Influential businessman and donor David Koch dies aged 79

Conservative Billionaire David Koch, a major donor to the Republican party, has died aged 79, according to his brother.

The former majority owner of Koch Industries was ranked by Forbes below brother Charles as the 11th richest person in the world.

Charles Koch, the CEO of the family's industrial conglomerate Koch Industries, announced the death Friday.

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

The native of Wichita, Kansas, ran for president as a Libertarian in 1980, calling for the abolishment of several federal government agencies.

The brothers had a huge influence on the conservative movement.

Their push for small government and a free economy made them both famous and controversial.

In 2018 Koch stepped down from Koch Industries - which refines crude oil, produces fertiliser, and manufactures household products - citing his declining health.

According to Forbes, he is estimated to be worth $42.4bn (£34.7bn).