Charles de Ganahl Koch (born November 1, 1935) is an American billionaire businessman. As of June 2023, he was ranked as the 20th richest person in the world on the Bloomberg Billionaires Index, with an estimated net worth of $62 billion. Koch has been co-owner, chairman, and chief executive officer of Koch Industries since 1967, while his late brother David Koch served as executive vice president. Charles and David each owned 42% of the conglomerate. The brothers inherited the business from their father, Fred C. Koch, then expanded the business. Koch Industries is the largest privately held company by revenue in the United States, according to Forbes.
Koch also supports a number of libertarian think tanks, including the Institute for Humane Studies, the Cato Institute, the Ayn Rand Institute,[7] 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. He co-founded the Washington, D.C.-based Cato Institute. Along with his brother, Koch has been an important funder of think tanks that lobby to oppose environmental regulation. Koch has published three books detailing his business philosophy, The Science of Success (2007), Market Based Management, and Good Profit (2015).
Koch’s fortune derives from a 42% stake in Koch Industries, a closely held industrial conglomerate. Koch Industries is one of the largest closely held companies in the US and has annual revenues of about $125 billion, according to a person familiar with the company’s results.
Revenue for Flint Hills Resources is estimated to have been about $45 billion in 2022 by comparing their reported production capacities and pipeline miles with select industry peers.
Based on information from court filings, paper and pulp producer Georgia-Pacific had $4.6 billion of earnings.
Based on an analysis of credit reports and discussions with people familiar, Polymer and fiber producer Invista had revenue of $4.4 billion. Electronic components manufacturer Molex had revenue of $8.4 billion. Glass manufacturer Guardian Industries had revenue of $3.6 billion.
Infor Global Solutions, an enterprise software company, had earnings of $740 million and is wholly owned by Koch after its acquisition was completed in April 2020.
In addition, $40 billion in cash, miscellaneous investments and land less certain overhead costs and liabilities is held by the Koch Industries parent, based on Moody’s reports stating that the company has a zero net debt position and information provided by a person familiar.
Milestones
- 1935 Charles Koch is born in Wichita, Kansas, to Fred and Mary Koch.
- 1959 Graduates from MIT with two master’s degrees in engineering.
- 1963 Appointed president of Koch Engineering.
- 1967 Takes over the family business after his father’s death.
- 1976 Establishes the Cato Institute, a libertarian think tank.
- 1980 Brothers Bill and Fred attempt to oust him as CEO of Koch Industries.
- 1985 Bill and Fred Koch sue Koch Industries over the value of their shares.
- 2000 Bill and Fred Koch lose their lawsuit before the U.S. Supreme Court.
- 2012 The Cato Institute settles two lawsuits with the Koch brothers.
