David Hamilton – A SUCCESS STORY
David Hamilton Koch is the co-owner and the executive vice president of Koch Industries along with his brother Charles Koch. Besides being a philanthropist and an activist, Koch is a chemical engineer. At Koch, he owns 42% of the company.
He was born on May 3, 1940 in Wichita, Kansas, US. In 1959 he graduated from Deerfield Academy prep school in Massachusetts. Following his brother’s footsteps, he joined Massachusetts Institute of Technology from where he also graduated with a dual degree, a bachelor and a master in chemical engineering in 1963.
At MIT, Koch was an adept basketball player, his average being a record on campus with 21 points per game from 1962 and henceforth.After graduating from the college, unlike his brother, Koch didn’t opt for any other job. He joined his family business in 1970. After few years, he was appointed the President of the Koch engineering division.
Philanthropy gene was inherited in the Koch clan. David Koch along with his brother Charles Koch, is an active member of various charitable fraternities, political organizations, hospitals and educational institutes to support education, art and the needy. Koch’s contribution include charities like Sloan Kettering, which is a fertility clinic aiding sterile parents, American Museum of Natural History’s David H. Koch Dinosaur Wing and the Lincoln Center.His support, be in terms of financial aspects or being an active member, has been constantly admired by the communities that he had been associated with. The New York State Theater named a theater on Koch, considering his generous support of a hefty $100 million. Along with his brother, Koch has shared his wealth and effort for majority of the museums and art clubs.
From political groups like Americans for Prosperity to academic communities like Public Broadcasting Service and Smithsonian Institution in Washington, he donated millions of dollars for the upliftment of these institutions. Both the Koch brothers played an active part in the enhancement and extended their full cooperation. Koch even funded his alma mater Deerfield Academy, with $68 million for Center for mathematics, and a separate center for science and technology. As an honorarium, the Center was later named as Koch Center for Mathematics, Science and Technology.
He is a firm supporter of various government acts to commercialize the concept of liberty and free market principles. His firm stand on stem-cell research and gay marriages is one of his boldest moves. Koch strongly disapproved Dodd–Frank Wall Street Reform, Consumer Protection Act and Patient Protection and Affordable Care Act. His veto further extends to the Iraq war considering the loss of life and resources.
Although the company, because of the efforts of these two brothers, made a significant mark in the business market had its share of different speculations and accusations. It was investigated for Clean Water Act and Clean Air Act. Despite many accusations and criticism, the company was never made to refrain from making the sales and emerging as a leader in the current arena. Koch stands as the fourth richest American in the US. The Koch brothers are known as the ‘richest siblings’ on the globe.