David Koch leaves the company, political groups



WASHINGTON-Multimillionaire businessman

David Koch,

who, along with his brother, used his fortune to help reform republican politics, announced on Tuesday that he will retire from his family business and from all political organizations.

A letter to Koch Industries employees of its president and chief executive officer

Charles Koch

attributes the decision of David Koch to the deterioration of health. The letter cites an undisclosed health problem that put him in the hospital in the summer of 2016.

"We are deeply saddened by this, as we miss David's insightful questions and his many contributions to Koch Industries", says the letter, according to a copy reviewed by The Wall Street Journal.

David Koch, 78, has long served as vice president of Koch Industries and has been active in Republican politics, conservative organizations and philanthropic groups. At the center of the political influence of the Koch brothers is their network of wealthy Republican donors, typically libertarians or conservatives.

The peer network grew from 12 people at its first conference in 2003 to more than 550 at a retreat earlier this year, near Palm Springs, California. Each attendee donates at least $ 100,000 per year, money used to finance scholarships, investments of newly created companies, institutions and political and political groups.

Most political and political operations are carried out through American Partners of prosperity and freedom.

James Davis,

spokesperson for Freedom Partners, said in January that such groups plan to spend as much as $ 400 million in 2017 and 2018.

"David has contributed greatly to Koch Industries and improve the lives of people in this country," he said.

Steve Lombardo,

communications director of Koch Industries. "But his participation in the political activities of the seminar network has been increasingly limited in the last two years, before the decline in health, it was time to resign"

Write it down Julie Bykowicz at [email protected]

.


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