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David H. Koch

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David H. Koch
David Koch-crop-2007.jpg
Koch in 2007
Born David Hamilton Koch
(1940-05-03) May 3, 1940 (age 75)
Wichita, Kansas, USA[1]
Monuments David H. Koch Theater
Residence Manhattan, New York, USA
Citizenship United States
Education M.S. in Chemical Engineering
Alma mater Massachusetts Institute of Technology (B.S., M.S.)
Occupation VP of Koch Industries
Known for Philanthropy to cultural and medical institutions;
Support of libertarian and conservative causes[2][3]
Net worth US$ 42.2 billion (March 2015)[4]
Political party
Libertarian (before 1984), Republican
Opponent(s) Ran on Libertarian ticket for Vice President in 1980 election against CarterMondale, and ReaganBush
Board member of
Aspen Institute, Cato Institute, Reason Foundation, Americans For Prosperity Foundation, WGBH, Massachusetts Institute of Technology, Americans for Prosperity, Smithsonian National Museum of Natural History, Metropolitan Museum of Art, American Ballet Theatre, Lincoln Center for the Performing Arts, Deerfield Academy, New York-Presbyterian Hospital, Memorial Sloan-Kettering Cancer Center, American Museum of Natural History
Spouse(s) Julia M. Flesher Koch[5][6]
Children David Koch Jr.
Mary Julia Koch
John Mark Koch
Parent(s) Fred Koch
Mary Robinson
Relatives
Awards Honorary Doctor of Humane Letters - Cambridge College;
Corporate Citizens Award - Woodrow Wilson International Center for Scholars[1]

David Hamilton Koch (/ˈkk/; born May 3, 1940) is an American businessman, philanthropist, political activist, and chemical engineer. He joined the family business Koch Industries, a conglomerate that is the second-largest privately held company in the United States, in 1970. He became president of the subsidiary Koch Engineering in 1979, and became a co-owner of Koch Industries, with older brother Charles, in 1983. He is now an executive vice president.[7]

Koch is an influential libertarian, having financed and run on the 1980 U.S. Libertarian Party presidential ticket and founded Citizens for a Sound Economy. Koch has contributed to several charities including Lincoln Center, Sloan Kettering, a fertility clinic at New York-Presbyterian Hospital and the American Museum of Natural History's David H. Koch Dinosaur Wing.[8] The New York State Theater at Lincoln Center, home of the New York City Ballet was renamed the David H. Koch Theater in 2008 following a gift of 100 million dollars for the renovation of the theater. Condé Nast Portfolio described him as "one of the most generous but low-key philanthropists in America".[9] He and his brother Charles have also donated to political advocacy groups, including Americans for Prosperity,[3] and to political campaigns, almost entirely Republican.[10] He is a survivor of the USAir Flight 1493 crash in 1991. Koch is the fourth richest person in America as of 2012,[11] and the wealthiest resident of New York City as of 2013.[12] He is the ninth-wealthiest person in the world, as of 2014.[13]

Early life and education

Koch was born in Wichita, Kansas, to Mary (née Robinson) and Fred Chase Koch, a chemical engineer. David's paternal grandfather, Harry Koch, was a Dutch immigrant who founded the Quanah Tribune-Chief newspaper and was a founding shareholder of Quanah, Acme and Pacific Railway. David is the third of four sons, with elder brothers Frederick R. Koch, Charles Koch, and 19 min younger twin[14] Bill Koch. He attended the Deerfield Academy prep school in Massachusetts, graduating in 1959. He went on to the Massachusetts Institute of Technology (MIT), earning both a bachelor's (1962) and a master's degree (1963) in chemical engineering. He is a member of the Beta Theta Pi Fraternity. Koch played basketball at MIT, averaging 21 points per game at MIT over three years, a school record. He also held the single-game scoring record of 41 points from 1962 until 2009, when it was eclipsed by Jimmy Bartolotta.[14]

Career at Koch Industries

In 1970, Koch joined Koch Industries under his brother Charles, to work as a technical-services manager. He founded the company’s New York office and in 1979 he became the president of his own division, Koch Engineering, renamed Chemical Technology Group. In 1985, Koch Industries was sued by Bill Koch and Frederick R. Koch for the first time in a long series of lawsuits about ownership, that lasted until 2001. As of 2010, David Koch owned 42 percent of Koch Industries, as his brother Charles.[3]

