• Fri. May 27th, 2022

David Koch Net Worth 2022 | Salary | Properties | Biography

Byadmin

May 9, 2022

How much money did David Koch have?

David Koch was a billionaire American businessman who died in 2019 with a net worth of $58 billion dollars. He made his fortune as a co-owner of Koch Industries, where he and his older brother Charles Koch were major shareholders.

David Koch was born in Wichita, Kansas, on May 3, 1940. He was one of the company’s executive vice presidents for many years. Koch Industries began as a company focused solely on oil refining and chemicals, but has since expanded to include pollution control equipment and technologies, polymers and fibres, minerals, fertilisers, commodity trading and services, forest and consumer products, and ranching. Stainmaster carpet, Lycra spandex fibre, Quilted Northern tissue, and Dixie Cup are just a few of the well-known brands it produces. Koch Industries, after Cargill, is the second-largest privately held company in the United States by revenue.

 

In 1996, David married Julia Flesher. They had three children as a couple.

 

David Koch, 79, passed away on August 23, 2019. David Koch’s $58 billion net worth tied him with his brother for eighth place on the list of the world’s wealthiest people at the time of his death.

 

Throughout his life, David Koch donated hundreds of millions of dollars to organisations such as Lincoln Center, Sloan Kettering, a fertility clinic at New York-Presbyterian Hospital, and the David H. Koch Dinosaur Wing at the American Museum of Natural History. In 2008, the New York State Theater at Lincoln Center, which houses the New York City Ballet, was renamed the David H. Koch Theater, thanks to a $100 million gift for renovations. David Koch was once described by Condé Nast Portfolio as “one of the most generous but low-key philanthropists in America.” David and his brother Charles have also been linked to political advocacy groups such as Americans for Prosperity and Republican political campaigns. David Koch was a survivor of the 1991 crash of US Air Flight 1493.

 

David Koch’s net worth

David Koch owned 42 percent of Koch Industries, the second largest privately held company in the United States, with annual revenue of up to $100 billion at the time of his death. Georgia-Pacific, Invista, Flint Hills Resources, Koch Fertilizer, Koch Pipelines, Molex, and other companies are among his investments. He also had at least $2 billion in cash investments and a stake in his family’s private equity fund Koch Equity Development.

 

Property Management

David paid $4 million for two Aspen mansions side by side in two transactions, the first in 1989 and the second in 1991. Charles, David’s brother, owns the house directly across the street. This property is now worth at least $20 million as a whole.

 

David paid $7.5 million for a seven-bedroom mansion on Meadow Lane in Southampton, New York, four years before marrying Julia. This property is probably worth $40-50 million today.

 

In Palm Beach, Florida, David and Julia paid $10.5 million for Villa el Sarmiento, a 1920s-era mansion. This property is now estimated to be worth more than $70 million.

 

Julia and David bought an 18-room duplex co-op apartment at 740 Park Avenue for $17 million in 2004. The Japanese government, which had been using it as a residence for their UN representative, was the seller at the time. The unit was previously owned by John D. Rockefeller, Jr. Julia reportedly began quietly marketing the unit in February 2022 for a minimum asking price of $60 million. The entire building at 740 Park Avenue has only 30 units. It has been dubbed “the richest building in the world.”

 

Julia and David paid $40.25 million for a New York City townhouse in August 2018.

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