The Cato Institute is an American libertarian think tank headquartered in Washington, D.C. It was founded as the Charles Koch Foundation in 1974 by Ed Crane, Murray Rothbard, and Charles Koch, chairman of the board and chief executive officer of the conglomerate Koch Industries. In July 1976, the name was changed to the Cato Institute.Cato was established to have a focus on public advocacy, media exposure and societal influence.