J. Howard Marshall III

About

James Howard Marshall III (born February 6, 1936) is president and owner of MDH Industries, an electronics company based in Monrovia, California. He is the eldest son of J. Howard Marshall II, who owned 16% of Koch Industries.

At his wedding in 1974, Marshall III and his brother, E. Pierce Marshall, were each given shares representing a 4% stake in Koch Industries by their father, J. Howard Marshall II, who said “these are the crown jewels, take care of them.”
In 1980, the four sons of Fred C. Koch fought over control of Koch Industries, founded by their father. Marshall III sided with Bill Koch and Frederick R. Koch, while J. Howard Marshall II and E. Pierce Marshall sided with Charles Koch and David Koch. Charles and David got control of the company in 1983.
Marshall II then demanded that Marshall III return the 4% interest in Koch Industries that was gifted to him. Marshall III forced his father to pay $8 million for the shares. Even though the shares are worth billions today, at the time, his father thought the price was exorbitant and cut Marshall III out of his will and testament, saying the $8 million was “all he’d get”.
After his father died in…