Charles Koch Talks About His New Book and Business Philosophy

In an article published in the Wichita Business Journal titled “Charles Koch wants to spread the wealth of ideas,” reporter Daniel McCoy summarizes an interview he had with Charles Koch in the Journal’s Friday weekly edition. Charles recently released a book describing the guiding principles that have helped him to be a successful business owner. In the book he goes into detail about the principles of his market-based management business philosophy that has been instrumental in the growth and success of Koch Industries which is the second largest privately held company in the US.

Koch Industries was founded by Charles’s father Fred Koch as an oil refining and chemical processing company. When Charles and his brother David took over the company after their father past away, they expanded its operations to include producing agricultural products, consumer products, manufacturing fiber optic systems, and ranching. The Wichita, Kansas based company has annual revenues of $115 billion and employs over 100,000 people. The growth and success of Koch Industries has placed Charles at #5 on the Forbes 400 List of the wealthiest people in the world with a net worth of $41 billion. Charles has become known for his philanthropy, and he has funded many causes through his charitable organizations such as the Fred and Mary Koch Foundation, the Charles Koch Foundation, the Koch Cultural Trust, and the Charles Koch Institute.

Charles Koch knows that promoting his book has cost him opportunities by taking him away from running the day-to-day operations of his company, but he believes the principles outlined in his book are worth sharing with others so that they can be successful. He cares about what he thinks of himself and helping others is something that makes him happy. He believes the key to a meaningful life is to find a passion, develop that passion, and then apply that passion in a good way, and he feels his book “Good Profit” will help society become better in a principled way. The Wichita Business Journal article can be found at http://www.bizjournals.com/wichita/news/2015/12/10/charles-koch-wants-to-spread-the-wealth-of-ideas.html.

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