From Bloomberg:
David Koch, the industrialist and libertarian who used his fortune to transform American politics while also donating more than $1 billion to philanthropic causes, has died. He was 79.
The death was confirmed by Koch’s spokeswoman Cristyne Nicholas.
Koch, whose net worth of about $59 billion in the Bloomberg Billionaires Index tied him with his brother as the world’s seventh-richest person, derived most of his wealth from a 42% stake in Wichita, Kansas-based Koch Industries, which has annual revenue of about $110 billion. It is one of the nation’s largest closely held companies, and its spectacular growth included the 2005 acquisition of Georgia Pacific for $21 billion.
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