Billionaire David Koch Stepping Down From Political Empire

Charles Koch cites declining health as the reason
By Evann Gastaldo,  Newser Staff
Posted Jun 5, 2018 1:28 PM CDT
Billionaire David Koch Stepping Down From Political Empire
In this Aug. 30, 2013 file photo, Americans for Prosperity Foundation Chairman David Koch speaks in Orlando, Fla.   (AP Photo/Phelan M. Ebenhack, File)

Controversial conservative billionaire David Koch is leaving the board of the Americans for Prosperity Foundation, the political advocacy group he founded with his brother, Charles, which made the brothers "two of the most powerful men in American politics," as USA Today puts it. David Koch, 78, is also stepping down from his roles at the brothers' Koch Industries industrial conglomerate, where he served as executive vice president and board member as well as chairman and CEO of one of the company's subsidiaries. Koch officials said deteriorating health is behind his retirement, but gave no further details. Charles Koch, 82, will remain chairman and chief executive of Koch Industries, reports the Washington Post, which notes that the aging brothers have "groom[ed] a new generation of leaders" for their massive political network. (More David Koch stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.