The bankers estimated Koch Industries was worth approximately $160 per share. Charles engaged Morgan Stanley and Lehman Brothers to value the company so that he could buy out Bill and any other shareholder who wanted to sell. Charles wanted loyalty from the members of his company and decided he needed a divorce from his brother Bill. Following lengthy discussion, the board voted to oust Bill from the company by a significant majority, so David was able to abstain. The settlement is binding and will not change, no matter what happens in the criminal appeal.Īfter Bill’s revolt fell apart, the Koch board called a special meeting to debate Bill’s fate at Koch Industries. They both remain free on bail pending appeal of the criminal convictions. Astor’s estate were sentenced to three years in prison. Marshall and the attorney who planned Ms. His portion of the estate was decreased from from $31 million to $14.5 million because he had been convicted of stealing money from his mother, for which Mr. The most significant item in the settlement was the smaller inheritance of Ms. Additional millions were earmarked to maintain Central Park, city playgrounds, Prospect Park, and several cultural institutions in New York City. The agreement created the Brooke Astor Fund for New York City Education and gave the fund $30 million. A long-running feud over Brooke Astor’s estate ended in 2012 with a settlement. Brooke Astor was a socialite and philanthropist, whose third husband was a descendent of America’s first millionaire, John Jacob Astor.
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