nearly a tenth of the 42% stake previously held by Koch (though he still has 42% voting power).
- Three Koch brothers (Charles, David and Bill) went to MIT; the trio were in the Beta Theta Pi fraternity and David and Charles played on the same club rugby team.
- Koch founded Stand Together, a network of nonprofits and donors focused on philanthropic and political advocacy causes, in 2003.
- Charles' son, Chase Koch, founded venture capital subsidiary Koch Disruptive Technologies, which has invested more than $4 billion in 70-plus companies.
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