Charles Koch facts for kids
Quick facts for kids
Charles Koch
|
|
|---|---|
.jpg)
Koch in 2019
|
|
| Born |
Charles de Ganahl Koch
November 1, 1935 Wichita, Kansas, U.S.
|
| Education | Massachusetts Institute of Technology (BS, MS) |
| Occupation | Businessman |
| Employer | Koch Industries |
| Title | Chairman and CEO of Koch Industries |
| Political party | Libertarian |
| Spouse(s) |
Liz Koch
(m. 1972) |
| Children |
|
| Parent(s) |
|
| Relatives |
|
| Signature | |
 |
|
Charles de Ganahl Koch (born November 1, 1935) is an American billionaire businessman. As of May 2025, he was ranked as one of the richest people in the world. His fortune was estimated to be over $71 billion.
Since 1967, Koch has been the chairman and CEO of Koch Industries. He shared ownership of the company with his late brother, David Koch. They each owned 42% of the business, which they inherited from their father, Fred C. Koch. The brothers worked to make the company much larger. Today, Koch Industries is the biggest privately owned company in the United States based on its income.
Koch supports groups called think tanks that promote libertarian ideas. A libertarian is someone who believes in having a lot of personal freedom and a small government. Some of these groups include the Cato Institute and the Institute for Humane Studies. He also gives money to the Republican Party, charities, and cultural groups.
Contents
Early Life and School
Charles Koch was born in Wichita, Kansas, where he still lives. He was one of four sons of Fred and Mary Koch. His grandfather was a Dutch immigrant who started a newspaper in Texas.
Even though he grew up in a rich family, Koch has said his childhood was not privileged. He said, "My father wanted me to work as if I was the poorest person in the world."
After high school, Koch went to the famous Massachusetts Institute of Technology (MIT). He studied engineering and earned three degrees. He focused on learning new ways to refine oil. After college, he worked for a company called Arthur D. Little, Inc.
Career at Koch Industries
In 1961, Koch returned to Wichita to work for his father's company, which was then called Rock Island Oil & Refining Company. In 1967, he became the president of the company and renamed it Koch Industries to honor his father.
In the 1980s, Charles and his brother David became the main owners of the company after buying out their other two brothers, Frederick and Bill.
Koch worked very hard, often spending 12 hours a day at the office. Under his leadership, the company grew enormously. In 2006, Koch Industries made $90 billion in revenue. Koch is also a director at other companies, including Invista and Georgia-Pacific.
Political and Economic Beliefs
Charles Koch calls himself a classical liberal and a libertarian. He believes the government should have a smaller role in people's lives and in business. He thinks that a free enterprise system, where companies compete freely, is best for the country.
Koch has said he worries about too much government regulation. He believes that when the government spends too much money, it can harm the country's economy in the long run.
Influences and Ideas
Koch has been influenced by many thinkers, including Adam Smith and F. A. Harper. He especially admires the Austrian School of economics, a set of ideas about how economies work best with less government control. He also admires U.S. presidents like George Washington and Calvin Coolidge.
Koch is against "big government" and what he calls the "political class." He also opposes corporate welfare, which is when the government gives special financial help to businesses. He has even argued against government support for ethanol, a type of fuel, even though his own company produces it.
Market-Based Management
Koch developed a business philosophy called "market-based management" (MBM). He wrote about it in his 2007 book, The Science of Success. MBM uses ideas from economics to run a company. It encourages employees to use their own knowledge and make decisions, similar to how a free market works. The goal is to create the most value for the company and society.
Political and Charitable Work
Koch supports many organizations that promote free-market and libertarian ideas. He helped start the Cato Institute, a well-known think tank in Washington, D.C. A think tank is a group of experts who research and give advice on important issues.
He also supports the Institute for Humane Studies (IHS), which helps students and young professionals who are interested in classical liberal ideas. The Charles G. Koch Foundation gives money to nearly 200 colleges and universities in the U.S. for programs that study free societies.
In 2019, his foundation helped create the Quincy Institute for Responsible Statecraft, a think tank that promotes peace and opposes war.
Views on Climate Change
Koch agrees that humans are contributing to climate change. However, he does not support government regulations as the main solution. Instead, he believes that new technology and ideas from private companies are the best way to reduce pollution while also lowering costs.
Critics point out that Koch has given a lot of money to groups that have argued against environmental rules. They say this is because his business is in the fossil fuel industry. For example, Koch-backed groups have fought against the Environmental Protection Agency's efforts to control carbon emissions.
At the same time, Koch has also supported the Berkeley Earth Surface Temperature project, a scientific effort to create an open database of the Earth's temperatures.
Other Political Activities
Koch has supported many political causes and candidates over the years. He supported his brother David's run for vice president on the Libertarian Party ticket in 1980. He was also a major supporter of the Tea Party movement, a political movement that called for lower taxes and less government spending.
In recent years, Koch has worked with people from different political parties on certain issues. For example, he has worked with both Democrats and Republicans to reform the criminal justice system. He believes the system is unfair to poor and minority communities.
In 2020, Koch said he regretted how much he had contributed to the deep political division in the United States. He said he wanted to work with people from all parties to find common ground.
Personal Life
Koch married his wife, Liz, in 1972. They have two children, a son named Chase Koch and a daughter named Elizabeth Koch.
He prefers to stay out of the spotlight and does not often give interviews to the media. He lives in Wichita, Kansas, but also has homes in California and Colorado.
In 2011, Time magazine named Charles and his brother David among the 100 most influential people in the world.
See also
In Spanish: Charles Koch para niños
- Charles Koch Institute
- The World's Billionaires
- Quincy Institute for Responsible Statecraft
- Koch Brothers Exposed (2012)