Political career

Koch was the Libertarian Party's vice-presidential candidate in the 1980 presidential election, sharing the party ticket with presidential candidate Ed Clark. The Clark–Koch ticket promised to abolish Social Security, the Federal Reserve Board, welfare, minimum-wage laws, corporate taxes, all price supports and subsidies for agriculture and business, and U.S. Federal agencies including the SEC, EPA, ICC, FTC, OSHA, FBI, CIA, and DOE.[2][15] The ticket received 921,128 votes, 1.06% of the total nationwide vote,[16] the Libertarian Party national ticket's best showing as of 2009 in terms of percentage.[17] “Compared to what [the Libertarians had] gotten before,” Charles said, “and where we were as a movement or as a political/ideological point of view, that was pretty remarkable, to get 1 percent of the vote.”[18]

After the bid, according to journalist Brian Doherty's Radicals for Capitalism, Koch viewed politicians as "actors playing out a script".[2][19]

Koch credits the campaign of Roger MacBride as his inspiration for getting involved in politics:

Here was a great guy, advocating all the things I believed in. He wanted less government and taxes, and was talking about repealing all these victimless crime laws that accumulated on the books. I have friends who smoke pot. I know many homosexuals. It's ridiculous to treat them as criminals—and here was someone running for president, saying just that.[15]

Koch gave his own Vice Presidential campaign $100,000 a month after being chosen as Ed Clark's running mate. "We'd like to abolish the Federal Elections Commission and all the limits on campaign spending anyway," Koch said in 1980. When asked why he ran, he replied: "Lord knows I didn't need a job, but I believe in what the Libertarians are saying. I suppose if they hadn't come along, I could have been a big Republican from Wichita. But hell—everybody from Kansas is a Republican."[15]

In 1984 he broke with the Libertarian Party when it supported eliminating all taxes and Koch has since been a Republican.[3]:4

Political stand

Political views

Koch supports policies that promote individual liberty and free market principles, and supports reduced government spending.[20] In an impromptu interview with the blog ThinkProgress, he was quoted as saying he would like the new Republican Congress to "cut the hell out of spending, balance the budget, reduce regulations, and support business."[21]

Koch considers himself a social liberal,[22] supporting women's right to choose,[23] gay rights, same-sex marriage and stem-cell research.[3][24] He is against the Patient Protection and Affordable Care Act and the Dodd–Frank Wall Street Reform and Consumer Protection Act.[3] He opposes the war on drugs[25] and is skeptical about anthropogenic global warming. He has said a warmer planet would be good because "Earth will be able to support enormously more people because a far greater land area will be available to produce food".[3]

Koch opposed the Iraq war, saying that the war has "cost a lot of money and it's taken so many American lives", and "I question whether that was the right thing to do. In hindsight that looks like it was not a good policy".[18]

Koch is critical of many of President Obama's policies. "He's the most radical president we've ever had as a nation... and has done more damage to the free enterprise system and long-term prosperity than any president we've ever had."[18] Koch believes that Obama's father's economic socialism explains what Koch views as Obama's belief in "antibusiness, anti-free enterprise influences."[18] Koch believes Obama himself is a "hardcore socialist" who is "marvelous at pretending to be something other than that".[26] Eighty-seven percent of David Koch's contributions went to Republicans in 2012.[27]

Political advocacy

In 1984, Koch founded, served as Chairman of the board of directors of, and donated to the free-market Citizens for a Sound Economy (CSE). Richard H. Fink served as its first president.[18] In 2004, CSE separated into the Americans for Prosperity Foundation and FreedomWorks. Koch continues as Chairman of the Board and gives money to the Americans for Prosperity Foundation and to a related advocacy organization, Americans for Prosperity. A Koch spokesperson issued a press release stating that the Kochs have "no ties to and have never given money to FreedomWorks".[28] Americans for Prosperity president Tim Phillips has stated “it was David’s vision that launched our organization" in a New York magazine article, which called Koch the "tea party’s wallet". Koch conceded that he sympathizes with the Tea Party movement, but denies directly supporting it, and said: "I’ve never been to a tea party event. No one representing the tea party has ever even approached me."[3] Koch addressed Tea Party leaders, telling them, "The American dream of free enterprise, capitalism is alive and well."[29]

Koch sits on the board and donates to the libertarian Cato Institute and Reason Foundation.[2][3][30]

Philanthropy

Koch established the David H. Koch Charitable Foundation.[31] Since 2006, the Chronicle of Philanthropy has listed Koch as one of the world's top 50 philanthropists.[32]

