David Koch to retire from Koch Industries due to poor health: memo

(Reuters) – Conservative billionaire industrialist David Koch is retiring from his roles at Koch Industries and associated companies due to poor health, according to an internal memo seen by Reuters.

David Koch, 78, along with his elder brother Charles, owns the second largest private U.S. company, whose operations range from refining and chemicals to ranching and forest products.

The brothers are known to spend heavily on conservative initiatives and to oppose government intervention in business.

David, who was diagnosed with prostate cancer almost two decades ago, is the executive vice president at Koch Industries. The brothers have donated several millions to doctors and researchers working towards a cancer cure.

“David has always been a fighter and is dealing with this challenge in the same way,” Charles Koch wrote in the memo dated June 4.

The news comes a day after the brothers said they will launch a multimillion-dollar campaign to oppose President Donald Trump’s tariffs, and to champion free trade.

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