Charles Koch is the co-owner, chairman and chief executive officer of Koch Industries, one of the largest closely held companies in the world. The Wichita, Kansas-based firm operates in various industries including oil refining, pipelines, commodities trading, ranching and paper pulp, and has annual sales of $110 billion. He owns 42 percent of the company.
Koch Industries Inc. and its employees and subsidiaries spent $1.2 million in the last election helping to elect Republican governors who are now trying to take away bargaining rights of state workers.
Dan Maffei, a New York congressional candidate and former member of the U.S. House, said he is giving $3,500 in political donations from Koch Industries Inc. to charity because the company profited from business in Iran.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
T. Boone Pickens, who’s been saying for more than a year that Congress was poised to pass his plan to subsidize natural-gas vehicles, may not have been expecting opposition led by fellow billionaire Charles Koch.