David Koch to retire from Koch Industries due to poor health - memo

Free Trade Puts GOP Megadonors On Collision Course With Trump

David Koch, one of the two billionaire brothers at the helm of the powerful conservative political network in the United States, is retiring from his family's conglomerate, Koch Industries, and stepping down as chairman of the Americans for Prosperity Foundation.

The move was announced by his brother, Charles Koch, in a letter to employees, stating that David's health has been declining since he was hospitalized last October.

Along with stepping down from Koch Industries, Koch is also rolling back his responsibilities at the Seminar Network. Charles Koch said David Koch will now hold the title of "Director Emeritus".

David and Charles Koch are widely known for their financial support of conservative causes that favor businesses and stricter environmental regulation, according to the New York Times.

An infusion of money into media, grassroots mobilization, lobbying and policy analysis into the domestic debate on free trade could embolden Republican candidates in the November congressional elections to part ways with the president on the issue.

Charles Koch had assumed a more visible leadership role in the brothers' affairs in recent years. The Koch network has plans to spend up to $400 million on politics and policy initiatives during the 2018 midterm election cycle.




The political network backed by the Koch brothers is launching a multi-year, multimillion-dollar campaign to oppose U.S. President Donald Trump's push to slap billions of dollars in tariffs on imports from around the world. "David has always been a fighter and is dealing with this challenge in the same way". We greatly appreciate his vital role on the board & all that he has done to help build a strong foundation for our future success. He has also given $185 million in total donations to the Massachusetts Institute of Technology, his alma mater.

Over the years, David Koch has donated millions of dollars to a variety of organizations and causes both political and non-political.

David Koch, who now lives in NY, was raised in Wichita, Kansas. He gave $128 million to New York-Presbyterian Hospital, $26.5 million to the University of Texas MD Anderson Cancer Center, $26.2 million to the Hospital for Special Surgery in New York, $20 million to Johns Hopkins University, $10 million to Mount Sinai Medical Center and $10 million to the children's hospital at Stanford University for allergy research.

"Due to health reasons, David Koch will be resigning from the board of the AFP Foundation".

David Koch, along with his brother Charles, owns the second largest private USA company, whose operations range from refining and chemicals to ranching and forest products.

At Koch Industries, David has served as executive vice president and board member at the company that has a current value of $100 billion.

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