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Charles Koch Net Worth

Emmy Wallin

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Charles Koch's Net Worth

Net Worth:$50.4 Billion
Age:83
Born:November 1, 1935
Country of Origin:United States of America
Source of Wealth:Entrepreneur
Last Updated:2019

Introduction 

Charles Koch is an American philanthropist and businessman who is the co-owner and CEO of Koch Industries. His younger brother David inherited the business from their father, Fred Koch, who had founded the company in 1940.

Koch is one of the richest businessmen in the world, and both of him and his brother David Koch, each own 42% of the conglomerate.

As of 2019, Charles Koch’s net worth is estimated to be roughly $50.4 billion dollars. 

 

Early Life

Charles Koch was born on the 1st of November, in Wichita, Kansas. Koch is the on to Mary and Fred Chase Koch. His father Fred, was an engineer who later turned to be an industrialist who later founded what was to become Koch Industries. Koch has three brothers: Frederick, David, and William. 

Koch attended the Massachusetts Institute of Technology (MIT) to study engineering. He earned his Bachelor of Science in general engineering in 1957, and a Master of Science (M.S. in mechanical engineering in 1958. 

 

Career 

After Koch’s graduation, he joined Arthur D. Little, Inc. This career lasted for a very short while as he moved back to Wichita in 1961 in order to join his father’s business, Rock Island Oil & Refining Company.

Koch was a hard-working man, determined to expand the family business which had become a medium sized oil firm by the late 1960s. 

Koch worked tirelessly to grow the business which is today involved in diverse fields such as energy, fiber, chemicals, polymers, pulp, paper and minerals, and more.

A highly competitive businessman, he worked tirelessly to grow the business which is today involved in diverse fields such as the manufacturing, refining, and distribution of petroleum, chemicals, energy, fiber, intermediates and polymers, minerals, fertilizers, pulp, and paper.

He became the Director of Koch Industries in 1982 and also serves, or has served, as the Director of other corporations such as Entrust Financial Corp. and Georgia-Pacific LLC. 

Today, Koch Industries, have invested more than $70 billion in acquisitions and other capital expenditures and own Invista, Georgia-Pacific, Molex, Flint Hills Resources, Koch Pipeline, Koch Fertilizer, Koch Minerals, and Matador Cattle Company.

Charles Koch credits his phenomenal success to the business philosophy of Market Based Management (MBM), a concept which he developed. 

Koch supports a number of free market-oriented educational organizations, such as Cato Institute, the Institute for Humane Studies, Bill of Rights Institute, and the Mercatus Center at George Mason University. 

As of 2019, Charles Koch’s net worth is roughly $50.4 billion dollars. 

 

Highlights 

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

  • Koch Industries (1967) 
  • Ranked as the 9th richest person in the world (Hurun Report, 2014) 
  • The Science of Success (Business Philosophy, 2007) 
  • Good Profit (Business philosophy, 2015) 

 

Favorite Quotes from Charles Koch 

“Successful companies create value by providing products or services their customers value more highly than available alternatives. They do this while consuming fewer resources, leaving more resources available to satisfy other needs in society. Value creation involves making people’s lives better. It is contributing to prosperity in society.” – Charles Koch 

“To be happy you have to fulfill your nature. That’s what Aristotle taught so many centuries ago, that the road to happiness isn’t to go drink more or consume more. The road to happiness is to fully develop your abilities, and then apply them to do good.” – Charles Koch 

“Best part of my job is fulfillment. When I see that, that we’re creating value, that we’re helping improve people’s lives, and we benefit from it, so it’s a system of mutual benefit. Our philosophy’s working. That’s what turns me on. That’s what keeps me going.” – Charles Koch 

“A classical liberal is someone who wants a society that maximizes peace, civility, tolerance, and well-being for everyone. One that opens opportunities for everyone to advance themselves.” – Charles Koch 

“Repeatedly asking for government help undermines the foundations of society by destroying initiative and responsibility. It is also a fatal blow to efficiency and corrupts the political process.” – Charles Koch 

 

3 Powerful Lessons from Charles Koch 

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

 

1. Keep Your Head Down and Work

By choice, Koch Industries opted to stay out of the limelight for much of its existence. It did this mainly because it was ingrained in the brothers from a young age, by their father, that humility was a virtue; and that seeking attention, or bringing it upon oneself, would lead to distractions away from a business, unnecessary scrutiny and personal attacks.

 

2. Don’t Mix Business with Politics

The Kochs are now known as controversial, billionaire political activists. But it wasn’t always this way. Charles Koch, a brilliant businessman, made a critical mistake of throwing his company in the middle of his personal political agenda. 

 

3. Establish a Trusted Brand Then Broadly Diversify

Koch Industries originally started as a crude oil refining company (in the 1940s). After establishing its brand as a trusted business within that industry, the company grew into a globally diversified corporation.

Now working in cattle, fertilizer, pulp and paper, minerals and many other industries, Koch used its early success in the oil business to springboard into other lucrative sectors.

 

Summary 

Charles Koch has been the co-owner, chairman, and chief executive officer of Koch Industries since 1967, while his brother David Koch serves as executive vice president. Both of the brothers are considered to be two of the richest persons in the world

As of 2019, Charles Koch’s net worth is estimated to be roughly $50.4 billion dollars.

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

Emmy Wallin is a writer for Wealthy Gorilla. She is a young Swedish girl from Uppsala, who is currently traveling around the world. Emmy has a big passion for helping others and motivating people.

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