Medical research

In 1992, Koch was diagnosed with prostate cancer. He underwent radiation, surgery, and hormone therapy, but the cancer returned every time. Koch has said he believes his experience with cancer has encouraged him to fund medical research. [18] Koch says that his biggest contributions go toward a "moon shot" campaign to finding the cure for cancer, according to his profile on Forbes.[12] Between 1998 and 2012, Koch contributed at least $395 million to medical research causes and institutions.[33]

Koch sits on the Board of Directors of the Prostate Cancer Foundation and has contributed $41 million to the foundation, including $5 million to a collaborative project in the field of nanotechnology.[34] Koch is the eponym of the David H. Koch Chair of the Prostate Cancer Foundation, a position currently held by Dr. Jonathan Simons.

In 2006 he gave $20 million to Johns Hopkins University School of Medicine in Baltimore for cancer research. The building he financed was named the David H. Koch Cancer Research Building .[35]

In 2007, he contributed $100 million to the Massachusetts Institute of Technology for the construction of a new 350,000-square-foot (33,000 m2) research and technology facility to serve as the home of the David H. Koch Institute for Integrative Cancer Research,[36] Since joining the MIT Corporation in 1988 he has given a total of $185 million to MIT.[33] $15 million to New York-Presbyterian Hospital Weill Cornell Medical Center[37] and $30 million to the Memorial Sloan–Kettering Cancer Center in New York.[38]

In 2008, he donated $25 million to the University of Texas M. D. Anderson Cancer Center in Houston to establish the David Koch Center for Applied Research in Genitourinary Cancers.[39]

In 2011 Koch gave $5 million to the House Ear Institute, in Los Angeles, to create a center for hearing restoration,[32] and $25 million to the Hospital for Special Surgery in New York City[40] [41] In 2013 he gave $100 million to NewYork–Presbyterian Hospital, the largest philanthropic donation in its history, beginning a $2 billion campaign to conclude in 2019 for a new ambulatory care center and renovation the infrastructure of the hospital's five sites.[42]

Arts

In July 2008, Koch pledged $100 million over 10 years to renovate the New York State Theater in the Lincoln Center for the Performing Arts (now called the David H. Koch Theater),[43] and has pledged $10 million to renovate the outdoor fountains at the Metropolitan Museum of Art.[44]

Koch has been a trustee of the American Ballet Theatre for 25 years[45] and has contributed more than $6 million to the theater.[46] He also sits on the Board of Trustees of WGBH-TV, which produces more than two-thirds of the nationally distributed programs broadcast by PBS.[47]

Education

From 1982 to 2013, Koch contributed $18.6 million to WGBH Educational Foundation, including $10 million to the Public Broadcasting Service (PBS) show Nova.[48][verification needed] Koch is a contributor to the Smithsonian Institution in Washington, D.C., including a $20 million gift to the American Museum of Natural History, creating the David H. Koch Dinosaur Wing and a contribution of $15 million to the National Museum of Natural History to create the new David H. Koch Hall of Human Origins, which opened on the museum's 100th anniversary of its location on the National Mall on March 17, 2010.[49] In 2012, Koch contributed US $35 million to the Smithsonian to build a new dinosaur exhibition hall at the National Museum of Natural History.[50]

Koch also financed the construction of the $68 million Koch Center for mathematics, science and technology at the Deerfield Academy, a highly selective independent, coeducational boarding school at Deerfield, Massachusetts,[51] and was named its first and only Lifetime Trustee.[51]

Koch gave $10 million to the Cold Spring Harbor Laboratory[52] where he was honored with the Double Helix Medal for Corporate Leadership for supporting research that, "improves the health of people everywhere".[53]

Criticism

In August 2010, Jane Mayer of The New Yorker wrote an article on the political spending of David and Charles Koch: "As their fortunes grew, Charles and David Koch became the primary underwriters of hard-line libertarian politics in America."[2] Mayer's article was criticized by conservatives for not enumerating the Kochs' charitable donations.[18][54] Mayer's article was criticized by Koch Industries as using "psycho-biographic innuendo, unnamed sources, and half-truths".[55]

Mayer's article was criticized by the New York Observer for failing to mention that the Kochs' "free market philanthropy belies the immense profit they have made from corporate welfare".[56]

