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{{Infobox person |
{{Infobox person |
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| name = Bradley Jacobs |
| name = Bradley Jacobs |
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| birth_name = |
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| birth_date = {{birth date and age|1956|08|03}} <!-- {{birth date and age|YYYY|MM|DD}} for living people. For people who have died, use {{Birth date|YYYY|MM|DD}}. --> |
| birth_date = {{birth date and age|1956|08|03}} <!-- {{birth date and age|YYYY|MM|DD}} for living people. For people who have died, use {{Birth date|YYYY|MM|DD}}. --> |
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| birth_place = [[Providence, Rhode Island|Providence]], [[Rhode Island]], U.S. |
| birth_place = [[Providence, Rhode Island|Providence]], [[Rhode Island]], U.S. |
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| death_date = |
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| death_place = |
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| residence = [[Greenwich, Connecticut|Greenwich]], [[Connecticut]], U.S. |
| residence = [[Greenwich, Connecticut|Greenwich]], [[Connecticut]], U.S. |
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| alma_mater = {{unbulleted list |[[Northfield Mount Hermon School]] |[[Bennington College]] |[[Brown University]]}} |
| alma_mater = {{unbulleted list |[[Northfield Mount Hermon School]] |[[Bennington College]] |[[Brown University]]}} |
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| occupation = Businessman |
| occupation = Businessman |
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| known_for = {{unbulleted list |Chairman, CEO and/or founder of: |[[XPO Logistics]], [[United Rentals]], United Waste Systems, Hamilton Resources (UK), Amerex Oil Associates}} |
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| net worth = $2.5 billion (February 2020) |
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| net worth = $2.2 billion (February 2019)<ref name=ForbesBill>{{Cite web|first= |last= |authorlink= |title= #388 Bradley Jacobs |website=[[Forbes (magazine)]]|date=|url=https://www.forbes.com/profile/bradley-jacobs/#5eb5d981c7d0 |accessdate=February 27, 2020}}</ref> |
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{{Use mdy dates|date=November 2011}} |
{{Use mdy dates|date=November 2011}} |
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'''Bradley “Brad” Jacobs''' (born August 3, 1956) is an American businessman. He is the chairman and |
'''Bradley “Brad” Jacobs''' (born August 3, 1956) is an American businessman and billionaire. He is the chairman and CEO of [[XPO Logistics|XPO Logistics, Inc.]]<ref>{{cite web |url=http://fortune.com/2017/07/05/xpo-logistics-fortune-500-ceo/ |title=How to Deal With Doubters, According to One Fortune 500 CEO |publisher=Fortune |author=Susie Gharib |date=July 5, 2017}}</ref><ref>{{cite web |url=https://nypost.com/2017/08/16/overstock-looking-to-gain-advantage-with-potential-2-day-delivery/ |title=Overstock looking to gain advantage with potential 2-day delivery |date=August 16, 2017 |publisher=New York Post |author=Josh Kosman}}</ref><ref>{{Cite news|url=https://www.greenwichtime.com/business/article/16-Connecticut-residents-make-Forbes-2018-list-of-12731918.php#photo-13466413|title=16 Connecticut residents make Forbes 2018 list of billionaires|last=Ryan|first=Lidia|date=2018-03-06|work=GreenwichTime|access-date=2018-03-06|archive-url=|archive-date=|dead-url=}}</ref> and the managing director of Jacobs Private Equity, LLC.<ref name="jpe">{{cite web|url=http://jpe.com |title=Jacobs Private Equity, LLC |publisher=Jacobs Private Equity |accessdate=August 20, 2016}}</ref> Jacobs is best known for consolidating companies in the waste management, equipment rental, and transportation and logistics industries.<ref>{{Cite web|url=http://www.forbesindia.com/article/cross-border/bradley-jacobs-the-maestro-of-mergers/50127/1|title=Bradley Jacobs: The maestro of mergers|website=Forbes India|language=en|access-date=2019-07-22}}</ref> He has led approximately 500 acquisitions and 250 [[Startup company|cold-starts]] over the course of his career,<ref name="jpe"/> and raised more than $25 billion in debt and equity financing. |
