This archive report was first published on 23 August 2019.
David Koch, the American billionaire and former majority owner of Koch Industries, has died at the age of 79, according to family sources.
Published on August 23, 2019, Koch was ranked by Forbes as the 11th richest person in the world, below his brother Charles.
Born in Wichita, Kansas, Koch ran for president as a Libertarian in 1980, advocating for the abolition of several federal government agencies.
He and his brother Charles had a significant influence on the conservative movement, pushing for small government and a free economy.
However, the brothers fell out with President Donald Trump over his trade tariff policy.
In 2018, Koch stepped down from Koch Industries, citing his declining health.
Throughout his life, Koch was a major donor to the arts, particularly ballet, and supported institutions such as New York's Lincoln Center and Memorial Sloan Kettering Cancer Center hospital.
