Koch is the chairman and chief executive officer of Koch Industries, the second-largest closely held business in the US. The Wichita, Kansas-based conglomerate operates in oil refining, pipelines, commodities trading, ranching and paper pulp, and has annual revenue of about $125 billion. He owns 38% of the company.
Koch's fortune derives from a 38% stake in Koch Industries, a closely held industrial conglomerate. Koch Industries is one of the largest closely held companies in the US and has annual revenues of about $125 billion, according to a person familiar with the company's results.
Revenue for Flint Hills Resources is calculated to have been about $38 billion in 2023 by comparing their reported production capacities and pipeline miles with select industry peers.
Based on information from court filings, paper and pulp producer Georgia-Pacific had $3.5 billion of earnings.
Based on an analysis of credit reports and discussions with people familiar, Polymer and fiber producer Invista had earnings of $1.5 billion. Electronic components manufacturer Molex had revenue of $7.1 billion. Glass manufacturer Guardian Industries had revenue of $3.7 billion.
Infor Global Solutions, an enterprise software company, had earnings of $740 million and is wholly owned by Koch after its acquisition was completed in April 2020.
In addition, $46.5 billion in cash, miscellaneous investments and land less certain overhead costs and liabilities is held by the Koch Industries parent, based on Moody's reports stating that the company has a zero net debt position and information provided by a person familiar.
Koch donated non-voting stock worth $5.3 billion to private foundations in 2020 and 2022, according to a spokesperson for the company, which was equivalent to 8.5% of his stake in the company based on Bloomberg calculations. The calculation was adjusted to account for the donation in October 2023.
Charles Koch was born in Wichita, Kansas, in 1935, to Mary and Fred Koch, who had co-founded an engineering company that specialized in oil refining and oil-related processes. Charles attended military school and studied engineering at MIT. He joined the family business in 1961 and took over the company following his father's death in 1967.
A fraternal feud over control of the business erupted in 1980, when younger brother Bill and older brother Frederick tried to unseat Charles as CEO in a failed boardroom coup, while a fourth brother, David, sided with Charles. Bill and Fred agreed to sell their shares back to the company for $1.1 billion in 1983. They sued two years later, claiming they were underpaid. A 15-year legal battle ensued, which was decided in favor of Charles and David in 2000.
At the helm of Koch Industries for more than 50 years, Koch has made a number of acquisitions, including the 2005 purchase of Georgia-Pacific for $21 billion. One of the original founders of the Cato Institute, he remains a backer of Republican and libertarian causes.