Charles de Ganahl Koch also known as Charles Koch is an American Billionaire businessman and Philanthropist who is among the 20 Richest people in the World.
Since 1967, Koch has shared ownership of Koch Industries and has served as chairman and CEO while his late brother David Koch held the executive vice president position. Till Now, Koch has published three books explaining his business philosophy, The Science of Success, Market Based Management, and Good Profit.
Charles Koch Biography and Net Worth
|Net Worth $60 Billion|
|Full Name Charles de Ganahl Koch|
|Birth Date Nov 1, 1935|
|Age 86 years old|
|Birth Place Wichita, Kansas|
|Occupation Businessperson, Industrialist, Philanthropist|
|Spouse Liz Koch|
Charles Koch Early Life
Charles de Ganahl Koch aka Charles Koch born on November 1, 1935, in Wichita, Kansas. His parents, Mary and Fred, started Koch Industries to develop engineering solutions for the oil industry. In his early years, he attended a private school.
He later enrolled at the Massachusetts Institute of Technology, where he graduated in 1957 with a Bachelor of Science in General Engineering and two Master of Science degrees in Nuclear Engineering and Chemical Engineering (1960). Following his graduation from college, Koch was employed by the Boston-based management consulting company Arthur D. Little, Inc.
Charles Koch Career
He started working at Arthur D. Little, Inc. after graduating. However, he only stayed in this position for a brief time before returning to Wichita in 1961 to work for his father’s company, Rock Island Oil & Refining Company.
He was a diligent young man who was anxious to grow the family business, which by the late 1960s had developed into a medium-sized oil company. In 1967, he took over as president of the company and gave it his father’s name by renaming it Koch Industries. Since then, he has also held the positions of CEO and Chairman of the Board.
He put in an endless effort to expand the company, which is now active in a variety of industries including the production, refinement, and distribution of chemicals, energy, fibre, intermediates, polymers, minerals, fertilisers, pulp, and paper.
In addition to serving as the Director of Koch Industries since 1982, he also currently serves as the Director of Georgia-Pacific LLC, a company that manufactures paper and pulp products, and Entrust Financial Corp.
The Koch Industries under Charles Koch’s direction saw an extraordinary rate of growth, and today it is present in about 60 different countries and employs more than 100,000 people globally. Koch Industries owns Invista, Georgia-Pacific, Molex, Flint Hills Resources, Koch Pipeline, Koch Fertiliser, Koch Minerals, and Matador Cattle Company thanks to more than $70 billion in recent acquisitions and other capital investments.
Charles Koch Parents
Charles was one of Fred Chase Koch and Clementine Mary Koch’s four sons. Harry Koch, a Dutch immigrant who landed in West Texas and established the Quanah Tribune-Chief newspaper as well as Quanah, Acme, and Pacific Railway, was Koch’s grandpa.
Charles grew up alongside twin brothers David and Bill, as well as older brothers Frederick and Frederick Jr. Prostate cancer was discovered in all four of the Koch brothers at some time in their lives, and David passed away after fighting the illness for almost three decades.
Charles Koch’s Wife and Children
Liz became Charles’s wife in 1972, and the couple welcomed their children Chase in 1977 and Elizabeth in 1976. Chase has held the positions of president of Koch Fertiliser, Koch Agronomic Services, and Koch Disruptive Technologies.
Charles Koch Achievements
Charles Koch attributes his extraordinary success to the market-based management (MBM) business theory, which he created. In his 2007 book, “The Science of Success: How Market-Based Management Built the World’s Largest Private Company,” he goes into great length about this ideology. Koch Industries has been the recipient of more than 930 awards for community Stewardship, safety, innovation, environmental excellence, and customer service. Koch itself is rewarded with numerous awards.
Charles Koch’s Net Worth
According to the Bloomberg Billionaires Index as of June 2022, he had a net worth estimated at $60 billion and was the 18th richest person in the world.
Although Charles has several residences, his primary residence is in Wichita, close to the Wichita Country Club. Additionally, he has residences in the Colorado towns of Aspen and Vail, and in 1999, he spent $10 million on a 7,500-square-foot residence in Indian Wells, California. Koch paid $3.25 million for the property next door in 2018. Koch Industries is currently the second-largest privately held firm in the United States by revenue, after only Cargill, with annual revenues of more than $115 billion.
Charles contributed $246 million to libertarian causes between 2004 and 2008, including social welfare and academic research, earning him a spot on Business-week’s 2008 list of the 50 Top American Givers.