Who are the Koch Brothers?
The Koch Brothers own Koch Industries based out of Wichita, Kansas. It’s one of the worlds largest private companies estimated to worth billions. The company employs 50,000 people in the United States and another 20,000 in 59 other countries. It was started in 1940 by the father, Fred Koch.
The Koch (pronounced like “coke”) brothers are mostly in the news for their conservative political support and activities. They generally keep a low profile working behind the scenes at both the company and at politics.
Charles and David are worth billions.
How rich are they? (2011 estimate by Forbes)
Charles Koch: $25 billion net worth
David Koch: $25 billion net worth
How much is $25 billion?
If you had $25 billion, you could spend $1 million every DAY for 68 years.
Koch Industries is involved in many different industries including: oil refining, chemical production, lumber & paper products (Georgia Pacific), an commodities trading (speculation), and even a cattle ranch. They have numerous subsidiary companies throughout the world.
In 2013, Forbes called it the second largest privately held company in the United States (after Cargill), with an annual revenue of $115 billion. If Koch Industries were a public company in 2013, it would have ranked 17 in the Fortune 500.
It appears Charles, David and Bill inherited their father’s libertarian political attitudes. Charles and David Koch are involved with, or fund, many right-wing groups. David was the Libertarian party’s vice-presidential candidate in 1980.
Bill is also involved in conservative actions but is not generally involved with the same issues, or same groups, as Charles and David. It appears Fred Koch is heavily involved in philanthropic causes and not politics.
Koch-Funded Right-Wing Groups:
A few of the better-know groups the Kochs founded or fund include The Heritage Foundation, The Cato Institute, FreedomWorks and AFP (Americans For Prosperity). According to this account, the Koch-funded FreedomWorks played a key role in forming and promoting the Tea Party.
Because of their conservative, right-wing, libertarian views and activities, Democratic, liberal, and progressive people are constantly attacking them personally. See Fox News “Dems, Reid attack Koch Brothers“.