Privacy Policy

Privacy Policy

The company was founded by its namesake, Fred C. Koch, in 1940 after he developed an innovative crude oil refining process.[10] Fred C. Koch died in 1967 and his majority interest in the company was split amongst his four sons. In June 1983, after a bitter legal and boardroom battle over the amount of dividends paid by the company, the stakes of Frederick R. Koch and William "Bill" Koch were bought out for $1.1 billion and Charles Koch and David Koch became majority owners in the company.[11] Charles owns 42% of the company; trusts for the benefit of Elaine Tettemer Marshall (the daughter in-law of J. Howard Marshall) and Elaine's children, Preston Marshall and E. Pierce Marshall Jr., own 16% of the company.[7][12] David Koch died on August 23, 2019, and his heirs own the remaining 42% balance of the corporation.

Charles Koch has stated that the company would go public "over my dead body" and that the company has used its freedom from the pressures of public markets to make long-term investments and concentrate on growth.[13][14]