One of 4 sons of Fred Koch, who invented method of refining gasoline from heavy oil. Expanded oil industry in U.S.S.R. 1930s; returned home before World War II. Founded Koch Industries, passed to... more »
One of 4 sons of Fred Koch, who invented method of refining gasoline from heavy oil. Expanded oil industry in U.S.S.R. 1930s; returned home before World War II. Founded Koch Industries, passed to sons after death in 1967. Bill attended MIT. With brother Frederick, sold stake to brothers Charles and David (see both) for $1.3 billion 1983. Later sued for more, case settled 2001. Used inheritance to create energy conglomerate Oxbow; produces calcined petroleum coke, coal, steel, natural gas. Sales: $3.7 billion. Art and wine collector sued auction house last year for selling him counterfeit vintage; paid $500,000 for four bottles alleged to have belonged to Thomas Jefferson. « less
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