Conservative Icon David Koch Retiring From Business, Politics

His brother, Charles Koch, announced in a letter to employees of Koch Industries on Tuesday that David Koch's health has been in decline since he was hospitalized last summer.

The groups said they would advocate that Trump reduce or eliminate trade barriers by modernizing the North American Free Trade Agreement (NAFTA) and returning to the negotiating table on the Trans Pacific Partnership (TPP).

Through the allied Libre Initiative and Freedom Partners, it recently launched a campaign aimed at pushing congressional leaders to protect "dreamers" - people brought into the country illegally as children.

He and his foundation have been in the forefront of spearheading research and treatment of prostate cancer and he is a board member of the Prostate Cancer Foundation.

Charles Koch, who will stay on as chairman and chief executive of Koch Industries, said his brother was "instrumental" in expanding the business they inherited from their father "1,000 fold" and branching out beyond energy into a host of other products.

Through a constellation of aligned groups, the network still plans to spend between $300 million and $400 million on politics and policy during the 2018 election cycle. When Donald Trump called for a Muslim registry during his 2016 campaign, Charles spoke out against it.

David and Charles Koch are widely known for their financial support of conservative causes that favor businesses and stricter environmental regulation, according to the New York Times.

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David ran as a Libertarian candidate for president in 1980, and together the Koch brothers made large contributions to the Republican Party in 2010, facilitating the party's rise in the House of Representatives in that year's elections.

Koch, who now lives in NY with his family, will continue to serve on some boards of organizations to which he has philanthropic ties.

That's not to say Koch Industries is a golden boy for the social movement, while they have donated millions to the American Civil Liberties Union, the brothers have also spent money to deny climate change and they regularly attack unions and worker rights.

Although David Koch's involvement had been reduced in recent years, he still held several top positions within the Koch network, including as chairman of a foundation that supports Americans for Prosperity. His ticket, with Ed Clark, received just 1 percent of the popular vote.

The firm, with annual revenue of $100 billion, operates pipelines and produces fertiliser but also manufactures consumer goods.

David Koch, along with his brother Charles, owns the second largest private USA company, whose operations range from refining and chemicals to ranching and forest products. David, who has an estimated net worth of $52 billion, will take on the title of director emeritus after his retirement.

(Copyright © 2015. All Rights Reserved.)
 
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