Report: Billionaires Charles and David Koch to Hold Fundraiser in Carlsbad

Democratic activists opposed to the conservative politics of the billionaire Koch brothers, who are holding a meeting of allied activists in the area this weekend, will hold a demonstration in downtown San Diego Sunday.

The Park Hyatt Aviara Resort in Carlsbad is where Charles and David Koch, who tied as the fourth richest Americans on the 2012 Forbes list, reportedly are holding their secret reception and biannual fundraiser.

Charles Koch owns a home in Vintage Club at Indian Wells, the U-T San Diego reported.

The annual fundraising goal is about $400 million, according to the website Politico. The money will go to conservative think tanks such as American Enterprise Institute, The Heritage Foundation and The Federalist Society, along with advocacy groups, including Americans for Prosperity.

A meeting in Indian Wells raised more than $150 million earlier this year, and one in Rancho Mirage last year raised $49 million, according to Politico.

Mother Jones reported in September that it had infiltrated a Koch summit in Vail, Colo., and recorded Charles Koch thanking more than two dozen people who gave $1 million or more.

Democratic and union activists, members of the Occupy movement and others opposed to the Koch brothers plan to demonstrate at Children's Park at 10 a.m. this morning.

A statement issued by the San Diego County Democratic Party sought to tie locally elected officials to the Koch Brothers, including Republican City Councilman Carl DeMaio and Reps. Darrell Issa, R-Vista, and Brian Bilbray, R- San Diego.

Presumptive Republican presidential nominee Mitt Romney is holding a three-day retreat at the Deer Valley Resort in Park City, Utah. His guest list reportedly includes former Secretary of State Condoleezza Rice, Rep. Paul Ryan, R-Wis. Sen. John McCain, R-Ariz., Louisiana Gov. Bobby Jindal and GOP strategist Karl Rove.

The Koch brothers, whose fortunes are estimated at $25 billion each, control Wichita, Kan.-based Koch Industries Inc., the second highest valued, privately owned company in the United States. It was started by their father, who pioneered a method of refining heavy crude oil into gasoline. Their foundations are estimated to be worth hundreds of billions of dollars.

-City News Service