June 5, 2018
Energy billionaire and famed libertarian David Koch is retiring from Koch Industries and affiliated groups and activities because of his health.
According to a memo quoted by CNBC, Koch will become director emeritus at the Wichita, Kansas-based company.
In the memo to employees, older brother Charles Koch said his brother’s health has continued to deteriorate.
“His guidance and loyalty, especially in our most troubled times, has been unwavering,” the 82-year-old brother said
Koch was diagnosed with prostate cancer more than two decades ago.
Over the years, he and his family foundation, along with other recipients of Koch philanthropic support, have donated millions to cancer research.
He’s a board member of the Prostate Cancer Foundation.