David Koch, Billionaire Political Donor, Announces Retirement

David Koch, one half of the billionaire duo that built one of the nation's largest privately owned companies and one of its most controversial political networks, has announced his retirement from politics and business.

In a letter to Koch Industries employees written by his brother Charles Koch, the men announced that David was stepping down due to health concerns.

"We are deeply saddened by this, as we miss David's insightful questions and his many contributions to Koch Industries," Charles Koch wrote. "He was instrumental in building our Chemical Technology Group 1,000-fold from a single-product business."

David Koch was diagnosed with prostate cancer 25 years ago and was hospitalized in 2016. He has focused many of his philanthropic efforts on finding a cure for prostate cancer, including with contributions of nearly $600 million to medical research and institutions.

But Koch is perhaps better known for his work as an industrialist and his support for libertarian political causes. Koch Industries is the second largest privately held company in America, with revenue of $100 billion in 2017, according to Forbes.

The Kochs' funding of libertarian, conservative and Republican causes was viewed by Democrats with disdain during the Obama era. 

That political network shows no signs of slowing down. The Koch network has plans to spend up to $400 million on politics and policy initiatives during the 2018 midterm election cycle. And in a sign about its shifting strategy, it appears to be more willing to take on the Trump administration than many other political organizations on the right.

The Koch network has signaled its willingness to challenge the president on trade tariffs; has announced that it spend money to support a Democratic senator, Heidi Heitkamp of North Dakota, for backing a deregulation bill; and sent out mailers backing Democratswho stood with them on supporting a permanent fix for DREAMers, undocumented immigrants who entered the country as minors. - More, NPR

David Koch, Billionaire Political Donor, Announces Retirement

Billionaire David Koch to retire from Koch Industries, political group - 

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