Jump to content

Koch family

From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by 99.181.159.96 (talk) at 19:22, 22 July 2012 (Forbes.com). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

The Koch family (/[invalid input: 'icon']ˈkoʊk/ kohk) of industrialists and businessmen is most notable for their control of Koch Industries, the second largest privately owned company in the United States.[1] The family business was started by Fred C. Koch, who developed a new cracking method for the refinement of heavy oil into gasoline.[2][3] Fred's four sons became involved in litigation against each other in the 1980s and 1990s.[4] According to the Koch Family Foundations and Philanthropy website, "the foundations and the individual giving of Koch family members" have financially supported organizations "fostering entrepreneurship, education, human services, at-risk youth, arts and culture, and medical research." [5]

David H. Koch and Charles G. Koch—the two brothers still with Koch Industries—are affiliated with the Koch family foundations. Annual revenues for Koch Industries have been "estimated to be a hundred billion dollars."[6]

Political activities

Main article: Political activities of the Koch family

David and Charles have funded conservative and libertarian policy and advocacy groups in the United States.[7] Since the 1980s the Koch foundations have given more than $100 million to such organizations, among these think tanks like the Heritage Foundation and the Cato Institute, as well as more recently Americans for Prosperity.[8] Americans for Prosperity and FreedomWorks are Koch-linked organizations that have been linked to the Tea Party movement.[9][10]

Family members

  • Fred C. Koch (1900–1967), American chemical engineer and entrepreneur who founded the oil refinery firm that later became Koch Industries
  • Mary Robinson Koch (October 17, 1907 – December 21, 1990),[11] wife of Fred C. and namesake of the company tanker vessel Mary R. Koch
  • Four sons of Fred C. and Mary Robinson Koch:[11]
    • Frederick R. Koch (born 1933), collector and philanthropist
    • Charles G. Koch (born 1935), Chairman of the Board and Chief Executive Officer of Koch Industries
    • David H. Koch (born 1940), Executive Vice President of Koch Industries
    • William Koch (born 1940), businessman, sailor, and collector

See also

References

  1. ^ "Forbes America's Largest Private Companies". Forbes.com. Retrieved 2011-10-04.
  2. ^ Koch, Charles C. (2007). The Science of Success: How Market-Based Management Built the World's Largest Private Company. John Wiley & Sons, Inc. p. 6. ISBN 978-0-470-13988-2. {{cite book}}: Cite has empty unknown parameter: |coauthors= (help)
  3. ^ "Koch Industries, Inc". Company Profile Report. Hoover's, Inc. 2010. Retrieved 2010-05-10. [W]hen he tried to market his invention, the major oil companies sued him for patent infringement. Koch eventually won the lawsuits (after 15 years in court), but the controversy made it tough to attract many US customers.
  4. ^ "Epic struggle among Koch brothers ends". Houston Chronicle. May 26, 2001. p. 2.
  5. ^ http://kochfamilyfoundations.org/Foundations.asp
  6. ^ Mayer, Jane (August 10, 2010) http://www.newyorker.com/reporting/2010/08/30/100830fa_fact_mayer Covert Operations: The billionaire brothers who are waging a war against Obama The New Yorker
  7. ^ Zernike, Kate (October 19, 2010). "Secretive Republican Donors Are Planning Ahead". New York Times.
  8. ^ Charles Koch, in interview with Stephen Moore of the Wall Street Journal. May 6, 2006.
  9. ^ Vogel, Kenneth P. (August 9, 2010), "Tea party's growing money problem", Politico, retrieved 2011-06-14
  10. ^ Fenn, Peter (February 2, 2011), "Tea Party Funding Koch Brothers Emerge From Anonymity", U.S. News & World Report, retrieved 2011-06-13
  11. ^ a b Fred and Mary Koch Foundation
Retrieved from "https://en.wikipedia.org/w/index.php?title=Koch_family&oldid=503634769"