That raises questions about what will become of the Koch political network, which gives his father outsize influence in the U.S. “There is no comparison for any CEO in corporate America in terms of political influence when compared to Charles Koch,” Leonard said.
The Kochs sponsor candidates, think tanks, advocacy groups and academic groups pushing a conservative, free-market agenda.
Recently, there have been disagreements with the Republican Party under President Donald Trump on issues such as free trade and immigration. Americans for Prosperity, the Kochs’ primary political advocacy group, is shifting focus toward “finding nonpartisan solutions,” according to a June memo, and it’s prepared to support candidates who get things done regardless of party.
In July, the Kochs partnered with liberal investor and philanthropist George Soros to found the Quincy Institute for Responsible Statecraft, a think tank dedicated to promoting peaceful U.S. foreign policy.
Leonard said he isn’t convinced the moves constitute a real change to the Kochs’ political goals.
“It feels like an adaptable reaction to the moment,” he said, “even as Koch keeps its eye on the long-term strategy of doing one thing, which is constraining the reach of the federal government, dismantling the administrative state and pushing back the reach of government as far as possible.”
The political network is “exactly like the corporation,” he said. “It’s run with a long-term view. It has strategic patience.”
When Chase returned to Wichita to rejoin Koch Industries after his years in Austin, he began a rotation of high-level jobs, including stints in mergers and acquisitions, tax structuring, agronomics and trading. It was designed as an MBA-like experience to familiarize him with various parts of the operation.
Koch Industries won’t detail its succession plan beyond saying that one is in place, and that roles are filled by those most qualified.
If Chase eventually succeeds his father in running the firm and the political network, he’ll become one of the country’s most influential people.