Kimberly O. Dennis, of the libertarian Searle Freedom Trust, and a member of the board of directors of several Koch-funded institutions, including Donors Trust, Donors Capital Fund, Property and Environment Research Center, and George Mason University, suggested in 2010 that the Kochs are acting against their economic interest in promoting "getting government out of the business of running the economy. If they were truly interested in protecting their profits, they wouldn’t be spending so much to shrink government; they’d be looking for a bigger slice of the pie for themselves. Their funding is devoted to promoting free-market capitalism, not crony capitalism."[57][58]

Recognitions

  • Double Helix Medal 2007 [59]

Time included Charles and David Koch among the Time 100 of 2011, for their involvement in supporting the Tea Party movement and the criticism they received from liberals.[60]

See also

References

  1. ^ a b "Koch, David Hamilton (1940)". New Netherland Project. Retrieved August 31, 2010. 
  2. ^ a b c d e Mayer, Jane (August 30, 2010). "Covert Operations: The billionaire brothers who are waging a war against Obama". The New Yorker. 
  3. ^ a b c d e f g h i Goldman, Andrew (July 25, 2010). "The Billionaire's Party: David Koch is New York’s second-richest man, a celebrated patron of the arts, and the tea party’s wallet". New York magazine. Retrieved August 26, 2010. 
  4. ^ "David Koch". Forbes. Retrieved 25 March 2015. 
  5. ^ Elizabeth Bumiller (January 11, 1998). "Woman Ascending A Marble Staircase". The New York Times. Retrieved August 31, 2010. 
  6. ^ NYT staff (May 26, 1996). "Weddings: Julia M. Flesher, David H. Koch". Style (The New York Times). Retrieved September 2, 2010. 
  7. ^ Cargill is the largest. David Koch - Libertarian, Advocates for Self-Government
  8. ^ Suzan Mazur, "The Altenberg 16: An Exposé of the Evolution Industry", North Atlantic Books, 2010, 343 pages
  9. ^ Weiss, Gary, "The Price of Immortality", Condé Nast Portfolio, November 2008.
  10. ^ Open Secrets: Koch Industries
  11. ^ "David Koch". Forbes. 
  12. ^ a b "David Koch - Forbes". Forbes. March 9, 2011. 
  13. ^ "Hurun Report Global Rich List 2014". Hurun Report. 
  14. ^ a b "http://www.newrepublic.com/article/114135/david-and-william-koch-mit-basketball-players". The New Republic. August 14, 2013. 
  15. ^ a b c Rinker Buck, "How Those Libertarians Pay the Bills", New York magazine, November 3, 1980
  16. ^ U.S. Presidential Election Atlas,
  17. ^ James T. Bennett, Not Invited to the Party: How the Demopublicans Have Rigged the System and Left Independents Out in the Cold, Springer, 2009, p. 167, ISBN 1-4419-0365-8.
  18. ^ a b c d e f g Continetti, Matthew (April 4, 2011). "The Paranoid Style in Liberal Politics". The Weekly Standard. 
  19. ^ Doherty, Brian (May 26, 2008). Radicals for Capitalism: A Freewheeling History of the Modern American Libertarian Movement. Perseus Books Group. p. 410. ISBN 978-1-58648-572-6. Retrieved October 10, 2011. 
  20. ^ Cooper, Michael (March 5, 2011). "Cancer Research Before Activism, Billionaire Conservative Donor Says". The New York Times. 
  21. ^ Fang, Lee (January 6, 2011). "Exclusive: Polluter Billionaire David Koch Says Tea Party ‘Rank And File Are Just Normal People Like Us’". ThinkProgress. 
  22. ^ Bell, Benjamin (December 14, 2014). "Billionaire David Koch Says He's a Social Lliberal". ABC News. Retrieved December 29, 2014. 
  23. ^ Fischer, Sara (December 15, 2014). "David Koch is pro-choice, supports gay rights; just not Democrats". CNN. Retrieved December 29, 2014. 
  24. ^ Joseph Patrick McCormick, Billionaire GOP supporter disagrees with platform, says he supports gay marriage, Pink News, September 2, 2012
  25. ^ The Koch Brothers December 24, 2012 page 96 Forbes
  26. ^ Owen, Sarah (May 5, 2011). "David Koch Gives President Obama Zero Credit for Bin Laden’s Death". New York. 
