David Hamilton Koch was born on 3 May 1940, in Wichita, Kansas USA of Dutch descent, and is above all a businessman primarily known as an Executive Vice-President of Koch Industries, and being listed by Forbes magazine as the sixth richest man in the world in 2015.
So just how rich is David Koch? Forbes estimates that David’s net worth has reached $44.3 billion, a significant proportion having been inherited as part of the family business, Koch Industries, but expanded considerably over the last 40 years.
David Koch Net Worth $44.3 Billion
David Koch’s alma mater is MIT, graduating first with a BSc in 1962 and then a MSc in 1963 both in chemical engineering. He then went to work as a research and process design engineer for Amicon Corporation and Arthur D. Little, Inc., as well as Halcon International Inc. and its affiliate, the Scientific Design Company. Of course it was just a matter of time, whilst accruing experience, before he joined the family company, actually in 1970. He was first the technical services manager, and then became president of the subsidiary Koch Engineering in 1979, followed by a co-ownership of Koch Industries in 1983 with his older brother Charles Koch.
David and Charles ARE Koch Industries: the conglomerate has gone from strength to strength, originally from oil, then with careful expansion and investment in a wide variety of businesses, including chemicals, grain processing and biofuels, forest and consumer products, fertilizers, polymers and fibers, process and pollution control equipment and technologies, electronic components, minerals, energy, ranching and glass. Of course the companies’ successes are also reflected in the growth of David Koch’s net worth, and that wealth enables David to be a generous philanthropist and benefactor.
As an idea of the strength and influence of David Koch, Koch Industries – of which David owns 42% – has estimated annual revenues of $115 billion, and employs more than 100,000 people in over 60 countries, about 60,000 of those in the USA. Familiar Koch companies’ brands include Stainmaster carpets, Lycra fiber, Quilted Northern tissue and Dixie Cups crockery and cutlery.
Moreover, these companies’ credentials are supported ethically in that since 2009, Koch companies have earned more than 930 awards for safety, environmental excellence, community stewardship, innovation, and customer service; the brothers and their companies are not just moneymakers.
David Koch is also a very generous philanthropist, contributing to, literally, a variety of organisations, institutions and charities, including two – the American Museum Of Natural History and The New York State Theatre to the extent where a wing and theatre respectively have been named after him. Other notable recipients are the New York Presbyterian Hospital and the Lincoln Centre. He has also established the David H. Koch Charitable Foundation.
David became involved in politics too, being the Libertarian Party’s vice-presidential candidate in the 1980 presidential election, behind presidential candidate Ed Clark. However, the candidature polled only 1% of votes. Since then Koch has supported the Republican Party.
In his private life, David Koch has been married to Julia since 1996.
