Who is 'David Koch'

David Koch is the former Vice President and current co-owner of Koch Industries and a major philanthropist donating to the arts and cancer research. On June 5, 2018, Charles Koch announced David’s retirement from Koch Industries due to health concerns.

Breaking Down 'David Koch'

David Hamilton Koch was born on May 3, 1940 in Wichita, Kansas. He attended Deerfield Academy in Massachusetts, where many family members have matriculated, graduating in 1959. He went on to earn undergraduate and graduate degrees in chemical engineering from the Massachusetts Institute of Technology (MIT). He played basketball at MIT, where he was a star player holding many school records until recent times.

In 1970, he joined the family business, Koch Industries, which operates in many markets including oil and gas refining; chemicals and biofuels; forest and consumer products; polymers and fibers; process and pollution control equipment and technologies; electronic components; commodity trading; minerals; energy; ranching; glass, and investments. In 1979, David became president of the subsidiary, Koch Engineering, and he later served as Executive Vice President of Koch Industries until his retirement in 2018.

David and his brother Charles are known for their support of conservative causes through their funding of a variety of political campaigns, university curriculum, media outlets and the Cato Institute and Reason Foundation. A social liberal on many issues including a woman’s right to choose and gay marriage, David is a dedicated fiscal conservative. He began as a libertarian, including running as the party’s vice presidential candidate in the 1980 election, before switching to the Republican Party. The Koch Brothers' power within conservative politics is legendary and can be seen in the 2018 announcement of their extensive plans to influence public opinion against President Trump’s trade tariffs through aggressive media buys and lobbying efforts.

David Koch the Philanthropist

Koch Industries has been a generous donor to charitable causes and David Koch has served on over 30 non-profit boards including Sloan-Kettering Cancer Center and the M.D. Anderson Cancer Center. David was diagnosed with prostate cancer two decades ago and has donated millions of dollars to cancer research and cancer care.

In 2018, Forbes named David Koch the eighth-wealthiest billionaire in the world. He lives with his wife in Manhattan and they have three children. He and the family’s foundation have made several large gifts to many of the most significant cultural institutions in Manhattan, including the Metropolitan Museum of Art, the New York City Ballet, Lincoln Center and the Natural History Museum.

RELATED TERMS
  1. Held

    Held is a reference to a long position in a security or a situation ...
  2. David Tepper

    David Tepper, a co-founder of Appaloosa Management L.P., is among ...
  3. Border Adjustment Tax

    Border adjustment tax is a proposed tax on goods based on where ...
  4. David Ricardo

    David Ricardo was a classical economist best known for his theory ...
  5. Morris Chang

    The founder, chairman and CEO of Taiwan Semiconductor Manufacturing ...
  6. Private Foundation

    A private foundation is an organization created via a single ...
Related Articles
  1. Insights

    Charles Koch Biography

    Charles de Ganahl Koch is the CEO and co-owner of Koch Industries, an oil and industrial conglomerate that ranks as one of the largest privately held companies in America.
  2. Insights

    Top 8 Companies Owned by the Koch Brothers

    Take a look at the businesses and companies owned by the Koch Brothers.
  3. Insights

    4 Billionaires Who Graduated from MIT

    Discover several of the wealthiest business people to have graduated from the Massachusetts Institute of Technology, and learn how they made their fortunes.
  4. Insights

    Top 3 Billionaires Living In New York City

    Take a look at the careers of New York City's three most successful and famous billionaires: David Koch, Michael Bloomberg and Carl Icahn.
  5. Insights

    The World's Most Valuable Private Companies

    In spite of the rewards going public can bring, some companies prefer to remain private, and they are very successful in this.
  6. Insights

    Top 10 Wealthiest Families in the World

    Find out how much money it takes to land on the list of the 10 wealthiest families in the world, and why nobody is really sure what it takes to be number one.
  7. Insights

    The Top Republican Donors

    According to latest data from the Center for Responsive Politics, corporations and businesses are majority contributors to the party.
  8. Investing

    Meredith Buys Time Inc. in a $2.8 Billion Deal

    Diversified media company Meredith (NYSE: MDP) recently agreed to buy Time (NYSE: TIME), which publishes iconic magazines like Time, Fortune, Sports Illustrated, and Entertainment Weekly. Meredith ...
  9. Tech

    10 Most Famous Leveraged Buyouts

    Learn about the boldest, riskiest leveraged buyouts in history and how they either become famous for failing miserably or making billions.
RELATED FAQS
  1. What's the difference between publicly- and privately-held companies?

    Privately-held companies are owned by the company's founders, management, or private investors. Public companies are owned ... Read Answer >>
  2. What's the largest charitable donation Warren Buffett ever made?

    Learn about Warren Buffett's biggest financial contributions and how his estate is to be divided between charity and Buffett's ... Read Answer >>
Trading Center