The Koch brothers have come under fire recently from Occupy Wall Street protesters for supporting conservative policies and movements like the Tea Party. But how much money do they both have? David and Charles Koch each have a net worth of $58 billion, making them tied for eighth as the richest people in the country and easily some of the richest people in the world.
Update: David Koch died on August 23, 2019, at the age of 79.
Charles Koch Net Worth – $58 billion
David Koch Net Worth – $58 billion
The brothers' vast wealth comes from their ownership of Koch Industries, which is the largest privately held corporation in the U.S. The business was founded by their father, Fred, who invented an innovative system for refining crude oil into usable gasoline that is still in practice today. In a given year, Koch Industries generates around $100 billion in revenue. The company produces over 1 million barrels of oil per day and has expanded into many industries, including finance, chemicals, plastics, fertilizers, and paper products.
The main complaint that Occupy Wall Street has against the Koch (pronounced "Coke") brothers is that they are funding far-right political movements in the United States. A very large crowd of protesters gathered outside a recent Washington D.C. gathering of a group called Americans for Prosperity Foundation. The foundation was founded by David. The brothers are believed to be backing the radical right "Tea Party" movement in the U.S.
What do you think? Should the Koch brothers be allowed to fund whatever political movement they choose, or are the Occupy Wall Street protesters right to be angry? Let us know your thoughts in the comments below…
Key Takeaways
- David and Charles Koch each have a net worth of $58 billion.
- Koch Industries is the largest privately held corporation in the U.S.
- The brothers are known for their support of conservative political movements.
- Occupy Wall Street protests have targeted the Koch brothers for their political funding.
