Koch family
Encyclopedia
The Koch family of industrialists and businessmen is most notable for their control of Koch Industries
, the second largest privately owned company in the United States. The family business was started by Fred C. Koch
, who developed a new cracking
method for the refinement
of heavy oil
into gasoline. Fred's four sons became involved in litigation against each other in the 1980s and 1990s. 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."
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."
policy and advocacy groups in the United States. 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
. Americans for Prosperity and FreedomWorks
are Koch-linked organizations that have been linked to the Tea Party movement
.
Koch Industries
Koch Industries, Inc. , is an American private energy conglomerate based in Wichita, Kansas, with subsidiaries involved in manufacturing, trading and investments. Koch also owns Invista, Georgia-Pacific, Flint Hills Resources, Koch Pipeline, Koch Fertilizer, Koch Minerals and Matador Cattle Company...
, the second largest privately owned company in the United States. The family business was started by Fred C. Koch
Fred C. Koch
Fred Chase Koch was an American chemical engineer and entrepreneur who founded the oil refinery firm that later became Koch Industries, the second-largest privately-held company in the United States....
, who developed a new cracking
Cracking (chemistry)
In petroleum geology and chemistry, cracking is the process whereby complex organic molecules such as kerogens or heavy hydrocarbons are broken down into simpler molecules such as light hydrocarbons, by the breaking of carbon-carbon bonds in the precursors. The rate of cracking and the end products...
method for the refinement
Oil refinery
An oil refinery or petroleum refinery is an industrial process plant where crude oil is processed and refined into more useful petroleum products, such as gasoline, diesel fuel, asphalt base, heating oil, kerosene, and liquefied petroleum gas...
of heavy oil
Oil
An oil is any substance that is liquid at ambient temperatures and does not mix with water but may mix with other oils and organic solvents. This general definition includes vegetable oils, volatile essential oils, petrochemical oils, and synthetic oils....
into gasoline. Fred's four sons became involved in litigation against each other in the 1980s and 1990s. 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."
David H. Koch
David H. Koch
David Hamilton Koch is an American businessman, philanthropist, political activist, and chemical engineer. He is a co-owner and an executive vice president of Koch Industries, a conglomerate that is the second-largest privately held company in the U.S...
and Charles G. Koch
Charles G. Koch
Charles de Ganahl Koch is co-owner, chairman of the board and chief executive officer of Koch Industries Inc., the second-largest privately held company by revenue in the United States according to a 2010 Forbes survey...
—the two brothers still with Koch Industries—are affiliated with the Koch family foundations
Koch Family Foundations
Koch Family Foundations is the informal name for a group of charities in the United States of America associated with the family of Fred C. Koch. The most prominent of these are the Charles G. Koch Charitable Foundation and the David H. Koch Charitable Foundation, created by two of Fred C...
. Annual revenues for Koch Industries have been "estimated to be a hundred billion dollars."
Political activities
David and Charles have funded conservative and libertarianLibertarianism in the United States
Libertarianism in the United States is a movement promoting limited government and individual liberties. Although libertarianism exists in two major forms worldwide, right-libertarianism and left-libertarianism, right-leaning libertarianism tends to be the dominant form in the United States...
policy and advocacy groups in the United States. Since the 1980s the Koch foundations have given more than $100 million to such organizations, among these think tanks like the Heritage Foundation
Heritage Foundation
The Heritage Foundation is a conservative American think tank based in Washington, D.C. Heritage's stated mission is to "formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong...
and the Cato Institute
Cato Institute
The Cato Institute is a libertarian think tank headquartered in Washington, D.C. It was founded in 1977 by Edward H. Crane, who remains president and CEO, and Charles Koch, chairman of the board and chief executive officer of the conglomerate Koch Industries, Inc., the largest privately held...
, as well as more recently Americans for Prosperity
Americans for Prosperity
Americans for Prosperity is a Washington, D.C.–based political advocacy group. According to their literature, they promote economic policy that supports business, and restrains regulation by government...
. Americans for Prosperity and FreedomWorks
FreedomWorks
FreedomWorks is a conservative non-profit organization based in Washington D.C., United States. FreedomWorks trains volunteers, assists in campaigns, and encourages them to mobilize, interacting with both fellow citizens and their political representatives....
are Koch-linked organizations that have been linked to the Tea Party movement
Tea Party movement
The Tea Party movement is an American populist political movement that is generally recognized as conservative and libertarian, and has sponsored protests and supported political candidates since 2009...
.
Family members
- Fred C. KochFred C. KochFred Chase Koch was an American chemical engineer and entrepreneur who founded the oil refinery firm that later became Koch Industries, the second-largest privately-held company in the United States....
(1900–1967), American chemical engineer and entrepreneur who founded the oil refinery firm that later became Koch Industries - Mary Robinson Koch, wife of Fred C. The company tanker vessel Mary R. KochMary R. KochThe Mary R. Koch was a 274.330 t combined ore carrier and oil tanker. The ship was named after Mary Robinson Koch, wife of American industrialist Fred C. Koch....
is a namesake. - Frederick R. KochFrederick R. KochFrederick Robinson Koch is an American collector and philanthropist, the eldest of the four sons born to American industrialist Fred C. Koch, founder of what is now Koch Industries, and Mary Robinson Koch...
(1933–), collector and philanthropist - Charles G. KochCharles G. KochCharles de Ganahl Koch is co-owner, chairman of the board and chief executive officer of Koch Industries Inc., the second-largest privately held company by revenue in the United States according to a 2010 Forbes survey...
(1935–), Chairman of the Board and Chief Executive Officer of Koch Industries - David H. KochDavid H. KochDavid Hamilton Koch is an American businessman, philanthropist, political activist, and chemical engineer. He is a co-owner and an executive vice president of Koch Industries, a conglomerate that is the second-largest privately held company in the U.S...
(1940–), Executive Vice President of Koch Industries - William KochBill Koch (businessman)William Ingraham "Bill" Koch is an American businessman, sailor, and collector. His boat was the winner of the America's Cup in 1992. His last name is pronounced "coke." Per Forbes William Koch's net worth was $3.4 billion in 2010 on oil and other investments-Early life and business...
(1940–), businessman, sailor, and collector
See also
- David Koch Theatre
- Charles Koch ArenaCharles Koch ArenaCharles Koch Arena , popularly known as The Roundhouse, is a 10,506-seat multi-purpose arena on the campus of Wichita State University in Wichita, Kansas. It is home to the Wichita State Shockers men's and women's basketball and women's volleyball teams....
- David H. Koch Institute for Integrative Cancer ResearchDavid H. Koch Institute for Integrative Cancer ResearchThe David H. Koch Institute for Integrative Cancer Research is a cancer research center affiliated with the Massachusetts Institute of Technology located in Cambridge, Massachusetts, United States...
- The Science of Success, a book by Charles Koch in which he attributes the success of the family business to Market-Based Management.
- Koch IndustriesKoch IndustriesKoch Industries, Inc. , is an American private energy conglomerate based in Wichita, Kansas, with subsidiaries involved in manufacturing, trading and investments. Koch also owns Invista, Georgia-Pacific, Flint Hills Resources, Koch Pipeline, Koch Fertilizer, Koch Minerals and Matador Cattle Company...