David Koch to Retire From Business, Politics

David Koch to Retire From Business, Politics

David Koch to Retire From Business, Politics

The other responsibilities to which Charles referred in Monday's memo include serving as chairman of Americans for Prosperity, a grassroots organization at the conservative end of the political spectrum. Charles Koch said David Koch will now get the title of "Director Emeritus".

Through the allied Libre Initiative and Freedom Partners, it recently launched a campaign aimed at pushing congressional leaders to protect "dreamers" - people brought into the country illegally as children. Here is an excerpt from the note sent to staff.

In October 2016, David Koch had announced to employees that his health was declining and he had been hospitalized over the summer. As a result, he is unable to be involved in business and other organizational activities.

David Koch is leaving his roles as executive vice-president and board member for Koch Industries and chairman of the board for the Americans For Prosperity Foundation, the charity related to Koch brothers' primary political organization.

Koch's announcement came a day after groups backed by the two brothers said they would champion free trade and oppose tariffs with a multimillion-dollar campaign against U.S. president Donald Trump.

During the 2016 presidential campaign, however, the Kochs were rebuffed by Trump and indicated they would rather donate to his Democratic opponent, Hillary Clinton.

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David and Charles Koch are widely known for their financial support of conservative causes that favor businesses and stricter environmental regulation, according to the New York Times.

On the political side, officials confirmed David Koch would be stepping away, as well.

Through a constellation of aligned groups, the network still plans to spend between $300 million and $400 million on politics and policy during the 2018 election cycle.

But they have become more outspoken in recent months as President Donald Trump has followed through on some of the protectionist and populist rhetoric that made them leery of him in the first place.

David Koch, who now lives in NY, was raised in Wichita, Kansas. David Koch has given at least $1.3 billion of his fortune to charitable causes, including the David H. Koch Center for Cancer Care at New York's Memorial Sloan Kettering Cancer Center, the David H. Koch Cancer Research Building at Johns Hopkins University in Baltimore and the David H. Koch Theater, the Lincoln Center home for the New York City Ballet and the American Ballet Theatre.

David ran as a Libertarian candidate for president in 1980, and together the Koch brothers made large contributions to the Republican Party in 2010, facilitating the party's rise in the House of Representatives in that year's elections. He has also given $185 million in total donations to the Massachusetts Institute of Technology, his alma mater.

"Due to health reasons, David Koch will be resigning from the board of the AFP Foundation". They won about 1% of the vote.

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