13th Annual Prostate Cancer Foundation's Gala in the Hamptons with a Special Performance by Kool & The Gang

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David Koch, a billionaire businessman and staunch GOP donor has died.

“It is with a heavy heart that I announce the passing of my brother David,” Charles Koch said in a statement Friday. “Anyone who worked with David surely experienced his giant personality and passion for life.”

The 79-year-old helped run the family business, Koch Industries, a Kansas-based energy and chemical corporation. At the time of his death, he was worth $42.4 billion.

Koch is also known for working alongside his brother Charles to build a massive conservative network of donors for organizations that work to mobilize voters and sway elected officials in support of libertarian-leaning economic policies. The network, fronted by the nonprofit Americans for Prosperity, has spent more than a billion dollars over the past several elections to support candidates who adhere to their free-market, small-government, libertarian ideals.

Koch was also a prostate cancer survivor, donating millions to medical research. He was first diagnosed with the disease 27 years ago and was given only five years to live at the time.

In addition to his brother, David Koch is survived by his wife, Julia, and three children.

Source: NBC