  27. ^ http://www.followthemoney.org/database/StateGlance/contributor.phtml?d=992300656
  28. ^ Weigel, David (April 15, 2010). "Dick Armey: Please, Koch, keep distancing yourself from me". Washington Post. 
  29. ^ Brian Ross More and Cindy Galli (7 October 2011). "Report: 'Secret Sins' of Koch Industries". ABC News. 
  30. ^ Sherman, Jake (August 20, 2009). "Conservatives Take a Page From Left's Online Playbook". The Wall Street Journal. 
  31. ^ "David H. Koch Charitable Foundation and Personal Philanthropy". Koch Family Foundations. Retrieved 17 November 2014. 
  32. ^ a b "No. 45: David H. Koch". The Chronicle of Philanthropy. The Chronicle of Philanthropy. Retrieved October 8, 2011. [dead link]
  33. ^ a b Sparks, Evan (Summer 2012). "The Team Builder". Philanthropy Magazine. Retrieved September 26, 2012. 
  34. ^ David H. Koch – Prostate Cancer Foundation Nano-Medicine Gift Announced - Prostate Cancer Foundation (PCF)
  35. ^ DAVID KOCH GIVES $20 MILLION FOR HOPKINS CANCER RESEARCH - 11/30/2006
  36. ^ Karagianis, Liz (2008). “Empathy for Others”. Spectrum
  37. ^ [1]
  38. ^ Beatty, Sally (October 9, 2007). "Institutional Gift, With a Catch". The Wall Street Journal. 
  39. ^ Profile Of Billionaire David Koch - Executives - Portfolio.com
  40. ^ "No. 45: David H. Koch". The Chronicle of Philanthropy. The Chronicle of Philanthropy. Retrieved October 8, 2011. 
  41. ^ [2]
  42. ^ NewYork-Presbyterian (April 2, 2013). "NewYork-Presbyterian Announces $100 Million Donation from David H. Koch — Largest in Hospital's History — to Fund Outpatient Facility on Manhattan's East Side". Retrieved June 1, 2013. 
  43. ^ Pogrebin, Robin (July 10, 2008). "David H. Koch to Give 100 Million to Theater". The New York Times. 
  44. ^ Souccar, Miriam Kreinin (June 27, 2010). "It's a Philanthropy Thing". Crains New York. 
  45. ^ Donnelly, Shannon (June 2, 2010). "American Ballet Theatre Celebrates 70th Season, David Koch's Birthday". Palm Beach Daily News. 
  46. ^ Cole, Patrick (May 17, 2010). "David Koch Toasted by Caroline Kennedy, Robert DeNiro". Bloomberg. 
  47. ^ [3]
  48. ^ Cassidy, Chris (October 4, 2013). "Activists put heat on ‘GBH to oust donor, board giant". Boston Herald. [dead link]
  49. ^ "Smithsonian to Open Hall Dedicated to Story of Human Evolution". The Washington Post. March 30, 2010. 
  50. ^ Smithsonian’s National Museum of Natural History to Build New Dinosaur Hall: $35 Million Donation from David H. Koch, May 3, 2012
  51. ^ a b Cobbs, Lucy (February 25, 2010). "David Koch Named Lifetime Trustee". Deerfield Scroll. 
  52. ^ "Cold Spring Harbor Laboratory surpasses capital campaign goal". July 15, 2009. 
  53. ^ "$3.1 Million Raised at Cold Spring Harbor Laboratory’s 2007 Double Helix Medals Dinner". November 21, 2007. 
  54. ^ Lewis, Matt (September 2, 2010). "Koch Brothers Donate to Charity as well as Right Wing Causes". Politics Daily. AOL News. Retrieved March 18, 2015. 
  55. ^ Nick, Gillespie. "The Official Koch Industries Reply to The New Yorker Hit Piece". reason.com. reason.com. Retrieved October 10, 2011. 
  56. ^ Levine, Yasha (September 1, 2010). "7 Ways the Koch Bros. Benefit from Corporate Welfare". New York Observer. Retrieved December 30, 2014. 
  57. ^ Dennis, Kimberly O. (November 15, 2010). "Democrats Can’t Blame the Koch Brothers (However Much They Might Want To)". National Review Online. Retrieved January 31, 2011. 
  58. ^ "George Mason University Board of Visitors: Kimberly Dennis". Retrieved December 30, 2014. 
  59. ^ http://doublehelixmedals.cshl.edu/history_07.html CSHL Double Helix Medal Honoree]
  60. ^ Ferguson, Andrew (April 21, 2011). "The 2011 TIME 100". TIME. Retrieved April 22, 2011. 

External links

Party political offices
Preceded by
David Bergland
Libertarian Party Vice-Presidential candidate
1980 (lost)
Succeeded by
James A. Lewis