Business and economy
David Hamilton Koch is an American businessman, philanthropist, political activist, and chemical engineer. He joined the family business Koch Industries, the second-largest privately held company in the United States, in 1970. He became president of the subsidiary Koch Engineering in 1979, and became a co-owner of Koch Industries, with older brother Charles, in 1983, and served as an executive vice president until his retirement in 2018. Upon retirement in June 2018 due to health issues, Koch received the title of Director Emeritus. Koch is an influential libertarian. He was the 1980 candidate for Vice President of the United States from the United States Libertarian Party and helped finance the campaign. He founded Citizens for a Sound Economy. He and his brother Charles have donated to political advocacy groups and to political campaigns, almost entirely Republican. As of June 2018, he was ranked as the 12th-richest person in the world,, with a fortune of $50.7 billion.