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Best Answer: Charles and David Koch own Koch industries and they are oil men. Their father, Fred started it as an oil refining company. The sons inherited it and together own over 80% of the company, therefore there is no board of trustees with any kind of executive power, it is all in the hands of the brothers.
In March 2012, the Kochs, who together controlled half of the Cato Institute through two of the organization's four quarter-share shareholder seats, sued the Cato Institute to gain control of a third seat that had been held by a shareholder who died, which would have allowed the Kochs to further influence policy and management decisions within the organization.