You may have heard about the Koch brothers here and there for their political lobbying efforts and their strong conservative views regarding social security, minimum wage, and taxes. But, who exactly is the Koch family and how did they even make their money.
Today, the richest Koch heirs are worth a combined $120 billion which makes them the richest private business owners in the world. It all started with Fred Koch back in 1900. Fred Koch was an intelligent engineer who figured a clever way for small oil refineries to produce oil products at competitive prices to industry giants.
At first, this got him a lot of negative attention from the big players and Fred had to grow his business internationally first. But eventually, Fred was able to bring his business back to America and grow Koch Industries into a thriving business. He left his business to his four children and it didn’t take long for them to start fighting about the future of the company.
This led to one of the biggest family feuds and fallouts in history which permanently split the family into two. Today, the two brothers that have retained control of the company include David and Charles Koch. Bill and Fred Jr. Koch no longer own parts of the family business, but they’re also doing quite well. This video explains the story of the Koch family and how the Koch family became the world’s richest private family business.
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