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Koch Brothers Top Oil & Gas Rich List With Combined US$83 Billion Fortune

NEW YORK, Jan. 29, 2014 /PRNewswire/ -- Charles and David Koch of Kansas are the wealthiest individuals in America's oil and gas sector, with a combined net worth of US$83 billion, according to a Wealth-X Top 10 list that includes billionaires from Texas, New York and Oklahoma.

Charles, Koch Industries' chairman and CEO, and David, executive vice president, are the principal owners of the Wichita-based company founded by their father Fred in 1940. Charles and David Koch each own 42% of Koch Industries, which is involved in the manufacturing, refining and distribution of petroleum, chemicals, polymer and other materials.

Four billionaires from Texas appear on the list: Milane Frantz (one of two females on the list), Ray Hunt, Jeffrey Hildebrand and William Hunt. Kansas is home to three oil and gas billionaires, the two Koch brothers as well as Elaine Tettemer Marshall, who inherited her fortune from her late husband, Everett Pierce Marshall, (who had holdings in Koch Industries).

Below are the top 5 wealthiest individuals in America's oil and gas sector:

Rank

Name

Wealth Source

Primary
Company

Net Worth
(in US$ bn)

1

Charles Koch

Inheritance/Self-made

Koch Industries

41.5

1

David Koch

Inheritance/Self-made

Koch Industries

41.5

3

Harold Hamm

Self-made

Continental Resources

14.1

4

Philip Anschutz

Self-made

Anschutz Company

9.9

5

George Kaiser

Inheritance/Self-made

GBK Corporation

9.8

With a combined wealth of US$83 billion, the Koch brothers make up over half of the total, combined net worth of the 10 billionaires on the Wealth-X list.

Wealth-X President David S. Friedman notes: "It's interesting to see how the Koch brothers are leveraging their wealth in the political arena and how Anschutz has leveraged his in the media and entertainment industries.  It's also interesting to note that oil-driven wealth in North Dakota is creating millionaires, but we have yet to see a significant increase in the ultra wealthy in that area."

For the full list, visit http://www.wealthx.com/articles/2014/top-10-wealthiest-individuals-in-americas-oil-and-gas-sector/

About Wealth-X

Wealth-X is the definitive source of intelligence on the ultra wealthy with the world's largest collection of curated research on ultra high net worth (UHNW) individuals, defined as those with net assets of US$30 million and above. Headquartered in Singapore, it has 12 offices in five continents. (www.wealthx.com)

SOURCE Wealth-X

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