Elaine Marshall and her family are ranked No. 71 on the Forbes 2026 World’s Billionaires list, tied with Shiv Nadar, with a net worth of $30.9 billion. Trusts for her and her two sons hold a 16% interest in Koch Industries.
Elaine Tettemer Marshall was born on July 22, 1942. She was married to E. Pierce Marshall from 1965 until his death in 2006.
Net Worth and Rank
- Forbes 2026 list: No. 71 (tied with Shiv Nadar), with $30.9 billion, listed as “Elaine Marshall & family”
- Source of wealth: the Koch Industries shares held in trust
The Koch Industries Stake
Trusts for the benefit of Marshall and her two sons own the 16% beneficial interest in Koch Industries that was formerly owned by her husband, E. Pierce Marshall. The shares were previously owned by her father-in-law, the oil executive J. Howard Marshall II. She has been a member of Koch Industries’ board of directors since her husband’s death in 2006.
The Estate Dispute
J. Howard Marshall II was married to the actress Anna Nicole Smith in the last year of his life. After Smith sued to claim part of his estate, Elaine Marshall became a party to several legal cases, including Stern v. Marshall and Marshall v. Marshall. As a trustee and beneficiary of family trusts, she was also a defendant in a case decided in 2014 over gift tax due on an indirect gift of Koch Industries shares made by her father-in-law to those trusts in 1995.
Her Husband
Everett Pierce Marshall (1939–2006) was a petroleum industry executive. He spent the last 12 years of his life as a defendant in lawsuits brought by his stepmother, Anna Nicole Smith, and his brother.
Why It Matters
Koch Industries is the largest privately held company in the United States by revenue, according to Forbes, and the Marshall family’s trusts are one of its largest outside holders. Compare Charles Koch and Julia Koch, who hold other large stakes.
Net worth figures change daily with share prices. Rankings here follow the Forbes 2026 World’s Billionaires list, with wealth measured on March 1, 2026.
Image: The Pine Bend Refinery in Minnesota, run by Flint Hills Resources, a Koch Industries company (file photo, 2026; Elaine Marshall is not pictured). Photo: Tylervigen / Wikimedia Commons (CC BY 4.0)
