Thursday, May 31, 2012

Top Philanthropic Donors: David H. Koch, New York, NY

David Hamilton Koch  born May 3, 1940 is an American businessman, philanthropist, political activist, and chemical engineer. He is a co-owner (with older brother Charles) and an executive vice president of Koch Industries, a conglomerate that is the second-largest privately held company in the U.S.  Koch is the second-richest resident of New York City as of 2010.

He is a major patron of the arts and had contributed to several charities, including Lincoln Center, Sloan Kettering, New York-Presbyterian Hospital and the American Museum of Natural History's David H. Koch Dinosaur Wing. The New York State Theater at Lincoln Center, home of the New York City Opera and New York City Ballet was renamed the David H. Koch Theater in 2008 following a gift of 100 million dollars for the renovation of the theater. Condé Nast Portfolio described him as "one of the most generous but low-key philanthropists in America". He and his brother Charles have also donated to political advocacy groups, including Americans for Prosperity.

Smithsonian Institution, National Museum of Natural History (Washington) has received a pledge of $35-million from David H. Koch to construct a new dinosaur exhibition hall. Mr. Koch is executive vice president of Koch Industries, an oil and gas refinery in Wichita, Kansas that was founded by his father, Fred C. Koch.

Since 2000, David H. Koch Charitable Foundation have pledged or contributed more than $750 million to further cancer research, enhance medical centers, support educational institutions, sustain arts and cultural institutions, and conduct public policy studies.  Since 2006, the Chronicle of Philanthropy has listed Koch as one of the world's top 50 philanthropists.

Koch was born in Wichita, Kansas, to Mary and Fred C. Koch, a chemical engineer. He is one of four siblings. He attended the Deerfield Academy prep school in Massachusetts, graduating in 1959. He went on to the Massachusetts Institute of Technology (MIT), earning both a bachelor's (1962) and a master's degree (1963) in chemical engineering. He is a member of the Beta Theta Pi Fraternity.

Koch played basketball at MIT, averaging 21 points per game at MIT over three years, a school record. He also held the single-game scoring record of 41 points from 1962 until 2009 when it was eclipsed by Jimmy Bartolotta.  The basics of his fortune are related to the oil industry.

In 1970, David joined Koch Industries. Nine years later, he would become the president of Koch Engineering.

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