11th richest man worldwide dies
David H. Koch, who joined his brother, Charles G. Koch, in business and political ventures that grew into the nation’s second-largest private company and a powerful right-wing libertarian movement that helped reshape American politics, has died. He was 79.
Charles Koch announced the death in a statement, which gave no cause but noted that David Koch had suffered from prostate cancer in the past.
Hitching his star to the soaring ambitions of his older brother, David Koch (pronounced coke) became one of the world’s richest people, with assets of $42.2 billion in 2019 and a 42 percent stake in the global family enterprise, Koch Industries. He also became a nationally known philanthropist and the early public face of the Koch political ascendancy, as the Libertarian Party’s candidate for vice president in 1980.
Three decades after David Koch’s public steps into politics, analysts say, the Koch brothers’ money-fueled brand of libertarianism helped give rise to the Tea Party movement, strengthened the far-right wing of a resurgent Republican Party and played a significant role in the election of Donald J. Trump as president in 2016.