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Koch Network Says Political Spending Is Under 10% of Efforts as Charles Koch's Lifetime Giving Tops $2 Billion
Chase Koch, 48, of Wichita, Kansas, told TIME the Koch network devotes less than 10% of its efforts to politics and more than 90% to community-based solutions. Charles Koch, 90, has transferred nearly $6 billion in nonvoting shares to nonprofits while his personal giving passed the $2 billion mark.
May 14, 9:30 AM·3m read1 source
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Chase Koch told TIME in a May 5 phone interview that the Koch network's political spending represents less than 10% of its overall efforts, with more than 90% directed toward community-based solutions. The 48-year-old from Wichita, Kansas, described his stewardship of the philanthropic efforts built by his father, Charles Koch, who is 90 years old and has been involved in social change for almost 60 years.
Charles Koch’s personal giving has now passed the $2 billion lifetime marker, and he quietly helped transfer almost $6 billion in nonvoting shares of his suite of companies to a libertarian web of nonprofits and social-change organizations.
The Koch Family is, by some estimates, among the five richest on the planet with about $150 billion in worth, just ahead of the Saudi Royal Family. Chase Koch’s Key Change initiative and his Believe in People organization have already churned out more than $400 million in projects. Stand Together has cobbled together an unlikely coalition of business titans, celebrities, and community activists.
It works on criminal justice reform, education inequality, lowercase-L liberalism, and uppercase-C capitalism. The network still invests hundreds of millions of dollars in influencing elections. Its candidates have massive advantages through institutional endorsements, on-the-ground politicking, advertising dollars, and digital know-how.
“If you look at our overall efforts in politics, it's less than 10% of what we do across all the community efforts. Over 90% is community-based solutions,” Chase Koch said. Stand Together has 700 business leaders in all 50 states, supports over 300 community organizations, includes 90,000 educators, and has 4 million grassroots activists.
