Charles Koch Net Worth 2024

Charles Koch net worth 2024: Charles de Ganahl Koch is an American billionaire businessman. Koch has been co-owner, chairman, and chief executive officer of Koch Industries since 1967, while his late brother David Koch served as executive vice president. Charles and David each owned 42% of the conglomerate. The brothers inherited the business from their father, Fred C. Koch, then expanded the business.

Charles Koch net worth and Biography

As of 2024, Charles Koch net worth is valued at $55 billion making him one of the richest men in the world. Koch has been co-owner, chairman, and chief executive officer of Koch Industries since 1967, while his late brother David Koch served as executive vice president. Read Alice Walton net worth

Biography

Koch was born and lives in Wichita, Kansas, one of four sons of Clementine Mary and Fred Chase Koch. Koch’s grandfather, Harry Koch, was a Dutch immigrant who settled in West Texas, founded the Quanah Tribune-Chief newspaper, and was a founding shareholder of Quanah, Acme and Pacific Railway.

After attending several private high schools, Koch was educated at the Massachusetts Institute of Technology. He is a member of the Beta Theta Pi fraternity. 

He received a Bachelor of Science (B.S.) in General Engineering in 1957, a Master of Science (M.S.) in Nuclear Engineering in 1958, and a second M.S. in Chemical Engineering in 1960.

After college, Koch started work at Arthur D. Little, Inc.

In 1961 he moved back to Wichita to join his father’s business, Rock Island Oil & Refining Company, now known as Koch Industries. In 1967, he became president of the business, which was then a medium-sized oil firm.

In the same year, he renamed the firm Koch Industries in honor of his father. Charles’s brothers Frederick and Bill had inherited stock in Koch Industries.

In June 1983, after a legal and boardroom battle, the stakes of Frederick and Bill were bought out for $1.1 billion and Charles and his younger brother David became majority owners in the company

Koch has been a director of INTRUST Financial Corp. since 1982 and director of Koch Industries Inc. since 1982. He is director of resin and fiber company Invista and director of Georgia-Pacific LLC, paper and pulp products. Koch founded or helped found several organizations, including the Cato Institute, the Institute for Humane Studies and the Mercatus Center at George Mason University, the Bill of Rights Institute, and the Market-Based Management Institute. He is a member of the Mont Pelerin Society.

Koch has been married to his wife Liz since 1972. He has two children, Chase Koch and Elizabeth Koch.

Charles Koch net worth

As of 2024, Charles Koch net worth is valued at $55 billion making him one of the richest men in the world. Koch Industries is the largest privately held company by revenue in the United States, according to Forbes. 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

Among the awards received by Charles Koch are

• Wichita State University Entrepreneur in Residence
• Wichita District Minority Small Business Advocate of the Year
• The Individual Recognition Award from the Wichita/Sedgwick County Arts and Humanities Council
• The Uncommon Citizen Award from the Wichita Chamber of Commerce
• The 2011 William E. Simon Prize for Philanthropic Leadership from the Philanthropy Roundtable
• The 2011 Defender of Justice award from the National Association of Criminal Defense Lawyers
• In 2013, AdvisoryCloud ranked him number two on their Top Chief Executive List 
• In 2022, Ellis Island Honors Society presented Charles Koch with the Ellis Island Medal of Hono

Source: Glusea