Net Worth:	$58 Billion
Born:	May 3, 1940
Died:	August 23, 2019
Country of Origin:	United States of America
Source of Wealth:	Entrepreneur
Last Updated:	May 5, 2024

Introduction 

David Hamilton Koch was an American businessman best known for being the co-owner of Koch Industries. 

At his time of passing, David Koch’s net worth was roughly $58 Billion, making him one of the wealthiest entrepreneurs in the world, alongside his brother Charles Koch. 

Early Life

David Hamilton Koch was born on the 3rd of May, 1940, in Wichita, Kansas.

His father was a chemical engineer cum businessman who founded the Koch Industries the same year David was born.

David has three brothers: Frederick, Charles, and William. 

Koch attended the Deerfield Academy prep school in Massachusetts, graduating in 1959.

Career 

With his family background including some of the wealthiest people in the world, David Koch’s career as a leading industrialist was secured from birth.

His extensive educational background at MIT, where he earned a bachelor’s and master’s degree in chemical engineering, gave him the experience to excel.

By 1970, David Koch had followed in his family’s footsteps, joining the ranks of Koch Industries and working under his brother, Charles.

Early Career Joining Koch Industries

Throughout his career at Koch Industries, David Koch demonstrated his combination of technical know-how and business-savvy expertise.

After working as a technical services manager, Koch was promoted to the president of his division, Koch Engineering, in 1979.

Renamed Chemical Technology Group, the new position saw him continue to shine within the company as an innovative technician.

A legal dispute between Charles and David Koch with his twin brother Bill and his father, Frederick, led to Charles and David Koch becoming majority owners.

This move significantly increased his net worth, and by 2010 the brothers owned 42% of Koch Industries, where David served as executive VP until 2018.

Political Activities & Campaigning

With his vast personal fortune and access to America’s rich and powerful, David Koch has been associated with some of the richest politicians in the world over the years.

During the 1980s, he was closely associated with the fledgling Libertarian politicians including Ed Clark, working to abolish the Federal Reserve Board.

He continued to support the Libertarian Party over the following decades before turning his support to the Republican Party in later years.

This includes supporting the party during the tenure of Donald Trump and backing his political campaign through to the late 2010s.

Advocacy Funding & Initiatives

A core component of David Koch’s contributions to politics includes many advocacy activities and other initiatives to reshape the American landscape.

During the Obama administration, Koch was a firm backer of prison reform and attempts to restructure the criminal justice system.

As the founder of the Citizens for a Sound Economy group, he worked with others to provide funding for the Americans for Prosperity Foundation.

Koch also sat on the board of the Cato Institute for many years, regularly donating funds to the organization and challenging climate change initiatives.

While some political analysts placed Koch among hardliners during this period, others commended him for his work and influence in these spheres.

Along with his brother Charles, David Koch was named among the Time 100 for his involvement in supporting the Tea Party movement of activists.

Philanthropy & Medical Research Funding

Like many other highly successful businessmen such as Bill Gates, David Koch has also invested funds and resources in philanthropic endeavors.

This includes extensive contributions to medical research and development, notably funding research to discover a cure for cancer.

In 2007, he contributed over $100 million and made additional smaller donations to establish the David H. Koch Institute for Integrative Cancer Research.

His funding has also been used to develop cures and assist with research into hearing loss and restoration at the House Ear Institute.

Educational initiatives have also received support and funding from David Koch, with a $10 million donation to PBS and the American Museum of Natural History.

Koch has also supported the arts in the United States as the longest-serving trustee of the American Ballet Theater and other notable institutions.

In 2008, Koch pledged $100 million to renovate the New York State Theater, renamed the David H Koch Theater to mark his dedication.

David Koch Net Worth

At his time of death, David Koch’s net worth was $58 Billion.

