The Richest People In America: Charles Koch

© AP Photo/Topeka Capital-Journal, Mike Burley

#9 Charles Koch

$19.0 billion
Source: manufacturing, energy

With brother David, transformed family refining business into America's largest private company. Father, Fred C. Koch (d. 1967), invented method of turning heavy oil into gasoline. Sons Charles, David, Frederick and William inherited Koch Industries after father's death. Charles and David bought out William and Frederick for $1.1 billion in 1983; fraternal fight over deal settled in 2001. Today Koch Industries has stakes in pipelines, refineries, fertilizer, fibers and polymers, forest and consumer products, chemical technology. Brothers each own 42%; collective fortune up $4 billion as oil and fertilizer prices soar. Sales last year: $98 billion. Employs 80,000 workers in 60 countries. Purchased Invista, maker of Lycra and Coolmax fabric, in 2004 for $4.2 billion. Dropped $21 billion on paper and building-supply vendor Georgia-Pacific the following year. Charles studied nuclear and chemical engineering at MIT, chief executive since 1967; cofounder of conservative think tank Cato (nyse: CTR - news - people ) Institute.

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