US Billionaire David Koch has been confirmed dead, he died aged 79 after a lost battle to cancer.
David Koch who was a major donor to the Republican party and had been suffering from cancer is dead.
He was the former majority owner of Koch Industries and ranked by Forbes below brother Charles as the 11th richest person in the world. Himself and his brother had a huge influence on the conservative movement and bankrolled causes pushing for small government and a free economy.
His brother Charles Koch confirmed the death of David Koch, he said that his brother was first diagnosed with prostate cancer 27 years ago and given only a few years to live.
“David liked to say that a combination of brilliant doctors, state-of-the-art medications and his own stubbornness kept the cancer at bay,” Charles Koch wrote, adding that in those years he married his wife Julia Flesher and had three children.
He also described David as having a “giant personality and passion for life” and noted his “institution changing philanthropic commitments to hospitals, cancer research, education and the arts”.
David and Charles Koch co-owned Koch Industries, a Nebraska-based energy and chemical company, since 1983. In 2018 Koch stepped down from Koch Industries – which refines crude oil, produces fertiliser, and manufactures household products – citing his declining health.
He had been a major donor to the arts, especially ballet, and donated to New York’s Lincoln Center and Memorial Sloan Kettering Cancer Center hospital.
According to Forbes, he is estimated to be worth $42.4bn (£34.7bn).