5.David Koch

David Koch

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Net Worth

$31 B As of September 2012

At a Glance

• Age: 72
• Source of Wealth: Diversified
• Residence: New York, NY
• Country of Citizenship: United States
• Education: Bachelor of Arts / Science, Massachusetts Institute of Technology; Master of Science, Massachusetts Institute of Technology
• Marital Status: Married
• Children: 3

Forbes Lists

#4 Forbes 400

#12 Forbes Billionaires 

#5 in United States

#45 Powerful People

Profile:

New York City's richest resident David Koch is full of surprises: A New York delegate at the Republican National Convention told Politico that week that he believes in gay marriage and in raising taxes to pay down the federal debt. Earlier in the year, he and his brother Charles had sued the conservative Cato Institute, which they helped found in 1977, over issues of control; the parties later settled. Despite any drama, Koch Industries, the second largest privately held in the U.S. with interests in pipelines, refineries, fertilizer and consumer products like Brawny paper towel and Dixie cups, continues to generate rich cash flow and pay down debt. David, who is vice-chairman, is worth $6 billion more this year thanks to an increase in the company's value. A prostate cancer survivor, he says his biggest philanthropic contributions so far go toward a "moon shot" campaign to finding a cure for cancer, to which he's donated a quarter of a billion dollars.