Charles Koch is the 22nd richest person in the world

Charles Koch is the 22nd richest person in the world, according to Forbes International's ranking of the world's billionaires. According to the magazine, the businessman has a fortune estimated at 58 billion euros.

The American businessman's fortune comes from the family business Koch Inc, which was founded in 1873 as George Koch Son Tin Shop in Evansville, Indiana. The company has evolved from a small metalworking company into a diversified holding company .

This family-owned company has been the second largest privately held company in the United States since 1967. And in 2023, it had its first co-CEO.

The company currently operates six companies independently, which are present in different markets, but share the same business objectives and culture.

Last year the company closed the year reaching 1.1 billion dollars in sales.

Fred C. Koch, father of Charles and his brothers David, Frederick and William, was responsible for developing a method of refining heavy oil into gasoline in 1927, and putting the technique into the family business in 1940.

Upon their father's death, the four brothers inherited the company, with Charles becoming chairman . David became vice chairman in 1970, and the two brothers later bought out William and Frederick's stake in Koch Industries for $1.1 billion.