Highlights 

Here are some of the best highlights of David Koch’s career: 

• Koch Industries 
• President of Koch Engineering (1979)

Favorite Quotes from David Koch 

“The way I look at it is, cancer research is absolutely nonpartisan.” – David Koch 

“I contribute to public candidate campaigns, and there’s a federal limit on how much you can contribute to each individual candidate. I obey the law in that regard, and I feel like I’m doing it properly.” – David Koch 

“When I was a bachelor with a different girl on my arm every week, people didn’t think I was quite legitimate.” – David Koch 

“The only dancing I did was at the discotheques. I was a very good disco dancer. I say that I learned disco dancing at the wrong places.” – David Koch 

“Federal Police have helped Malaysian authorities to stop 34 Sri Lankans and Indians boarding a boat to Australia. Three members of a people-smuggling syndicate were also arrested. What’s your intelligence showing? Are we seeing increased activity by people smugglers in Asia focusing on Australia again.” – David Koch 

“I think, though, players need to understand community standards, too, in terms of the psychological war games that go on during a football match. Maybe the old fashioned sledding and some of the terms that we use need to get back into community standards. I think that’s a reminder and a good thing for players.” – David Koch 

3 Lessons from David Koch for Entrepreneurs

Let’s take a look at some of the best leadership lessons we can learn from him:

1. You Don’t Need a Fancy Address to Build a Massive Company

I see it a lot in the world of finance: entrepreneurs starting a venture capital firm feel they won’t get the respect they deserve if they aren’t headquartered in Toronto or New York. Oil & gas entrepreneurs often feel they have to be headquartered in Houston or Calgary, and tech companies Silicon Valley.

2. Going Into Business with Family Can Strain Relationships

I’m a staunch supporter of going into business with family or friends. You have to trust your business partners implicitly.

3. Never Give Up On Your Dreams 

Often misrepresented by the mainstream media, there is much we can learn from the Koch brothers. Building one of the world’s largest private companies in Koch Industries wouldn’t have been possible without the entrepreneurial acumen of these men.

Summary

David Koch was a very successful businessman and political activist.

In 1970, he became president of Koch Engineering and co-owner of Koch Industries with his older brother Charles.

At his time of death, David Koch’s net worth was estimated to be $58 Billion. Alongside his brother Charles, they were considered two of the wealthiest brothers in the world, without question.

What do you think about David Koch’s net worth? Leave a comment below. 

What is German Khan’s net worth? 

Net Worth:	$10 Billion
Age:	62
Born:	October 24, 1961
Gender:	Male
Height:	Unknown
Country of Origin:	Ukraine
Source of Wealth:	Entrepreneur
Last Updated:	May 5, 2024

Introduction 

German Khan is a Ukrainian-Russian billionaire businessman.

Khan is best known as the head of the wholesale trade business Alfa Eco, which is part of the Alfa Group Consortium.

Khan was born into a Jewish family in Ukraine. He was very interested in sports growing up and trained to become a boxer during high school. 

As of May 2024, German Khan’s net worth is estimated to be roughly $10 Billion.

Early Life 

German Borisovich Khan was born on the 24th of October, 1961, in Kyiv, Ukraine.

Khan is the son of Ukrainian Jewish parents from Lviv. His father was a metallurgy professor.

He had a keen interest in sports at a young age, and during high school, he developed a long-term interest in boxing, citing the sport as an influence on building confidence and self-discipline.

Khan graduated from high school in 1978 and subsequently worked for a year as an apprentice on a factory shop floor.

Career 

German Khan got his start after graduating from the Moscow Institute of Steel and Alloys (MISIS) in 1988. 

After opening a small clothing cooperative called Alexandria, he had a chance meeting with Mikhail Fridman, who’d also attended MISIS. 

Fridman asked Khan to take over as the head of Alfa Eco, his wholesale trade business, as a part of Alfa Group Consortium. 

At Alfa, Khan held several managerial positions and was the head of trade operations until 1996. 

He was also the director of commodity trading from 1995 to 1998 and was made president in 1996, serving a two-year tenure. 

In 2000, Khan was appointed deputy chairman of the management board of TNK Oil after the Alfa Group acquired it. 

Now rubbing elbows with the likes of Gennady Timchenko, German Khan had successfully established himself as a formidable businessman. 

