Koch Industries confirmed Friday morning that 79-year-old David Koch, brother to 83-year-old Charles Koch, has died.

The Koch family legacy includes the second-largest company in the US, Koch Industries, along with numerous political and policy institutions and billions of dollars spent toward advocacy, with an emphasis on conservative and libertarian policies, including free trade and small government.

After David's death, his nephew Chase, the son of Charles, is in line to take his uncle's place as a key figure in the Koch network. Politico Magazine said in December that Chase would likely shift his family's legacy away from conservative policy and toward broader libertarian ideals.

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The "Koch brothers" became a household name thanks to the conservative legacy, network, and $100 billion company spearheaded by David and Charles Koch. Now Koch Industries has confirmed that 79-year-old David has died after a 27-year battle with prostate cancer.

With 83-year-old Charles remaining at the helm of the second-largest company in the US, hundreds of billions of dollars, a massive GOP voting bloc, and an exhaustive list of advocacy and policy initiatives running on the Koch family's dime, it's time for another Koch to step up and succeed David in the family business.

With all of David's children under the age of 25, and Charles' eldest child, Elizabeth, uninvolved in Koch Industries or its network at large, that role falls to Chase Koch, 42, Charles' son.