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Conservative icon David Koch leaving business, politics

08 June 2018, 03:50 | Devin Moran

Billionaire Industrialist David Koch Retires From Business and Politics

Free Trade Puts GOP Megadonors On Collision Course With Trump

Billionaire conservative icon David Koch is stepping down from the Koch brothers' network of business and political activities. "Sadly these points haven't been resolved and his well being has continued to deteriorate", the letter mentioned.

The tariff decision elicited outcries from allies overseas and domestic business groups - but arguably none more influential among conservatives than the Koch network. David Koch, in reality, was the vice presidential nominee for the Libertarian Occasion in 1980. They performed a pivotal function within the 2010 elections that put Republicans again into energy within the Home of Representatives.

Businessman, billionaire, and bogeyman to liberals David Koch will be retiring from both his business and his political activism, an internal memo sent to employees today explained.

The Manhattan resident donated $150 million to New York City's Memorial Sloan Kettering Cancer Center in 2015, the largest gift in the organization's history.

Republican lawmakers, already grumbling about some of Trump's trade initiatives, outright condemned the Commerce Department announcement last week on impending tariffs on steel imports and aluminum to be imposed on the European Union, Canada and Mexico.




Using the money they made from their Kansas-based family business empire, the Koch brothers have created what is likely the nation's most powerful political organization with short- and long-term goals. "Due to health reasons, David Koch will be resigning from the board of Americans for Prosperity Foundation", Mark Holden, who co-chairs the Seminar Network, said in a statement. He said David Koch would be named a director emeritus of the company.

David Koch was diagnosed with prostate cancer 25 years ago, and he has given vast sums toward cancer research since then. He has focused many of his philanthropic efforts on finding a cure for prostate cancer, including with contributions of almost $600 million to medical research and institutions.

Charles and David Koch's company has interests ranging from pipelines to paper towels.

David Koch, along with his brother Charles, owns the second largest private US company, whose operations range from refining and chemicals to ranching and forest products.

In 2016, Freedom Partners, a political operation run by the brothers, budgeted $889 million for its political activities in the 2016 election, including field operations, new technology, policy work, advertising, data gathering and grass-roots activities. Their checkbooks - and their abilities to recruit likeminded patrons - have largely helped conservatives, although this week they announced they were stepping up their game against President Donald Trump over his efforts to drag the United States into a trade war.



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