Charles Koch Biography
Charles Koch(Charles de Ganahl Koch) is an American businessman, political donor, and philanthropist. As of March 2019, he was ranked as the 8th-richest person in the world, with an estimated net worth of $50.5 billion.
He is an American businessman and philanthropist who is the co-owner of Koch Industries. Originally involved exclusively in oil refining and chemicals, Koch Industries now includes process and pollution control equipment and technologies, polymers and fibers, minerals, fertilizers, commodity trading and services, forest and consumer products, and ranching.
The businesses produce a wide variety of well-known brands, such as Stainmaster carpet, the Lycra brand of spandex fiber, Quilted Northern tissue, and Dixie Cup.
He supports a number of free market-oriented educational organizations, such as the Institute for Humane Studies, the Ayn Rand Institute, 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, DC-based Cato Institute. Through the Koch Cultural Trust, founded by Charles Koch’s wife, Elizabeth, the Koch family has also funded artistic projects and creative artists.
Charles Koch Age
Charles de Ganahl Koch is an American businessman, political donor, and philanthropist. He was born on November 1. 1935 Wichita, KS. Charles is 83 years old as of 2018.
Charles Koch Family
Koch was born and lives in Wichita, Kansas, as one of four sons of Clementine Mary (née Robinson) and Fred Chase Koch. His’s grandfather, Harry Koch, was a Dutch immigrant who settled in West Texas, founded the Quanah Tribune-Chief newspaper and was a founding shareholder of Quanah, Acme and Pacific Railway. Among his maternal great-great-grandparents were William Ingraham Kip, an Episcopalian bishop, William Burnet Kinney, a politician, and Elizabeth Clementine Stedman, a writer.
In an interview with Warren Cassell Jr., which was recorded in February 2016, the American native explained that as a child he did not live a privileged lifestyle despite growing up in a wealthy family. He said, “My father wanted me to work as if I was the poorest person in the world.” Charles and his three brothers have all suffered from prostate cancer.
Charles Koch Education
After he attended several private high schools, Koch was educated at the Massachusetts Institute of Technology. He is a member of the Beta Theta Pi fraternity. He received a Bachelor of Science (B.S.) in General Engineering in 1957, a Master of Science (M.S.) in Nuclear Engineering in 1958, and a second M.S. in Chemical Engineering in 1960. After college, he started work at Arthur D. Little, Inc. In 1961 he moved back to Wichita to join his father’s business, Rock Island Oil & Refining Company. In 1967,
Charles Koch Wife | Charles Koch Children
He has been married to his wife Liz since 1972 and has two children. His Kids are Elizabeth Koch(Daughter) and Chase Koch son. 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.”
Charles Koch Net Worth
He has an estimated net worth of $52.2billion as of 2019. He has been chairman and CEO of Koch Industries, America’s second largest private company by revenue, since 1967. The diversified company has some $110 billion in revenues from businesses including pipelines, chemicals, Dixie cups, and Stainmaster carpet.
His father, Fred Koch, improved a method of refining heavy oil into gasoline in 1927 and started the family business in 1940. The Kansas native owns a 42% stake in the firm, as does his brother, he they bought their two other brothers’ shares in 1983. His son Chase heads the company’s venture capital arm, which has invested in hybrid cloud firm Mesosphere and 3D metal printing startup Desktop Metal.
Charles Koch Foundation
Education creates opportunity and drives progress. The Foundation grants funding to scholars, students, and partners developing creative solutions that empower individuals to transform their lives and to improve society.
“It became clear to me, as I studied the ideas that shaped human history, that virtually everybody has the ability to learn, contribute and succeed if given the opportunity to do so. As I absorbed and applied these ideas, they transformed my life and enabled me to accomplish more than I ever dreamed possible. That success made me want to help as many people as possible to do the same”.
Charles Koch Institute
The Institute is libertarian-oriented public policy research, programming, grant-making, and fellowship-funding organization based in Virginia. Named after Charles, its founder, and primary financier, it pursues conservative economic policies and a non-interventionist foreign policy that has been characterized as an anti-neoconservative or defensive realist.
It was established in 2011 and is housed in a building which it shares with the Charles Koch Foundation. According to Charles Koch, the institute is the beneficiary of a majority of his personal political donations, or those separate from what originates from Koch Industries.
Political and economic views
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 the 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.” In addition, 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.
According to Stephen Moore, influences on Koch include Alexis de Tocqueville, Adam Smith, Michael Polanyi, Joseph Schumpeter, Julian Simon, Paul Johnson, Thomas Sowell, Charles Murray, Leonard Read, and F.A. Harper. The presidents he most admires include George Washington, Grover Cleveland), and Calvin Coolidge.
In an interview with the American Journal of Business, he said he owes “a huge debt of gratitude to the giants who created the Austrian School (of economics). They developed principles that enabled me to gain an understanding of how the world works, and these ideas were a catalyst in the development of Market-Based Management.” In particular, he expresses admiration for Ludwig von Mises’ book Human Action, as well as the writings of Friedrich Hayek.
He said, “the short-term infatuation with quarterly earnings on Wall Street restricts the earnings potential of Fortune 500 publicly traded firms.” He also considers public firms to be “feeding grounds for lawyers and lawsuits,” with regulations like Sarbanes–Oxley only increasing the earnings potential of privately held companies.
Koch disdains “big government” and the “political class.” He believes billionaires Warren Buffett and George Soros, who fund organizations with different ideologies, “simply haven’t been sufficiently exposed to the ideas of liberty.” Koch claimed “prosperity is under attack” by the Obama administration and sought to warn “of policies that threaten to erode our economic freedom and transfer vast sums of money to the state.”
Charles Koch Charles Koch Awards
Koch has received various awards and honors, including:
- Honorary Doctor of Science, from George Mason University, for his continued support of the economics program at GMU
- Honorary Doctor of Commerce from Washburn University
- Honorary Doctor of Laws from Babson College
- President’s Medal from Wichita State University in 2004
- The Adam Smith Award from the American Legislative Exchange Council
- The 1999 Directors’ Award for Global Vision in Energy from the New York Mercantile Exchange
- The 1999 Governor’s Arts Patrons Award from the Kansas Arts Commission
- The 2000 National Distinguished Service Award from The Tax Foundation
- The Spirit of Justice Award from The Heritage Foundation
- The Entrepreneurial Leadership Award from the National Foundation for Teaching Entrepreneurship