Billionaire and prominent Republican party donor David Koch is dead at 79
- David Koch, one of the most prominent Republican party donors, has died at 79
- The details surrounding his death, including the date, time and cause are unclear
- He and his brother Charles built their fortune around Koch Industries, which makes Dixie cups and Quilted Northern toilet paper
- At the time of his death his net worth was an estimated $42.4billion, making him the 11th richest person in the world
Billionaire businessman David Koch, one of the richest men in the word and a prominent Republican party donor has died.
‘Sources close to the family say David Koch has died,’ New Yorker reporter Jane Mayer tweeted on Friday morning.
Details about the time and place and the circumstances surrounding the 79-year-old’s death are currently unclear.
He and his older brother Charles have been among the biggest donors to the GOP since the 1980s.
The brothers built their fortune from the company Koch Industries, which refines crude oil and is the maker of Dixie cups and Quilted Northern toilet paper, reported BNO News.
Billionaire businessman David Koch of the infamous Koch brothers has died at age 79. Pictured: Koch, right, with older brother Charles, left, on Morning Joe in November 2015
In June 2018, Koch stepped down from the company, saying his health was taking a toll on him.
He was diagnosed with prostate cancer more than 20 years ago, but it’s unclear if it contributed to his death.
According to Forbes magazine, his net worth was $42.4billion at the time of his death ranking him the 11th richest person in the world.
In addition to being a political donor, he was also a philanthropist.
He gave $100 million to the New York State Theater at Lincoln Center – subsequenty renamed the David H Koch Theater – and $65 million to renovate the plaza at the Metropolitan Museum of Art, reported BNO News.
Details surrounding Koch’s death including the time, place and cause are unclear. He is survived by his wife, Julia, and their three children. Pictured: Koch at the 13th Annual Prostate in Water Mill, New York, August 2017, left, and with his wife Julia at the Winter Ball at David H Koch Theatre in New York City, March 2017, right
Members of the Koch family, including his brother, have not yet commented on his death.
He is survived by his wife, Julia, and their three children.
This story is breaking and we will be updating with more information as developments come in.