Chase Koch
Charles Chase Koch (/koʊk/ KOHK; born June 15, 1977), is an American businessman and the son of Charles Koch, the co-owner, CEO, and chairman of Koch Industries. Koch directs the venture capital company Koch Disruptive Technologies,[2] and is a leading figure in Koch Industries and the family's philanthropic activities.[3]
Chase Koch | |
|---|---|
| Born | June 15, 1977 Wichita, Kansas, US |
| Alma mater | Texas A&M University |
| Occupation | Businessman |
| Title | President of Koch Fertilizer |
| Children | 3 |
| Parent |
|
| Relatives | Elizabeth Koch (sister)[1] |
Early life and education
Koch, who is named after his grandfather and father,[4] was born on June 15, 1977[5] and raised in Wichita, Kansas, by his parents, Charles and Liz.[6] Every Sunday, Charles Koch would educate Chase and his sister Elizabeth about his value system, libertarian economics, and philosophy.[6] According to a 2018 profile in Politico, Chase's interest in education is rooted in that childhood tutoring, which involved listening to recordings of F.A. Hayek and Milton Friedman and discussing “values like courage and equal rights.”[7][8]
Chase played basketball at the local YMCA and attended Wichita Collegiate School.[7] In his teens, he worked on his family's ranches.[4] His first job, at age 15, was at Koch's feed yard in Syracuse, Kansas, where he spent the summer digging post holes and shoveling bovine ordure.[9] He later said that although "I hated Koch Industries at the time," the experience taught him "a critical life lesson about the importance of hard work."[6]
In September 1993, at age 16, Koch ran a red light, hitting twelve-year-old Zachary Seibert with his car. Zachary died shortly at a local hospital. Chase pled guilty to a charge of misdemeanor vehicular homicide and was sentenced to 100 hours of community service and 18 months of probation.[10][11][12]
Koch graduated from Texas A&M University with a B.S. in marketing.[3][7] Koch has spoken of his upbringing in a variety of public speeches.[6]
After graduating, he played in a band that covered songs by Led Zeppelin, Phish, and the Grateful Dead while trying to navigate his way into Austin's tech startup scene without exploiting his family connections.[8] He told an audience in 2015 that he had seriously considered not pursuing a career in the family business.[6]
Business career
At age 25 or 26,[6] Koch returned to Wichita, where he began to work for Koch Industries. During the next few years, he worked in a series of high-level positions at the company, designed to provide him with an MBA-like experience.[13]
In 2006, Koch began working for Koch Nitrogen Company, serving as a regional manager and in global supply. He was appointed president of Koch Fertilizer in 2013 and later named executive vice president of Koch Agronomic Services.[14][15][16][17][18] As of 2016, he was president of Koch Agronomic Services.[9]
In 2018, he became president of the newly founded Koch Disruptive Technologies,[19][20][21] Koch Industries' venture-capital arm. Under his management, according to Bloomberg News, KDT has invested in sectors outside of Koch's traditional areas of expertise; among the firms in which he has invested is InSightec Ltd., which manufactures surgical tools that employ ultrasound.[8] In a January 2019 interview on CNBC, he discussed KDT's interest in investing in "principled entrepreneurs" and in seeking out technologies that can transform methods of production.[9]
Throughout his career at Koch, he has chosen to work in Wichita and not at the firm's Washington-area headquarters.[7]
Philanthropy
Since working at the family firm, Koch has become increasingly involved in his father's and uncle's political activities.[22] He was present in 2003 when his father held a get-together at Chicago's Peninsula Hotel that marked the beginnings of what would later be known as the Koch network.[7]
Koch has organized a philanthropic network, consisting of the adult children of Koch network members, to replace their aging parents and grandparents.[23] When working with this network, reported Politico in 2018, Koch aims at nonpartisanship and avoids "the hard-charging political gamesmanship" often identified with the Kochs. Koch told Politico that, rather than becoming involved in political conflict, he preferred to find things that he and his philanthropic collaborators can agree on. His aim, he said, is "to be a bridge-builder and an innovator focused on civil society." In 2015, for example, he was involved in an antipoverty initiative that instructed nonprofits in the principles that helped Koch Industries to thrive. He has expressed concern about urban violence and police shootings and has lent his support to a nonprofit called Urban Specialists.[3]
In May 2018, in Vail, Colorado, Koch led a weekend retreat attended by about two dozen affluent young professionals. Its purpose was to discuss the network's future direction and help solve problems through nonprofits and advocacy work.[3] Koch spoke briefly about the importance of authenticity, emphasizing the significance of the role that "personal transformation" can play in making an impact on society. His goal, he explained, is to bring people together to address major social problems and to try to help disadvantaged individuals to surmount obstacles and achieve success. The idea that the Kochs might de-emphasize politics, commented Politico, was "almost unimaginable" to Washington insiders.[7]
In January 2019, he told an interviewer that his public activities were guided by the aims of improving as many lives as possible and unlocking people's potential. He added that he eschewed partisanship and believed in forming coalitions across the political spectrum. He noted that he was working with people like Van Jones on issues like prison reform.[9]
Board memberships
Since 2013 he has been a member of the board of Koch Industries. He is also on the board of the Charles Koch Foundation and chairman of New Leaders.[citation needed]
Personal life
In 2010, Koch married Annie Breitenbach, a former neonatal nurse.[7] They live on a 70-acre property in Wichita that Koch purchased for $3 million in 2010[24][7] and have three children.[7] Their oldest son, Charles, was born in 2012.[25] With Zach Lahn, a former Koch network fundraiser, Breitenbach opened Wonder, a private Montessori-style preschool and grade school on the campus of Wichita State University.[7][25]
References
- ^ . New Netherland Project. Archived from the original on 2010-12-13. Retrieved 2016-03-23.
