David Koch (79), executive vice president of Koch Industries, has passed away as the 11th richest person in the world. David Koch is known as the main donor to traditional causes and educational groups.
One of the closest members of the David Koch family, he told the Associated Press. David has been diagnosed with prostate cancer since he was 27 years old. David Koch, along with his brother Charles Koch, succeeded in building a political network called Kochtopus.
The brothers set up this network for the prosperity of anti-tax and small-government group Americans. David Koch trained as an engineer at the Massachusetts Institute of Technology (MIT). David Koch joined Koch Industries in the 1970s and also served on the board.
Koch is Chief Executive Officer of Chemical Technology Group and Koch subsidiary. Brother Charles and David Koch, each with a net worth of $ 31 billion, were ranked fourth on Forbes’ richest 100 countries in 2012.
David Hamilton Koch (/koʊk/; May 3, 1940 – August 23, 2019) was an American businessman, philanthropist, political activist, and chemical engineer. He joined the family business Koch Industries, the second-largest privately held company in the United States, in 1970. He became president of the subsidiary Koch Engineering in 1979, and became a co-owner of Koch Industries, with older brother Charles, in 1983. He served as an executive vice president until his retirement in 2018. Upon retirement in June 2018 due to health issues, Koch received the title of Director Emeritus.
Koch was a libertarian. He was the 1980 candidate for Vice President of the United States from the United States Libertarian Party and helped finance the campaign. He founded Citizens for a Sound Economy. He donated to political advocacy groups and to political campaigns, almost entirely Republican. As of June 2019, he was ranked as the 11th-richest person in the world, (tied with his brother Charles), with a fortune of $48 billion. Condé Nast Portfolio described him as “one of the most generous but low-key philanthropists in America”. Koch contributed to several charities including Lincoln Center, Sloan Kettering, New York-Presbyterian Hospital and the Dinosaur Wing at the American Museum of Natural History. The New York State Theater at Lincoln Center, home of the New York City Ballet, was renamed the David H. Koch Theater in 2008 following a gift of $100 million for the renovation of the theater. Koch was the fourth richest person in the US as of 2012, and the wealthiest resident of New York City as of 2013.
As of March 2019, he was ranked as the 11th-richest person in the world, with an estimated net worth of $50.5 billion.
Read More: https://en.wikipedia.org/wiki/David_Koch