TNK-BP & LetterOne

In 2003, half of TNK was sold to British Petroleum in the most significant foreign investment in Russian history. 

This created TNK-BP, owned by the Alfa Group, Leonard Blavatnik, and Viktor Vekselberg.

German Khan served as the executive director of TNK-BP from 2003 to 2013 and was also involved with the Alfa Group as a whole. 

During his tenure, TNK-BP became the third-largest oil company in Russia and one of the top ten private oil producers in the world. 

By 2011, Khan’s net worth had increased to $9.6 billion, making him the thirteenth most wealthy person in Russia. 

However, in 2012, TNK-BP was sold to the state-owned company Rosneft, which prompted Khan to leave a year later. 

Soon after, he joined Mikhail Fridman in creating LetterOne and Letter One L1 Energy in 2013.

Unfortunately, 2014 saw a sudden downturn in the oil industry and the falling value of the ruble,  which caused Khan to lose roughly 22% of his net worth. 

Thankfully, the market improved by 2015, and L1 Energy purchased 100% of the international exploration and production company DEA. 

Khan’s Recent Business

Soon after acquiring DEA, all its oil fields in the North Sea were sold to James Ratcliffe’s company INEOS for an undisclosed sum. 

LetterOne then acquired German utility company E.ON’s interests in constructing three new oil fields along the Norwegian Continental Shelf. 

Since then, German Khan has retained his position on the supervisory board at Alfa Group Consortium and Alfa Group. 

He is also the director of Alfa Fiance Holdings, Alfa Bank, LetterOne Holdings, and ABH Holdings and a member of the board of DEA Deutsche Erodel.

Business continued to go smoothly for Khan until March 2022, when he and Fridman were sanctioned by governments in the UK and EU.

This was part of an extensive list of sanctions targeting Russian oligarchs and officials in response to the Russian Invasion of Ukraine in February 2022. 

Following this, Khan stepped down from his position at LetterOne, and in April 2022, Alfa-Bank was sanctioned by the US. 

Although he challenged the EU sanctions, the EU’s General Court denied his appeals in late 2023. 

In early 2024, Khan’s wife, Anzhelika, also lost a similar appeal against British sanctions, and her case was dismissed.

German Khan Net Worth

As of May 2024, German Khan’s net worth is estimated to be roughly $10 Billion.

How Does German Khan Spend His Money? 

German Khan spends some of his money on charity work. 

German Khan’s Charity Work 

Khan supports the LifeLine charitable program and has helped provide medicine for ill children in Russia. 

Highlights 

Here are some of the best highlights of German Khan’s career: 

• Alfa Eco
• Deputy Chairman of TNK Oil Company (1997-2003)

Favorite Quotes From German Khan 

“I have never taken it upon myself to create a group of students, or anyone for that matter, who would consider me a teacher. I never intentionally teach anyone. There are, however, several people who have grown with the company.” – German Khan 

“There are some processes that I see as extremely bureaucratic. On the other hand, it is necessary to have a reasonable balance between entrepreneurship and bureaucracy. The most important skill is being able to find this balance and build on it in a way that suits those involved.” – German Khan 

“In my work, I have various task forces. There are issues related to my position as an owner of this company and other Alfa-Group businesses. We have a large number of connections, contacts, and people, so if someone turns to me for advice or help, I always find time for them.” – German Khan 

“The second set of issues involves running the company through the executive management, which consists of five people. Company management here is done in a relatively democratic manner, which has both benefits and shortcomings.” – German Khan 

“Third, there are issues related to our global strategy: where the company needs to go, what it needs to do and how it needs to do it. This requires entrepreneurial skills because these are projects concerning startups, entering new regions and new products.” – German Khan 

3 Awesome Lessons From German Khan 

Now that you know all about German Khan’s net worth and how he achieved success, let’s take a look at some of the most vital lessons we can learn from him:

1. State Of Mind

Success is a state of mind. If you want success, start thinking of yourself as a success.

