Upon his death at the age of 79, as reported by the Inquisitr, the life of David Koch ended with a financial valuation that is unimaginable to the common man and places him amongst the richest people in all of the world. His total net worth of $42.4 billion, according to Forbes, leaves a legacy of an incredibly successful businessman as well as a political donor who wielded incredible influence in Washington D.C. and across the globe.
The key to Koch’s immense wealth was his role in the family business, Koch Industries, the second-largest privately held firm in the United States, according to Forbes. It is reported the company has an annual revenue of $110 billion and is involved in multiple diverse endeavors including refining crude oil and producing fertilizer as well as making Dixie cups and Quilted Northern toilet paper.
BREAKING: Billionaire David Koch is dead at 79. The Republican mega donor, along with his brother Charles, spent heavily to shape U.S. politics over decades. pic.twitter.com/gTURGe5pIW— Democracy Now! (@democracynow) August 23, 2019
Celeb Net Worth provided a breakdown of Koch’s wages, revealing that he brought in approximately $10 million per year and more that $800,000 per month. A break down of those numbers means the businessman was bringing in roughly $1,100 per hour and a whopping $19 per minute.
Koch held a share in Koch Equity Development, and had $2 billion worth of cash investments in 2015, according to Celebrity Net Worth.
On a personal level, Koch donated a portion of his wealth to charities that include the Lincoln Center, Sloan Kettering, and the David H. Koch Dinosaur Wing at the American Museum of Natural History, according to Celebrity Net Worth. The New York State Theater at Lincoln Center was renamed the David H. Koch Theater in 2008 after he donated 100 million dollars toward the theater’s renovation.
Koch and his brother David, also contributed to political causes, most of which were conservative and libertarian. In recent years, the Koch brothers organized a network of like-minded individuals that turned into something that resembled a privatized political party, Politico reported. It reportedly pledged to spend $889 that would rival the Republican National Committee.
While these contributions may have upset Democrats, Koch said in an interview with business website Crain’s New York that the family foundation gave more of their money to philanthropic endeavors.
“I am truly committed to making the world a better place,” he said, adding that he decided to donate more money to medical research after he was diagnosed with prostate cancer.
Koch was described as “one of the most generous but low-key philanthropists in America,” by Condé Nast Portfolio, per Celebrity Net Worth.