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Richest Americans - #9

Thursday, September 20, 2007provided by

David Koch

Net Worth: $17 billion
Source: Oil, commodities
Residence: New York City
Age: 67
Marital Status: Married, 3 children

• Son of Koch Industries founder Fred C. Koch (d. 1967), MIT grad who invented method of refining gasoline from heavy oil.
• Took refining innovation to Soviet Union 1929; returned home 1930s, became fervently anticommunist.
• Sons Frederick, Charles, David and William inherited Koch Industries after father's death; duo bought out William and Frederick for $1.1 billion in 1983.
• Long-running fraternal feud over deal settled 2001.
• Today brother Charles lords over nation's largest privately held company: chemicals, pipelines, ranching, commodities trading, lumber, paper; also refining operations in Alaska, Texas and Minnesota.
• Estimated sales: $90 billion.
• Bought Georgia-Pacific for $21 billion in 2005.
• Company owns ranch land abutting Yellowstone National Park in Montana and Texas.
• David: ran as vice presidential candidate on the Libertarian Party ticket in 1980.

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Rates

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• Mortgage

  Loan Type	Today	Last Week
  30 Year Fixed	5.13%	5.16%
  15 Year Fixed	4.70%	4.60%
  1 Year ARM	3.98%	4.00%
  30 Year Fixed Jumbo	6.06%	6.10%
  5/1 ARM	4.30%	4.26%
  3/1 ARM	4.75%	4.80%

  Source: Bankrate
• Home Equity

  Loan Type	Today	Last Week
  $30K Home Equity Loan	8.35%	8.39%
  $50K Home Equity Loan	8.36%	8.41%
  $75K Home Equity Loan	8.39%	8.44%
  $30K HELOC	5.24%	5.26%
  $50K HELOC	4.99%	5.00%
  $75K HELOC	4.99%	5.00%

  Source: Bankrate
• Savings

  Savings Type	Today	Last Week
  6 month CD	1.13%	1.15%
  1 year CD	1.61%	1.63%
  3 year CD	2.28%	2.29%
  MMA	1.04%	1.05%
  $10K MMA	1.13%	1.13%
  $25K MMA	1.34%	1.35%

  Source: Bankrate
• Auto

  Loan Type	Today	Last Week
  36 Month New Car Loan	6.90%	6.96%
  48 Month New Car Loan	7.05%	7.12%
  60 Month New Car Loan	7.11%	7.18%
  36 Month Used Car Loan	7.39%	7.43%
  48 Month Used Car Loan	7.50%	7.51%

  Source: Bankrate
• Credit Cards

  Card Type	Today	Last Week
  Business Credit Cards	9.69%	9.69%
  Low Interest Credit Cards	11.91%	11.91%
  Cash Back Credit Cards	12.36%	12.36%
  Reward Credit Cards	12.85%	12.85%
  Instant Approval Credit Cards	13.32%	13.32%
  Balance Transfer Credit Cards	13.46%	13.46%

  Source: CreditCards.com

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