Charles Koch happens to be one of the wealthiest billionaires in the United States and the entire world by default. He is the CEO, Chairman of the Board and co-owner of Koch Industries, the largest privately-held business in the US. Mr. Koch resided in Wichita, Kansas together with his wife, Elizabeth.
One of the important pillar in the life of Charles Koch and his family was his father. He taught Charles Koch the values of hard work, work ethic, and business development. Alongside his brother David, the two have restructured and increased the fortunes of the once small industry they inherited from their father. He also attended the Massachusetts Institute of Technology for his undergraduate and later postgraduate studies.
Koch Industries initially dealt with oil refining. At the time, these were booming sectors, and his family made a fortune. Since he took over, the industries have diversified into the production of fertilizers, fibers and polymers, mining, forestry and ranching, consumer products and services. As a result, they are associated with popular brands such as Stainmaster carpet and Lycra spandex fiber.
Today, Charles Koch attributes his success to the inputs of his late father. Interestingly, he keeps a letter his father addressed to his sons in his office.
The letter made meaning to Charles Koch, who as the first born son was the natural heir of his father. Earlier in his career, he had joined his father as an understudy to learn firsthand about running a big business. Koch hears the words of his father every time he reads the letter, and it keeps him motivated to make the family business even more successful.
The Koch family is known for its business acumen and philanthropy including the Koch Cultural Trust run by Elizabeth Koch and supports creative artists and their projects. Charles Koch also sponsors investment and market education through institutions such as George Mason University and the Mercatus Centre.
Elsewhere, Charles’ philanthropy extends to the political scene where he supports conservative and Republican party candidates with forward thinking policies. Koch made history in 2012 when he mobilized over $400 million in donations towards the Mitt Romney Presidential campaign. The donation went down as the largest amount donated towards a political campaign.
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