Success Story of Charles H. Koch

Courtesy: Forbes.Com

Charles Koch, the chairman of the board and chief executive officer of Koch Industries, Inc, was born in Wichita, Kansas in November 1, 1935. He is the son of an American chemical engineer and founder the oil refinery firm (now Koch Industries), Fred C. In 1957, he completed his bachelor’s degree in general engineering, and double master’s degree in mechanical engineering and in chemical engineering in the following years of 1958 and1960 from Massachusetts Institute of Technology. After completing his education he joined Arthur D Little Inc for 3 years.
In 1967, Charles Koch took the responsibility of his father’s oil company, Rock Island Oil and Refining. Within 30 years he turned it a very successful company with estimated $40 billion in annual revenues.
According to Forbes Magazine 2011, he is the world’s 18th richest with net worth of $25 billion.

Koch is known as a libertarian and the supporter of free-market policy and is the member of CATO institute, a Washington D.C based organization that promotes civil rights and personal freedom.

Philanthropic work:

In 1980, he established The Charles G. Koch Charitable Foundation that supports research in the fields of education and social wellbeing of mankind.
Through the Institute for Humane Studies, he funds Charles G. Koch Summer Fellow Program

Awards and Recognitions:
Koch is widely famous for his “Market-Based Management” style of leadership and he has described this concept in his book Science of Success published in 2007.
In 1994, he received Adam Smith Award by American Legislative Exchange Council
In 1995, he was awarded with Distinguished Citizen Award by Boy Scouts of America
In 1996, he became a member of the Kansas Oil and Gas Hall of Fame. In Year 2000, the Tax Foundation honored him with National Distinguished Service Award
In the year 2011, Koch received William E. Simon Prize for his Philanthropic Leadership and work
“Our hearts and prayers go out to all of these people as they begin the hard work of rebuilding their lives.” Charles Koch