David Koch spent billions giving back to charity, here’s where it all went
He was a man with a big wallet, but also a big heart. He even referred to himself as a “sugar daddy” for charitable causes.
On Friday, David Koch died, his family said, following a battle with prostate cancer.
"Twenty-seven years ago, David was diagnosed with advanced prostate cancer and given a grim prognosis of a few years to live," his brother Charles Koch said.
"David liked to say that a combination of brilliant doctors, state-of-the-art medications and his own stubbornness kept the cancer at bay. We can all be grateful that it did, because he was able to touch so many more lives as a result.”
Some of the ways the conservative philanthropist was able to change lives was dipping into his estimated $50.5 billion fortune and giving more than a billion dollars to a variety of organizations.
According to his company bio, those included research arms looking into cancer cures, medical centers, educational institutions, arts and cultural centers and public policy organizations.
In interviews with The Wall Street Journal, he said he had a preference of donating his money rather than “use it on buying a bigger house or a $150 million painting.”
“I really want to put my money to work making the world a better place.”
Fox Business took a look at how much he gave back to the world, according to a profile on some of his generous donations outlined by the Wichita Business Journal:
$185 million
Massachusetts Institute of Technology
According to Koch Industries records, the money helped fund cancer research, a childcare center, biology building and the David H. Koch School of Chemical Engineering.
$150 million
Memorial Sloan-Kettering Cancer Center
It was the largest single gift the center received. The money went to build an outpatient medical facility.
$100 million
New York-Presbyterian Hospital
Koch sent the nine-figure donation to help build an ambulatory care center in his honor. Another $28 million went to other needs for the hospital.
$100 million
New York State Theater at Lincoln Center
The theatre is now known as the David H. Koch Theatre.
New York, USA - May 29, 2018: David H Koch Theater, New York City Ballet.
$66.7 million
Memorial Sloan-Kettering Cancer Center
This donation went to assist the center with additional research funds.
$65 million
The Metropolitan Museum of Art
The New York museum had their plaza renovated with the money.
NEW YORK, NY - SEPTEMBER 09: Thomas P. Campbell, Director and CEO of The Metropolitan Museum of Art, Emily K. Rafferty, President of The Metropolitan Museum of Art, David H. Koch and Julia Koch attend the unveiling of the David H. Koch Plaza at the M
$35 million
Smithsonian’s National Museum of Natural History
Koch’s money was spent renovating the museum’s dinosaur hall and $15 million went toward the David H. Koch Hall of Human Origins.
Washington DC, USA - April 12, 2015: Banners hang at the entrance to the National Museum of Natural History in DC. It is considered the second most visited museum in the world.
$26.5 million
M.D. Anderson Cancer Center
The donation assisted with the research of genitourinary cancers, resulting in a center bearing his name.
$26.2 million
The Hospital for Special Surgery in New York
This charitable donation served as a capital campaign along with other causes.
$20 million
American Museum of Natural History, New York
The Dinosaur Wing of the museum was named for his monetary assistance.
The entrance hall of American Museum of Natural History, Central Park West, New York City, NY, USA
$20 million
Johns Hopkins University
The eight-figure donation sent to cancer research at a center named for Koch.
$10 million
Jaffe Food Allergy Institute at the Mount Sinai Medical Center
This donation created the David H. and Julia Koch Research Program in Food Allergy Therapeutics
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