The respect and love business leader Charles Koch retains for his father, Fred, has been revealed in a interview with ABC News in which the Chairman of Koch Industries revealed he keeps a framed letter from his father on his office wall. The letter was written by Fred Koch in 1936, soon after the birth of his soon and explains how Fred hoped his children will live their lives; not only does Fred Koch give his views on life and business, but he explains the fears he has over the large trust funds his children will inherit when they turn 21.
The Wichita, Kansas born business leader Charles Koch still lives in his home city and looks to use his charitable foundations to aid the people of the state he was born in. The Koch Cultural Trust looks to keep the arts alive in Kansas with a reported $1.7 million given to artists and groups based in the state; Charles Koch has also made sure Wichita State University has benefited from the continued success of Koch Industries with donations made to various education and athletics departments within the college.
An area of great concern for Fred Koch has been revealed by Charles as that of how his children would cope with the large sums of money they would receive over the course of their lives; Charles Koch explains his father feared his children would simply wish to spend their time enjoying their wealth and live a country club style lifestyle. To avoid this happening Fred penned the letter to his children and explained how he believed a strong work ethic would be important in avoiding his own success becoming a problem for his children. This work ethic saw Charles Koch given household tasks including pulling weeds in the garden from a young age in a bid to make sure he understood the need for hard work to play an important role in his life.