The Koch brothers’ fortune can be traced back to 1888 when their grandfather Hotze “Harry” Koch landed in America and started prospecting for wealth. The Koch brothers are establishing a distinct wealth management Family office that will oversee, manage and invest the family fortune. The investment firm otherwise labeled 1888 Management LLC was first registered in Delaware but has since been foreign qualified to operate in the states of California, Florida and Kansas. Estimating what will be managed by the family office will be pure speculation but a source associated with the office has put the figure around $ 2 billion.
The Family office has already appointed Trent May to head and oversee its operations. Trent May has being described as a financial wizard having turned round the Fortunes of the Wyoming Retirement System after its fall during the financial crisis of 2008. The $ 6 billion retirement scheme made a whopping 23% increases in returns and continued to rise. Trent has been positively credited by Thomas Williams the director of Hawaii Employees’ Retirement System and Laura Ladd the Chair Woman of Wyoming Retirement System.
X5 OpCo LLC a telecommunication company has also been sighted by 1888 LLC. Its board consists of 3 executives Richard Dinkel, Steven Feilmeier and David May. Other than the 3 members it has Koch family representation in the form of David H. Koch, Anna B. Koch and Elizabeth b. Koch.
Charles Koch has criticized the American criminal system calling it overly punitive. He draws his experience form civil suits in which he has more defended his employees rather than leave them out in the cold. This has led him to fund advocacy groups that advance the rights and provide representation for minority groups and the poor in order to reform the justice sector. Charles Koch is interested in social advancement and mutual well being. His beliefs are some of the pillars in which the Vast Koch Empire is based on and might be one of the reasons that have made the Koch industries prosper.