David Koch Cites 'Moral Responsibility'

the chronicle of MAY 26, 2016

PHILANTHROPY® David Koch Cites ‘Moral Responsibility’ to Boost His Giving BY MARIA DIMENTO

illionaire industrialist Da- vid Koch is best known for the large donations he has made to Republican candi- dates and PACs, but much Bof his philanthropy has nothing to do with politics. The 76-year-old energy and manufacturing tycoon is fond of ballet, and he recently donat- ed $2.5 million for a historically rooted production of “The Sleep- ing Beauty” by the choreographer Alexi Ratmansky at the American Ballet Theater. “When I was a teenager I loved fairy tales and romantic stories, and I thought Sleeping Beauty was an ideal subject,” he said. “I couldn’t have been more pleased ADRIENNE GRUNWALD FOR THE WALL STREET JOURNAL with the outcome and I think ev- Billionaire industrialist David Koch says he will accelerate his philanthropy in the arts and medical research. eryone loved it.” Mr. Koch has quietly given the ballet company a total Cultural Giving of $21 million — a small slice of the $1.3 billion he has In the Chronicle interview, David Koch made clear how given over the years. Although he has declined to sign much pleasure he gets from cultural donations, which the Giving Pledge, he is one of America’s most prolific have focused on institutions in his adopted hometown donors, appearing on The Chronicle’s list of top 50 donors of New York. He gave $100 million in 2008 to renovate seven times since 2006, often near the top. the New York State Theater at Lincoln Center, now called In an interview with The Chronicle, Mr. Koch pledged the David H. Koch Theater, and he has given nearly $79 to accelerate his philanthropy. Likely beneficiaries in- million to the Metropolitan Museum of Art, where he is a clude the arts and medical research, two causes he has trustee. given to repeatedly. And a recent article in the National He is particularly proud of his $65 million donation to the Review suggested that Mr. Koch and his brother Charles museum in 2012 to support a major renovation of its front may be pulling back from their heavy spending on elec- plaza and surrounding grounds. Mr. Koch describes the tions to focus more on supporting think tanks. renovation as “magnificent,” “beautiful,” and “spectacular.” Still, some of his cul- His experiences with tural giving has attracted the disease have led Mr. controversy. Last year, Koch to devote more than environmental activ- DAVID KOCH’S PHILANTHROPY $517 million — nearly half ists accused Mr. Koch of Total he says he has given in his of his giving to date — to supporting groups that help those suffering with deny climate change and lifetime: $1.3 billion cancer and support those petitioned to have him Top causes: health care, $596.8 working to cure it. removed from the board of the American Muse- million; education, $370.6 million; Big Money for Research um of Natural History, arts and culture, $292.5 million Mr. Koch considers the to which he has donated $100 million he gave the more than $20 million. Times he has appeared on the Massachusetts Institute of (His name adorns the Philanthropy 50 list of top U.S. Technology in 2007 to cre- institution’s Dinosaur donors: 7 ate the David H. Koch Cen- Wing.) He served 23 years ter for Cancer Research to on the museum’s board be among his most im- before stepping down in portant donations. He has January. Both the muse- contributed an additional um and Mr. Koch said at the time his decision was not $82.4 million to MIT, his alma mater, and has served on related to the petition. its Board of Trustees since 1988. He also counts as significant donations a $101 million Cancer Survivor gift to NewYork-Presbyterian Hospital for a patient-care Mr. Koch amassed a $43 billion fortune through his center; $29.5 million to the University of Texas M.D. family’s Koch Industries, a multinational corporation Anderson Cancer Center for research; and his gifts to based in Wichita, Kan., where he grew up. Memorial Sloan-Kettering Cancer Center, totaling $225 But wealth and privilege have not insulated him from million since 2006, for treatment, study, and a center for the indignities of mortality. Another side of his philan- the immunological control of the disease. thropy reflects his more than 20-year battle with prostate Despite such sums, Mr. Koch says he doesn’t think his cancer. charitable giving is particularly remarkable and says he Diagnosed with the disease in 1992, he has been in is planning more. remission for the last five years and says he feels lucky to “I was rather modest in my contributions when I was be in such good health. in my 20s, but as our company has become more and “I went through one treatment after another and it’s more profitable, I’ve felt a moral responsibility to make remarkable how I’ve been able to postpone the advance sizable contributions,” he says. “I mean to do that for the of the cancer I was expecting to pursue me,” he says. remainder of my life.” n

Posted with permission from The Chronicle of Philanthropy. Copyright ©2016. All rights reserved. www.chronicle.com #C50695 Managed by The YGS Group, 800.290.5460. For more information visit www.theYGSgroup.com.