"We are deeply saddened by this, and will miss David's insightful questions and his many contributions to Koch Industries, "Charles Koch wrote about his 78-year-old brother".
David Koch, one of two billionaire brothers whose powerful conservative network transformed Republican politics, is retiring from business and political life because of declining health, potentially testing the staying power of an organization that was already changing in dramatic ways.
In a letter to all employees of Koch Industries sent Tuesday, David's brother Charles Koch, who serves as chairman and CEO of Koch Industries, said that issues that led to a 2016 hospitalization have not been resolved, and David's "health has continued to deteriorate".
The Koch Brothers have always been supporters of the Republican Party but Donald Trump has angered the family and three political groups that support them. According to an official biography, he has pledged or contributed a total of more than $1.3 billion to assist causes from cancer research to medical centers, educational institutions, arts and cultural institutions and public policy organisations. Charles Koch, 82, has appeared in recent months to pick up some of the slack left over by his brother's illness.
On Monday, the Koch network announced a multi-million-dollar campaign to oppose Trump's tariffs and highlight the benefit of free trade.
Pakistan again proves it can't be trusted: BSF IG
The casualty figure along the Line of Control has gone up to 46 in the state. It is not the first time that Pakistan has gone back on its word.
The network, which includes about 700 like-minded donors who commit to giving at least $100,000 a year, plans to spend $400 million in policy and politics before the 2018 elections, the group's largest midterm investment. When Donald Trump called for a Muslim registry during his 2016 campaign, Charles spoke out against it. "We greatly appreciate his vital role on the board and all that he has done to help us build a strong foundation for our future success".
David Koch, executive vice president at Koch Industries, will become director emeritus. The MIT grad ran as the Libertarian candidate for vice president with Ed Clark in the 1980 election, where the duo won roughly one million votes.
Born and raised in Wichita, David Koch received his bachelor's and master's degrees in chemical engineering from the Massachusetts Institute of Technology.
Although David Koch's involvement had been reduced in recent years, he still held several top positions within the Koch network, including as chairman of a foundation that supports Americans for Prosperity.
But Koch is perhaps better known for his work as an industrialist and his support for libertarian political causes. According to Forbes, the company, which was founded in 1940, had $100 billion in revenue in 2017, making it the second-largest privately held American company.