Posted: Aug 20, 2012 12:02 PM by Kate Richards
CRESTED BUTTE, Colo. (AP) - Billionaire Bill Koch is known for spending lavishly to buy Western artifacts. Now he's building his own Old West town in Colorado.
The Denver Post reported Monday the town is on Koch's 10-square-mile Bear Ranch near the Raggeds Wilderness Area roughly 125 miles southwest of Denver.
The town includes a saloon, jail, livery and train station. Koch's project manager has told Gunnison County officials the town was built for Koch, his family and friends and won't be open to the public.
Koch is president of the Florida-based Oxbow Group, which operates the Elk Creek coal mine in western Colorado. Forbes estimates his net worth at close to $4 billion.
His billionaire brothers, David and Charles Koch, make headlines for big contributions to conservative causes.