Who is Julia Margaret Flesher Koch and why should you care?
Julia Margaret Flesher Koch is the richest woman in the world, according to Bloomberg and their Billionaire Index.
The widow of David Koch is estimated to be worth $60.7 billion with her family. For those of you that don't know David Koch was a former executive and co-owner of Koch Industries, the second-largest closely held company in the US.
David died this year at the age of 79, he had three children with his wife. According to a number of news sources, Julia and their children inherited a 42% stake in Koch Industries from David upon his death. All children are under 25.
WHO IS JULIA?
Julia and David were married in 1996, in Southampton Long Island. Julia was an assistant to designer Adolfo and used to help style and dress former first lady Nancy Reagan.
She grew up in Iowa, where her family owned a farm and furniture store, according to the news site GlobalIntel.
She met David Koch on a blind date but would only start to date him six months later when they reconnected again.
A NEW YORK SOCIETY GIRL
She is apparently beloved amongst New York society for her style and generosity in the US state. She has been known to give large amounts of money to arts organisations.
She has given money to the Lincoln Centre, the Metropolitan Museum of Art, and the Smithsonian Museum of Natural History.
Julia's fortune is derived from the inheritance of her late husband's 42 percent stake in Koch Industries. Koch Industries has annual revenues of about $110 billion, according to its website.
This is just some of the sources of Julia's wealth, thanks to Kock Industries:
Revenue for Flint Hills Resources and its chemicals business, as well as Koch Pipelines and Koch Fertilizer, is calculated to be $39 billion by comparing their reported production capacities with select industry peers.
Based on information from credit reports and people familiar, paper and pulp producer Georgia-Pacific had $21 billion of revenue, and polymer and fiber producer Invista had revenue of $4 billion. Electronic components manufacturer Molex had revenue of $5.5 billion.
Infor Global Solutions, an enterprise software company, had revenue of $3.1 billion and is 45 percent owned by Koch.
Of the remaining group revenue $33.9 billion, 90 percent, is attributed to Koch's commodity trading business. The remaining $3.6 billion is attributed to Koch's other businesses and is included at a price-to-sales multiple of one. Valuation details for the units analyzed individually can be found in the asset notes for each.
In addition, $30.4 billion in short term assets is held at the Koch Industries parent, based on Moody's reports stating that the company has a zero net debt position.
Koch's cash investments were included at $2 billion in 2015, based on a March 2016 Bloomberg report and applied to a generalised asset allocation since then.
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