
© Michael StewartDavid Koch
David Koch - one of America's wealthiest men, with a net worth of more than $40 billion, and a major political donor - passed away on Friday aged 79. RT looks at the Koch business empire.
Koch was the 11th richest person on the planet and, at the time of his death, had a net worth of $42.4 billion, according to Forbes. He had majority control of energy and chemical company Koch Industries, which he co-owned with his older brother Charles.
The duo built the second largest private US conglomerate in terms of revenue ($110 billion).A Kansas-based, now-multinational corporation, Koch Industries was co-founded by their father Fred Koch in 1940. The company initially had another name - Wood River Oil and Refining Company. It later acquired Rock Island Oil and Refining Company and was renamed Rock Island before finally becoming Koch Industries in 1959.
The conglomerate evolved from an oil and refining company to a sprawling conglomerate that covers different industries, from chemicals and plastics manufacturing to ranching, plant nutrients, and construction.
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