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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 Pictures: Americaâs Richest Families. The four Koch brothers are the sons of Fred C. Koch, who invented a method of converting heavy oil into gasoline. Each son inherited a stake in Koch Industries when Fred died in 1967.Charles and David bought out William and Frederick for $1.1 billion in 1983.n Pictures: Americaâs Richest Families. The four Koch brothers are the sons of Fred C. Koch, who invented a method of converting heavy oil into gasoline. Each son inherited a stake in Koch Industries when Fred died in 1967.