Points to Remember:
- US industrialist David Koch, who ran Koch Industries with his brother Charles Koch, died aged 79.
- Koch, whose wealth Bloomberg estimates at $59 billion, was a philanthropist and a major financier of conservative causes and political candidates.
- He derived most of his wealth from a 42% stake in Koch Industries, which has annual revenue of about $110 billion.
About David Koch:
- David Koch was an American businessman, philanthropist, political activist, and chemical engineer.
- He joined the family business Koch Industries, the second-largest privately held company in the United States, in 1970.
- He became president of the subsidiary Koch Engineering in 1979, and became a co-owner of Koch Industries, with elder brother Charles, in 1983.
- He served as an executive vice president until his retirement in 2018.
- Upon retirement in June 2018 due to health issues, Koch received the title of Director Emeritus.
- As of March 2019 he was ranked as the 11th-richest person in the world, with an estimated net worth of $50.5 billion.
Important Possible questions based on above News:
- David Koch, who recently passed away, he was a famous? Industrialist
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