Charles and David Koch of Kansas are the wealthiest individuals in America’s oil and gas sector, with a combined net worth of US$83 billion, according to a Wealth-X Top 10 list that includes billionaires from Texas, New York and Oklahoma.
Charles, Koch Industries’ chairman and CEO, and David, executive vice president, are the principal owners of the Wichita-based company founded by their father Fred in 1940. Charles and David Koch each own 42% of Koch Industries, which is involved in the manufacturing, refining and distribution of petroleum, chemicals, polymer and other materials.
Four billionaires from Texas appear on the list: Milane Frantz (one of two females on the list), Ray Hunt, Jeffrey Hildebrand and William Hunt. Kansas is home to three oil and gas billionaires, the two Koch brothers as well as Elaine Tettemer Marshall, who inherited her fortune from her late husband, Everett Pierce Marshall, (who had holdings in Koch Industries).
With a combined wealth of US$83 billion, the Koch brothers make up over half of the total, combined net worth of the 10 billionaires on the Wealth-X list.
Wealth-X President David S. Friedman notes: “It's interesting to see how the Koch brothers are leveraging their wealth in the political arena and how Anschutz has leveraged his in the media.
Below are the top 5 wealthiest individuals in America’s oil and gas sector:
Wealth Source/Primary Company/Net Worth (in US$ bn)
1. Charles Koch (inheritance/self-made), Koch Industries, $41.5 bn
1. David Koch (inheritance/self-made), Koch Industries, $41.5 bn
3. Harold Hamm (ielf-made), Continental Resources, $14.1 bn
4. Philip Anschutz (self-made), Anschutz Company, $9.9 bn
5. George Kaiser (inheritance/self-made), GBK Corporation, $9.8 bn