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Koch family
PROFILE
Koch family
$116B
2024 America's Richest Families Net Worth
as of 2/8/24
Photo by BO RADER/MCT/Newscom
About Koch family
Fred C. Koch started what became America's second largest private company, Koch Industries, when he cofounded the Wood River Oil and Refining Company in 1940.
His son Charles took over as chairman and CEO after he died in 1967; three other sons, Frederick, David and William (Bill), also inherited stakes.
A power struggle among the brothers led to the ouster of Frederick and Bill, whose shares were reportedly bought out for nearly $800 million in 1983.
Charles Koch, who remains chairman and co-CEO of Koch Industries, has diversified the business to include paper products, chemicals, electronics and software.
Charles' son, Chase Koch, runs venture capital subsidiary Koch Disruptive Technologies and directs two nonprofits that received $5.3 billion of Charles' nonvoting Koch stock from 2020 to 2022.
David Koch was executive vice president until about a year before his death in 2019; his family and Charles each have 42% voting stakes in the firm.
Bill Koch went on to start his own energy company, Oxbow, while Frederick Koch was a philanthropist and art patron until his death in 2020.
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