2. Struggling Can Be Good 

Always remember that striving and struggle precede success, even in the dictionary.

3. Instincts 

Khan believes in pure self-instinct. He tries to understand what is most important at each stage and concentrates on that.

Some minor issues naturally arise along the way that he mostly delegates and returns to periodically. 

Frequently Asked Questions

How much is German Khan worth?

German Khan’s net worth is estimated to be $10 Billion.
 

How old is German Khan?

German Khan was born on October 24, 1961, and is currently 62 years old.
 

How tall is German Khan?

German Khan’s height is Unknown.
 

Summary

German Khan is a Russian businessman who owns Russia’s biggest financial and industrial group, Alfa Group.

Khan graduated from the institute in 1988 and later joined the Alfa-Eco holding company, which he controls today.

It was founded in 1991 and has grown to be one of the largest banks in Russia. 

As of May 2024, German Khan’s net worth is estimated to be roughly $10 Billion. 

What do you think about German Khan’s net worth? Leave a comment below. 

Net Worth:	$98.3 Billion
Age:	88
Born:	March 28, 1936
Gender:	Male
Height:	1.73 m (5 ft 8 in)
Country of Origin:	Spain
Source of Wealth:	Entrepreneur
Last Updated:	May 5, 2024

What is Amancio Ortega’s net worth?

Introduction

As of May 2024, Amancio Ortega Gaona’s net worth is approximately $98.3 Billion.

Amancio Ortega Gaona is a Spanish billionaire businessman.

Ortega is the founder and former chairman of Inditex fashion group which is best known for its chain Zara clothing and accessories shops.

He is the second-wealthiest person in Europe after Bernard Arnault. 

Early Life 

Amancio Ortega Gaona was born in Busongo de Arbas, Leon, Spain on the 28th of March, 1936.

He is the son to Antonia Ortega Rodriguez and Josefa Gaona Hernandez. He mostly spent his childhood in Leon. 

Ortega left school at an early age and moved to A Coruna at the age of 14.

Shortly after, he found a job as a shop hand for a local shirtmaker called Gala, which still sits on the same corner in downtown A Coruña. 

Career

Amancio Ortega grew up as the son of a railway worker and landed his first hand-made shirt job when he was 14. 

Unlike Philip Anschutz or David Thomson, Ortega didn’t have family wealth to help him start his career, so he built himself independently. 

In 1963, he founded Confecciones Goa, a business selling quilted bathrobes, which helped him earn much money. 

After marrying Rosalia Mera Goyenechea in 1966, the couple opened the fast fashion company Zara in 1975. 

The Retail Industry

Since its launch, Amancio Ortega’s Zara brand has opened stores worldwide, with 2,007 locations currently. 

In 2010, it became one of the most popular brands online when it opened its online boutique in Jordan, Austria, Ireland, Belgium, and Luxembourg. 

In subsequent years, the online boutique expanded to include the U.S., Russia, Canada, Mexico, India, Brazil, and more. 

By 2015, Zara had become one of the top global brands specializing in clothing and home designs. 

In 2021, Zara launched its first beauty line, Zara Beauty, a detergent that reduces abrasion during wash cycles. 

The same year, Zara left Venezuela following economic struggles in the country, and in 2023, it left Russia after selling the business there to Fashion and More Management. 

Zara Controversies

While not as controversial as Elon Musk nowadays, Amancio Ortega has still been in trouble throughout his career. 

In 2007, he faced backlash after a customer complained about a swastika design on a handbag that came from an outside supplier. 

Zara later faced accusations of antisemitism for selling a striped toddler t-shirt with a large yellow star on the chest. 

Although the design was supposed to be based on an old west sheriff, others felt it resembled a concentration camp uniform. 

The shirt was removed a few hours after it went up for sale, and the brand apologized for the misunderstanding. 

In 2011, Zara was accused of using sweatshops to produce products after a factory in Brazil was closed for poor labor conditions. 

A few years later, BBC News reported they had found evidence of child labor in factories in Turkey, and Zara responded that the issues had since been solved.  

