Charitable giving is a major characteristic common with many wealthy figures in the world such as Phil Knight, the Co-founder of Nike Inc. In the recent past, Knight proclaimed about his $400 million scholarship to the Stanford University. However, Charles Koch ranks high when it comes to giving generous donations to Universities or Colleges in the United States through his Charles Koch Foundation.
George Mason University is among the top institutions in the United States that have garnered significant support from the Koch Foundation. Consequently, the school has managed to make a name for itself in the law and economics division by utilizing the donations to conduct studies and research. Records from 2014 indicate that both the George Mason University and GMU’s Institute for Humane Studies were beneficiaries of $16.8 million from the Koch Foundation.
Koch support to GMU has triggered debate from various parties and critics of Charles Koch. The Faculty and students in GMU have also raised questions regarding academic independence. Close associates to Charles Koch a have staunchly defended Koch by saying that the donations are not attached to any form of conditions. They have also downplayed critics by stating that their assertions have been triggered by Charles Koch’s ability to continue supporting Libertarian and conservative endeavors.
The debate has also developed because no other institution in the United States received an excess of $1 million each year for the period between 2011 and 2014.On the other hand, records in the form of taxes, as well as other documents indicate that in the same period, the George Mason got approximately $48 million.
An In-depth Look at Charles Koch
Koch is among the most influential individuals in the United States. He has been actively involved in politics by supporting the Republican Party. Charles and David Koch, his brother, actively run the operations of the Koch Industries, which has grown tremendously over the years since they succeeded their father. According to Forbes, his current net worth amounts to $42.9 billion at the age of eighty.
Apart from his wealth, Charles Koch is academically proficient is a proud alumnus of the Massachusetts Institute of Technology. He has also written and published several works, which include Good Profit and The Science of Success. These books revolve around Charles’s business philosophy. Koch is also a charitable giver who supports various institutions of higher learning across the United States including the George Mason University. In addition, he supports creative artists and artistic projects through their Koch Cultural Trust, which was established by Elizabeth, his wife.