Introduction
In his lifetime, he was known as a co-owner of Koch Industries, a multinational conglomerate corporation.
David Koch’s net worth was roughly $58 Billion, making him one of the richest businessmen of his era, alongside his brother Charles Koch.
Early Life
David Koch is the oldest of the three brothers. The brothers have been seen as having a very conservative approach towards politics and have been a strong supporter of conservatism in the United States. They have a very strong influence on the Republican Party and, although they are not running for president in the 2016 campaign, they have supported Donald Trump.
Koch went to Deerfield for his junior year in school. He started his own business at the age of 22, and got married.
Career
In the 1970s, Koch continued to work as a research and process designer while working on his own inventions. Some of the early inventions were based on the work of William F. Miller, an American engineer and inventor. Koch’s first patent for a process improvement tool was granted in 1973.
Koch started in the family business as an engineer in 1970. He later became the president of his own division–Koch Engineering–in 1979.
He began to develop an interest in politics and became the Libertarian candidate for the vice-presidency in the U.S presidential election in 1980.
He co-founded CSE with his brother John, a Republican.
The Koch brothers were described in a 2015 documentary called The Koch Brothers, by PBS, as “a right-wing political network of conservative billionaires from Wichita, Kansas”. The New York Times has described the brothers’ political positions as “fiscal conservatism and, in the broader sense, an opposition to government spending”. The brothers have donated to both political parties, funding Republican candidates and conservative causes.
He was diagnosed with prostate cancer in 1992, cancer recurred numerous times, was treated once with surgery and was treated with chemotherapy and radiotherapy in later years. When he was told he was losing fight, he decided to try a new approach of research and tried to raise money from the public to fund the medical research.
You need to stop thinking that you’re going to make money off me. You’re not! You will never make any money off me. You’re dead.
My grandfather knew more about this shit than you do. He would have never allowed you to do this.
Highlights
Here are some of the best highlights of David Koch’s career: A successful businessman. Billionaire. Controversial philanthropist.
Favorite Quotes from David Koch
David Koch says that his brother has never donated money for this type of research, but he is always open to donating money for other types of research and cancer research is one of the only research that he does not spend money on.
When I was a bachelor, with a different girl on my arm every week, people didn’t think I was quite legit.
“The Australian Federal Police today made three arrests and recovered seven passports for a people-smuggling syndicate operating out of Malaysia. Over 40 people were on board the boat who were headed for Australia. The arrests occurred on board a vessel intercepted at 12.35 a.m. on Monday night while it was in international waters off the coast of Malaysia heading toward Australia.
3 Lessons from David Koch for Entrepreneurs
I hope this leadership lesson will help you to be a better leader.
1. You Don’t Need a Fancy Address to Build a Massive Company
The reality is that most of the world does not care all that much where you are.
Most of the world does not know that you even exist.
Your biggest competition comes from within, not from outside.
You have to make the world an awesome place to be.
2. Going Into Business with Family Can Strain Relationships
I try to bring my close friends and family into the business. It’s the easiest way to get a good deal.
3. Never Give Up On Your Dreams
As billionaires, the Koch brothers have developed a reputation in the media as greedy, selfish, and rich. But behind the scenes, these men work tirelessly to build an industry that continues to serve society.
Summary
The Koch brothers, Charles and David Koch, had no college degrees. The Koch brothers inherited a business from their father, but they have expanded their empire beyond their father’s engineering firm to a private oil company producing, refining, and marketing crude and natural gas products in the United States.
At his death, David’s net worth was estimated to be about $58 Billion. Amongst him and his brother Charles, they were considered to be two of the richest brothers in the world.