Reports: Billionaire David Koch dies at 79

David H. Koch accepts the Laureate Award at the Lincoln Center Spring Gala at Alice Tully Hall on May 2, 2017 in New York City.

David Koch, the billionaire philanthropist, conservative political activist, and megadonor for the Republican party, has died at the age of 79, according to reports.

Last year, Koch stepped down from his roles at Koch Industries, the Americans for Prosperity Foundation, and other organizations due to declining health. At the time, David's brother Charles Koch, who serves as chairman and CEO of Koch Industries, said that issues that led to a 2016 hospitalization have not been resolved, and David's "health has continued to deteriorate."

Following the Koch Industries announcement last year, Americans for Prosperity Foundation announced that David was resigning from its board.

"Due to health reasons, David Koch will be resigning from the board of the AFP Foundation. We greatly appreciate his vital role on the board & all that he has done to help build a strong foundation for our future success. We wish him and his family well," a message from board of directors member Mark Holden said.

David was the Libertarian Party's vice presidential candidate for the 1980 presidential election. He and his brother Charles also founded Citizens for a Sound Economy, a predecessor organization to the advocacy group FreedomWorks.

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