Published: Fri, August 23, 2019
Global News | By Blake Casey

Billionaire conservative donor David Koch dies at 79

Billionaire conservative donor David Koch dies at 79

Billionaire conservative donor and industrialist David Koch has died, his brother Charles said Friday.

The former majority owner of Koch Industries was ranked by Forbes below brother Charles as the 11th richest person in the world.

Koch's death was officially announced by his older brother, Charles Koch. The person wasn't authorised to discuss the death and spoke on the condition of anonymity.

Charles Koch released a statement on his brother's passing, saying he will be "greatly missed, but never forgotten". "Anyone who worked with David surely experienced his giant personality and passion for life", Charles Koch said. "We can all be grateful that it did, because he was able to touch so many more lives as a result".

David guided the chemical equipment side of his company from his home in NY while Charles remained in Wichita.

Koch ran unsuccessfully for USA vice president in 1980 - running to the right of conservative hero Ronald Reagan - on a long-shot Libertarian Party ticket that called for abolishing income taxes, minimum wage laws, government regulatory agencies, the Social Security retirement program, the Federal Bureau of Investigation and the CIA.

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The brothers funded groups like Americans for Prosperity that spread their libertarian vision of conservatism advocating lower taxes and fewer regulations on businesses, and donated heavily to Republican candidates.

Details about the time, place and the circumstances surrounding the 79-year-old's death are now unclear.

David Koch, an engineer trained at MIT, joined Koch Industries in 1970, and served on its board.

In addition to his wife, he is survived by three children.

He was well known for his charity donations, giving to New York's Lincoln Centre and Memorial-Sloan Kettering Cancer Center.

David Koch was also known for his philanthropy, with the brothers donating over $1 billion throughout the years to causes including medical research, higher education, and public television, among other initiatives.

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