Elaine Tettemer Marshall is an American billionaire heiress whose colossal fortune stems from her inherited minority stake in Koch Industries, the largest privately owned company in the world. Born in 1942, her wealth is the culmination of a complex family legal saga.

Her fortune is tied to the shares that were formerly owned by her late husband, E. Pierce Marshall (d. 2006), and originally by her father-in-law, J. Howard Marshall. Trusts for the benefit of Elaine and her two sons own the 16 percent beneficial interest in Koch Industries. This immense asset has been the subject of numerous, high-profile legal cases, including the infamous litigation involving Anna Nicole Smith (who was briefly married to J. Howard Marshall).

Elaine Marshall's career is defined by her role as a trustee and beneficiary of the trusts controlling her massive 16 percent stake in Koch Industries. She has served as a member of the board of directors of Koch Industries since 2006 (following her husband's death), providing crucial governance and oversight for the private industrial giant.

Her most public role has been her involvement in the decades-long legal battle over the inheritance, including the landmark Stern v. Marshall and Marshall v. Marshall cases. Her successful defense of the family's beneficial interest in Koch Industries secured her multi-billion dollar fortune (estimated at $30.9 billion with her family as of 2025). Her structural contribution is the preservation of the family's minority stake in the largest private company in the world, ensuring the long-term, stable governance of this industrial behemoth.

Elaine Marshall's social impact is structural, stemming from Koch Industries' role as a massive global employer and its influence on energy, chemical, and industrial supply chains. Her role on the company's board provides a voice for her family's interest in the governance of the massive enterprise.

Her career provides a unique example of a non-executive family member who successfully navigated decades of complex, high-profile inheritance litigation to preserve a generational fortune.

Elaine Marshall maintains the discreet, highly private style of an American dynastic heir. Her attire is professional and high-quality, favoring classic business wear. Her aesthetic reflects the stability and seriousness required for managing a high-stakes, multi-billion dollar trust fund.

Residing in Dallas, Texas, her luxury is the immense security and financial power derived from her stake in Koch Industries. Her life is defined by her role as a vigilant steward of one of the world's largest family fortunes.