PERSON: Charles Koch

Koch Industries

CEO

Charles de Ganahl Koch (born November 1, 1935) is an American businessman and philanthropist. He is co-owner, chairman of the board, and chief executive officer of Koch Industries, while his brother David H. Koch serves as Executive Vice President. Charles and David each own 42% of the conglomerate. The brothers inherited the business from their father, Fred C. Koch, then expanded the business. Originally involved exclusively in oil refining and chemicals, Koch Industries now includes process and pollution control equipment and technologies; polymers and fibers; minerals; fertilizers; commodity trading and services; forest and consumer products; and ranching. The businesses produce a wide variety of well-known brands, such as Stainmaster carpet, the Lycra brand of spandex fiber, Quilted Northern tissue and Dixie Cup.<br> <br> In 2007, Koch’s book The Science of Success was published. The book describes his management philosophy, referred to as “Market-Based Management.”<br> <br> Koch Industries is the second-largest privately held company by revenue in the United States according to a 2010 Forbes survey. In February 2014, Koch was ranked 9th richest person in the world by Hurun Report with an estimated net worth of $36 billion. Previously, in October 2012 he was ranked the 6th richest person in the world with an estimated net worth of $34 billion—according to the Bloomberg Billionaires Index—and was ranked 18th on Forbes World’s Billionaires list of 2011 (and 4th on the Forbes 400), with an estimated net worth of $25 billion, deriving from his 42% stake in Koch Industries.<br> <br> Koch supports a number of free market-oriented educational organizations, including the Institute for Humane Studies and the Mercatus Center at George Mason University. He also contributes to the Republican Party and candidates, Libertarian groups, and various charitable and cultural institutions. He co-founded the Washington, DC-based Cato Institute. Through the Koch Cultural Trust, founded by Charles Koch’s wife, Elizabeth, the Koch family has also funded artistic projects and creative artists<br> <br> — Wikipedia