- ^ "The Machine David Koch Helped to Build 'Will Endure' After His Death". Bloomberg.com. 2019-08-23. from the original on 2019-08-24. Retrieved 2020-11-21.
- ^ a b c d Tenbarge, Kat (Aug 23, 2019). "David Koch's reclusive nephew is next in line to inherit the family legacy, and he may be planning a shift away from conservative politics". Business Insider.
- ^ a b "Charles Koch relentless in pursuing his goals". Wichita Eagle. 14 October 2012. Retrieved 24 August 2019.
- ^ "Charles Chase Koch". FreePublicProfile.
- ^ a b c d e f Dan Vooris (8 November 2016). "What it's like to grow up as a member of the Koch family". McClatchy Washington Bureau. Retrieved 24 August 2019.
- ^ a b c d e f g h i j "The Next Koch Doesn't Like Politics".
- ^ a b c Maloney, Tom (Aug 13, 2019). "Koch's Massive Tech Bet: 'Do It or We'll End Up in the Dumpster'". Bloomberg.
- ^ a b c d "Watch CNBC's full interview with Chase Koch of Koch Disruptive Technologies". CNBC. Jan 31, 2019.
- ^ Leonard (2019), pp. 493–497
- ^ "Kansas in Brief: Juvenile sentenced in fatal accident". Lawrence Journal-World. January 12, 1994. p. 10B.
- ^ Dark Money: The Hidden History of the Billionaires Behind the Rise of the Radical Right , January 2016
- ^ "KOCH Newsroom | Koch Industries".
- ^ "Chase Koch, Koch Disruptive Technologies Investments LLC: Profile and Biography - Bloomberg Markets". Bloomberg.com. from the original on 2020-11-29. Retrieved 2020-11-21.
- ^ Fisher, Daniel. "Inside The Koch Empire: How The Brothers Plan To Reshape America". Forbes.
- ^ Jerry Seibenmark (5 December 2013). "Koch Fertilizer reports name change, reorganization". Wichita Eagle. Retrieved 24 August 2019.
- ^ Reporter, Jessica Miller | City. "Koch Industries: 'Single largest project'". Enidnews.com.
- ^ Woodbury, Adalia (July 17, 2014). "Koch Brothers Pay Greg Abbott to Play Chemical Russian Roulette With Texas Residents". POLITICUSUSA.
- ^ "Chase Koch on Applying Market-Based Management to Social Justice Programs".
- ^ "Chase Koch - President, Koch Disruptive Technologies". Startup Grind. Nov 14, 2018.
- ^ McCoy, Daniel (Nov 14, 2018). "Chase Koch says servant leadership will help Koch and Wichita grow together". Wichita Business Journal.
- ^ Vogel, Kenneth P. "How the Koch network rivals the GOP". POLITICO.
- ^ Vogel, Kenneth P. "socialHeadline". POLITICO.
- ^ "Buyer of 70 acres is newlywed Chase Koch". Wichita Eagle. Retrieved 24 August 2019.
- ^ a b Daniel Schulman, Sons of Wichita: How the Koch Brothers Became America's Most Powerful and Private Dynasty, Grand Central Publishing, 2014, p. 87.
Sources
- Leonard, Christopher (2019). "The Education of Chase Koch". Kochland: The Secret History of Koch Industries and Corporate Power in America. New York: Simon & Schuster. pp. 486–512. ISBN 978-1-4767-7538-8. Retrieved 2019-08-25.