Most recently, the Finnish Occupational Safety and Health Administration found illegal labor practices in four Zara stores. 

Ortega’s Other Ventures

In 2009, Amancio Ortega became part of the Inditex group, owning 59.29%, which included the Zara brands, Massimo Dutti, Bershka, and more. 

After retiring from Inditex in 2011, he purchased the Torre Picasso skyscraper in Madrid and the Epic Residences and Hotel in Miami, Florida. 

In 2017, the Spanish Association of Foundations awarded him the Philanthropic Initiative Award after he donated €300 million to cancer foundations in Spain. 

That year, he also became the wealthiest man in the world, beating Bill Gates, who has since overtaken him once more. 

In 2020, Ortega’s investment company, Pontegadea, was worth $17 billion, though he reportedly lost $10 billion due to the pandemic.

As of 2016, he owned around 60% of Inditex, the holding company for Zara and related chains. 

Amancio Ortega Net Worth

As of May 2024, Amancio Ortega’s net worth is estimated to be roughly $98.3 Billion.

Amancio Ortega’s Net Worth Over Time

Highlights 

Here are some of the best highlights of Amancio Ortega’s career:

• Founded Confecciones Goa (1972)
• Zara became a part of the Inditex group (2009)
• Ortega owned 60% of Inditex (2016

Favorite Quotes From Amancio Ortega 

“The life experiences which have made me grown as a human being, an entrepreneur and a citizen are based upon a number of principles which I deem deeply valuable: Solidarity, Understanding, Commitment, Hard-work Reliability, and Faithfulness.” – Amancio Ortega 

“We cannot limit ourselves to continuing on the path we have already opened and once again we will have to be enthusiastic and exacting in order to convert ideas and projects into reality in a world that is advancing at great speed.” – Amancio Ortega

“My true and simple desire is that, through the strategies and activities of the Foundation, the results of my life experience, both personal and professional, may reach all those members of the society who might be in special need of backing and encouragement.” – Amancio Ortega 

“The successful combination of intense expansion and renewed business efficiency has only been possible through the immense effort of our team at all levels of the organization.” – Amancio Ortega 

3 Rules for Success from Amancio Ortega 

Now that you know all about Amancio Ortega’s net worth and how he achieved success, let’s take a look at some of the lessons we can learn from him:

1. Introverts can thrive as entrepreneurs

Most entrepreneurs are extroverts, but that is by no means necessary for success.

Many great entrepreneurs are introverts, and Amancio Ortega is one of them. 

Little is known about the retail conglomerate because he makes a lot of effort to avoid talking to the press. He once said:

“You must appear three times in the newspapers: when you are born, get married, and die.” 

Don’t be discouraged if you aren’t the life of the party because you can still run a profitable business.

2. Be humble and modest

Being successful in life doesn’t mean that you can’t still be humble and modest.

Having those traits can be highly beneficial for both your professional and personal lives.

Humility has been found to help us cope better with anxiety, become better leaders and workers, have more self-control, and be more willing to help others.

3. Good things come to those who wait

Even though ten years may seem like an eternity when establishing a business, it paid off.

Patience allows you to wait, watch, and know when to act in all aspects of your life. Instead of acting inappropriately or irrationally, with patience, you can step back, regroup, and make the best decision possible.

Frequently Asked Questions

How much is Amancio Ortega worth?

Amancio Ortega’s net worth is estimated to be $98.3 Billion.
 

How old is Amancio Ortega?

Amancio Ortega was born on March 28, 1936, and is currently 88 years old.
 

How tall is Amancio Ortega?

Amancio Ortega’s height is 1.73 m, equal to 5 ft 8 in.
 

Summary

Amancio Ortega is one of the wealthiest businessmen and fashion founders in Europe.

He is behind some of the most famous brands, such as Breshka, Zara, and Tempe. 

As of May 2024, Amancio Ortega’s net worth is estimated to be roughly $98.3 Billion, making him one of the richest entrepreneurs in the world. 

What do you think about Amancio Ortega’s net worth? Leave a comment below.