1888 Management, LLC is Charles and David Koch’s latest enterprise, created to help the billionaire brothers invest their fortune in companies. Originally operated by Koch Industries’ treasury department, 1888 is now a corporation licensed to do business in California, Florida and Kansas. Trent May, portfolio manager of 1888, is seeking companies where the Koch brother’s investment will give them a major stake in the company.
In his book Good Profit, Koch explains his Market-Based Management philosophy, where he attributes helping others to improve their lives as the reason for Koch Industries’ success. For Koch, the philosophy works very well, Koch Industries is the nation’s second-largest private company, responsible for well-known brands like Northern bathroom tissue and Dixie cups.
Charles Koch is a man of contradictions; he is very wealthy, nevertheless, he’s concerned that America is headed toward a two-tiered society consisting of the very rich and the permanently disadvantaged. Koch Industries benefits from government subsidies, yet Koch is against corporate welfare. Koch runs a flourishing business, however, he supports programs that help low-income people start their own company. While he has dealt with the courts over lawsuits against Koch Industries, Charles Koch had the best legal representation money could buy, yet he truly understands the problems poor people face with the criminal justice system. In the end, Koch shows that he is a fair man, concerned about people who never had the advantages that he enjoyed early in his life.