David Koch is the co-owner and executive vice president 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 and paper pulp, and has annual sales of $110 billion. Koch owns 42 percent of the company.
In May 2008, a unit of Koch Industries Inc., one of the world’s largest privately held companies, sent Ludmila Egorova-Farines, its newly hired compliance officer and ethics manager, to investigate the management of a subsidiary in Arles in southern France. In less than a week, she discovered that the company had paid bribes to win contracts.
The world’s 300 wealthiest people added $15.6 billion to their collective net worth this week as the Standard & Poor’s 500 Index and Dow Jones Industrial Average closed at record highs amid optimism that the economic recovery will accelerate.
Koch Industries Inc., the holding company controlled by billionaire brothers Charles and David Koch, agreed to buy PetroLogistics LP for about $2.1 billion including debt to gain raw materials used to make plastics.