The Journey of Charles Koch in Koch Industries
Get to know the CEO of Koch Industries, Charles Koch
We all know that being a successful entrepreneur is not an easy thing to achieve. It takes hard work to achieve the success we expect. Nothing is free in this world, if you want to succeed, you have to work hard on it. As we can learn from a wealthy and popular businessman named Charles Koch.
We certainly are already familiar with the name Charles Koch. This name has often been discussed in business magazines and business news because it is one of the names of the richest entrepreneurs in the world. This man is the figure behind the world-famous big company Koch Industries. Not working alone, Charles built and raised Koch Industries with his younger brother, David Koch.
What is Koch Industries? Koch Industries is a multinational company engaged in many fields. The company is engaged in oil refining, oil distribution, distribution of chemicals, fiber, fertilizers, paper, and so on. Even Koch Industries also developed into the investment field. It’s clear that this company is a big company with amazing profits.
Family Heritage Business
Unlike the story of another businessman who started a business from nothing, Charles managed Koch Industries as a legacy business from his father. Fred Koch, who was the father of Charles and David Koch, was the founder of Koch Industries in the past. However, even though Koch Industries is a family inheritance business, it does not mean that Charles only enjoys his pleasure.
As we know, there is usually a negative view if a person receives family inheritance. Having a company as a result from their parents is seen as a convenience. But, not with Charles and his brother. They did not view the company’s heritage as a convenience but a challenge to make the company better and grow.
Koch Industries was originally called Rock Island Oil & Refining Company and was a crude oil processing company in the United States. However, after Charles managed this business with his brother, Koch Industries grew even better and bigger. This company shows very rapid development. It can even be said that this company has developed thousands of times better than when it was still managed by their father.
Koch Industries is now managed by Charles who occupies the position of owner and CEO. Meanwhile, his younger brother David Koch has a role as Vice President of Koch Industries. This duo managed to raise Koch Industries as it is now and was named the second largest private company in the United States by Forbes magazine in 2011.
Charles’s Hard Work
Charles Koch did get Koch Industries as a legacy but that does not mean he just relax and enjoy the wealth that comes to him. Keep in mind that making a developing company far more difficult than building the company itself. Charles have a big job to develop this company. He has to achieve more than his father and this is what Charles did. He developed the company better than his father did.
Charles was born on November 1, 1935. He initially turned the oil refining company into a diversified petroleum product company. Charles developed his company by expanding the company to several countries such as China, Mexico, the United States, and Brazil. The company’s expansion clearly gave Koch Industries a rapid development from its previous position.
Handled by Charles, Koch Industries has more company assets. The company has more than 37,000 miles of oil and gas pipes. Koch Industries also has equipment to control pollution. In essence, everything that is owned by Koch Industries continues to grow and makes this company even bigger and more profitable.
Charles Koch was not only busy taking care of Koch Industries. Charles also recorded a position as director in another company. There are several companies that are also managed by Charles, including Georgia Pacific Corp., Intrust Financial Corp, and Invista. Charles’s hard work in several large companies shows that Charles is indeed a person who has a passion in the business world.
The achievement that achieved by Charles brought him as an inspirational figure. Many positive things can be learned and emulated from Charles. Charles was even called one of the most influential people in the world. This is because of the enthusiasm and hard work that can provide motivation for everyone in the world.
Charles attended the Massachusetts Institute of Technology (MIT) and majored in engineering. In 1957, Charles graduated from college and immediately took a master’s program in mechanical engineering and graduated in 1958. Not to stop there, Charles returned to take a master’s program in chemical engineering and successfully graduated in 1960.
As soon as he finished college, Charles worked at the Arthur D Little Inc. company. Not long lasting at this company, Charles joined his father’s company, which was still called Rock Island Oil & Refining Company. In 1967, Charles was appointed as president of the company and it was at this time that he changed the name of the company to Koch Industries.
As one of the richest people in the world, of course Charles didn’t want to enjoy his property alone. Charles is known as a successful entrepreneur who active in charity. Together with his younger brother, Charles is noted to frequently participate in charitable activities. Charles is noted to have provided financial support to several charitable organizations including the Bill of Rights Institute, the American Civil Liberties Union, Cato Institute, the Humane Study Institute, and so on.
What can we learn from a Charles Koch? The spirit that never goes out and the desire to continue to grow. Let us imagine what if at that time Charles only received an inheritance from his father without doing something to make him grow? Of course we cannot see the figure of Charles now that known as one of the richest people in the world.
Charles has motivated all of us. It doesn’t matter to accept company inheritance from your parents, but there must be something you do to make it grow. Koch Industries can grow better and develop like now because of the role of a passionate Charles Koch.