Charles Koch has an estimated net worth of $36 billion
Charles Koch is an American businessman and philanthropist with an estimated net worth of $36 billion. Charles de Ganahl Koch was born on November 1, 1935 in Wichita, Kansas. His grandfather was a Dutch immigrant who settled in West Texas and founded the Quanah Tribune-Chief newspaper. His grandfather was also a founding shareholder in the Quanah, Acme and Pacific Railway. Koch was a excellent student and spent his collegiate years at Massachusetts Institute of Technology where he received a Bachelor of Science in General Engineering and a Master on Science in Mechanical Engineering. In 1960 Koch got his second Master of Science in Chemical Engineering.
After college, Koch moved back to Wichita to work for his father’s company, Rock Island Oil & Refining Company. By 1967 he was named the then-medium sized oil company’s president. That same year he renamed Rock Island Oil & Refining Company to Koch Industries.
Charles Koch is now co-owner , chief executive officer, and chairman of the board for Koch Industries. His brother, David H. Koch own 42% of Koch Industries and serves as the company’s Executive Vice President. Under their leadership, Koch Industries has expanded 2,600 times its inherited size. Originally, the company only dealt with oil refining and chemicals, it now includes process and pollution control equipment and technologies; polymers and fibers; minerals; fertilizers; commodity trading and services; forest and consumer products; and ranching.
Koch Industries produces well-known brands such as Dixie cup, Quilted Northern tissue, Lycra fiber, and the Stainmaster carpet. By 2006, Koch Industries was earning $90 billion in revenue which is an 18% annually compounded return. It is the second largest privately held company in the United States as far as revenue.
Charles Koch is a big philanthropist, lending his time and funds to various charitable causes. He provides support for the Institute for Humane Studies and the Mercatus Center at George Mason University. He also co-founded The Cato Institute, which focuses on public advocacy, media exposure, and societal influence. It is considered one of the United States’ top libertarian think tanks. The Koch Cultural Trust which was founded by Koch’s wife and family, funds artistic projects and creative artists.
Charles Koch has enough net worth to buy:
1. 343,183.9 Audi RS 7 Coupes ($104,900 each)
2. 3,000,000 Waterford London Console Tables ($12,000 each)
3. 3,603,603.6 Bloomingdale’s Century City 2-Piece Sectionals ($9,990 each)
Charles Koch has enough net worth to give everyone in China $26.44