Charles Koch Net Worth in 2019
Charles Koch Net Worth: How rich is Charles Koch? & How much money is Charles Koch worth? Time to find out!
November 1, 1935
English, Dutch, German/Frisian, Scottish
Charles Koch is an American businessman, political donor, and philanthropist, and his current net worth is $48.3 billion. Born in Wichita, Kansas, as one of four sons of Clementine Mary, and Fred Chase Koch, he still lives in Kansas. His grandfather, Harry Koch, a Dutch immigrant who came to West Texas, founded the Quanah Tribune-Chief newspaper, and a founding shareholder of Quanah, Acme and Pacific Railway. In 1961 he moved back to Wichita to join his father's business, Rock Island Oil & Refining Company (now known as Koch Industries). Koch has been married to his wife Liz since 1972 and has two children, Chase Koch and Elizabeth Koch. Charles and his three brothers have all suffered from prostate cancer. Koch "rarely grants media interviews and prefers to keep a low profile" TIME magazine included Charles and David Koch among the most influential people of 2011. According to the magazine, the list includes "activists, reformers and researchers, heads of state and captains of industry." The article describes the brothers' commitment to free-market principles, the growth, and development of their business, and their support for liberty-minded organizations and political candidates. Koch lives in Wichita, Kansas and has homes in Indian Wells, California and Aspen, Colorado.
But this didn’t mean that growing up, Charles would live a privileged lifestyle. No, his father said that he wanted Charles to work as if he was poor. Educated at the Massachusetts Institute of Technology, he is a member of the Beta Theta Pi fraternity. Growing up, he has earned a Bachelor of Science in General Engineering, a Master of Science in Nuclear Engineering and a second M.S. in Chemical Engineering. Upon finishing college, he went to work at Arthur D. Little, Inc., and a few years later he moved back to Wichita. There he joined his father’s business, Rock Island Oil & Refining Company. A few years later he became the president of the business, a medium-sized oil company. He renamed it in honor of his father, Koch Industries, as his first action as a president. Turns out under his careful supervision, the company generated $90 billion in revenue, a growth of 2000 times over. Charles Koch has served as director of Entrust Financial Corp. He also serves as director of resin and fiber company Invista, as well as of Georgia-Pacific LLC. He co-owns and serves as chairman of the board as well as CEO of Koch Industries while his brother David Koch serves as Executive Vice President. The brothers each own 42% of the company. Originally involved in oil refining and chemicals, the company’s new attributions include process and pollution control equipment and technologies, among others. Koch Industries also produces a wide variety of famous brands like Stainmaster carpet, the Lycra brand of spandex fiber, as well as Quilted Northern tissue and Dixie Cup. The second-largest privately owned company by revenue in the United States is worth more than $40 billion. Throughout his business career, he has founded or helped found several organizations, including Cato Institute.
He ranked 9th richest person in the world by Hurun Report, in 2014, with an estimated net worth of $36 billion. Apart from being a businessman he has also written and published three books where he talks about his business philosophy. He also contributes to the Republican Party and candidates, libertarian groups, and various charitable and cultural institutions. Thr Charles Koch is a classical liberal and has formerly identified as a libertarian. He is opposed to corporate welfare and told the National Journal that his "overall concept is to minimize the role of government and to maximize the role of private economy and to maximize personal freedoms." He has expressed concern for too much government regulation in the U.S., stating that "we could be facing the greatest loss of liberty and prosperity since the 1930s." Also, he has warned that drastic government overspending and a decline of the free enterprise system will prove detrimental to long-term social and economic prosperity. ough the Koch Cultural Trust, founded by Charles Koch’s wife, Elizabeth, the Koch family has also funded artistic projects and creative artists.