Biography
Charles Koch has been chairman of Koch, Inc., America's second largest private company by revenue, since 1967. He brought on his first ever co-CEO in 2023. The diversified company has some $125 billion in revenues from businesses including pipelines, chemicals, software, automotive components and Dixie cups. His father, Fred Koch, improved a method of refining heavy oil into gasoline in 1927 and started the family business in 1940. In 1983, Charles and his brother David (d. 2019) bought out their siblings Bill and Frederick (d. 2020) for a reported $800 million. David's widow Julia Koch inherited his 42% stake. From 2020 to 2022, Charles transferred $5.3 billion of Koch, Inc.'s nonvoting stock to a pair of nonprofits with fewer restrictions on lobbying and politics than traditional charities. Forbes estimates those shares accounted for nearly a tenth of the 42% stake previously held by Charles (though he still has 42% voting power).