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Over the course of his career, Jacobs has led approximately 500 acquisitions and 250 greenfield openings and raised over $25 billion of debt and equity capital, including two IPOs.<ref>{{Cite web|url=http://www.forbesindia.com/article/cross-border/bradley-jacobs-the-maestro-of-mergers/50127/1|title=Bradley Jacobs: The maestro of mergers|website=Forbes India|language=en|access-date=2019-07-22}}</ref><ref>{{Cite web|url=https://www.wsj.com/articles/bradley-jacobs-has-acquired-more-than-500-companies-heres-what-he-has-learned-11572228061|title=Bradley Jacobs Has Acquired More Than 500 Companies. Here’s What He Has Learned.|last=Smith|first=Jennifer|website=WSJ|language=en-US|access-date=2019-11-18}}</ref><ref name="jpe"/> |
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[[XPO Logistics|XPO Logistics, Inc.]] is the 7th best-performing stock of the last decade on the Fortune 500, and [[XPO Logistics|XPO Logistics, Inc.]], [[United Rentals]] and United Waste were all ten-baggers, with the share prices rising more than 1,000% from the time Jacobs took control.<ref>{{Cite web|url=https://finance.yahoo.com/news/xpo-logistics-explores-sale-or-spinoff-of-one-or-more-of-its-businesses-214129388.html|title=XPO Logistics explores sale or spin-off of one or more of its businesses|last=Sozzi|first=Brian|date=Jan 15, 2020|website=Yahoo Finance|url-status=live|archive-url=|archive-date=|access-date=}}</ref> |
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<ref>{{Cite web|url=https://seekingalpha.com/article/4267536-xpo-logistics-is-cash-generating-machine|website=Seeking Alpha| title=XPO Logistics is a cash-generating machine|date=May 31, 2019}}</ref> |
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<ref>{{Cite web|url=https://www.ctinsider.com/business/thehour/article/One-man-delivers-two-big-CT-stocks-for-the-decade-14930105.php#photo-18800579| title=One man delivers two big CT stocks for the decade|website=The Hour|date=December 24, 2019}}</ref> |
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<ref>{{Cite web|url=http://jpe.com/ |title=Jacobs Private Equity|}}</ref> |
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As of February 2020, Jacobs was #388 on the [[Forbes]] 400, with a net worth of $2.5 billion.<ref>{{Cite news|url=https://www.greenwichtime.com/business/article/16-Connecticut-residents-make-Forbes-2018-list-of-12731918.php#photo-13466413|title=16 Connecticut residents make Forbes 2018 list of billionaires|last=Ryan|first=Lidia|date=2018-03-06|work=GreenwichTime|access-date=2018-03-06}}</ref><ref>{{Cite web|url=https://www.forbes.com/forbes-400/|title=Forbes 400 2018|website=Forbes|language=en|access-date=2018-10-20}}</ref><ref>{{Cite web|url=https://www.forbes.com/profile/bradley-jacobs/|title=Bradley Jacobs|website=Forbes|language=en|access-date=2019-12-02}}</ref> |
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==Early life and education== |
==Early life and education== |
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Jacobs was born in [[Providence, Rhode Island]]. He attended [[Northfield Mount Hermon School]], [[Bennington College]] and [[Brown University]] |
Jacobs was born to a [[American Jews|Jewish]] family in [[Providence, Rhode Island]], the son of Charlotte Sybil (née Bander) and Albert Jordan Jacobs.<ref>{{Cite web|first= |last= |authorlink= |title=Charlotte Sybil (Bander) Jacobs (1929–2013)|publisher=[[The Providence Journal]]|date=April 8, 2013 |url=https://www.legacy.com/obituaries/sunsentinel/obituary.aspx?n=charlotte-sybil-jacobs-bander&pid=164129386&fhid=11539 |accessdate=}}</ref><ref>{{Cite web|first= |last= |authorlink= |title=Albert Jordan Jacobs (1927–2018)|publisher=[[The Providence Journal]]|date=May 31, 2018 |url= https://www.legacy.com/obituaries/providence/obituary.aspx?n=albert-jordan-jacobs&pid=189147355&fhid=11539 |accessdate=}}</ref> His father was a jewelry importer. He attended [[Northfield Mount Hermon School]], [[Bennington College]] and [[Brown University]], but dropped out of school in 1976 to broker oil contracts.<ref name="forbes1999">{{cite news|author= |url=https://www.forbes.com/forbes/1999/1011/6409402a.html |title=Near Misses |work=Forbes |accessdate=November 11, 2011 |date=October 11, 1999}}</ref> |
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==Career== |
==Career== |
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===Amerex Oil Associates, Inc.=== |
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⚫ | In 1979, at the age of 23, Jacobs co-founded Amerex Oil Associates Inc., an oil brokerage firm with offices in [[New Jersey]], [[Houston]], [[London]], and [[Tokyo]].<ref name="jpe"/><ref name="fundinguniverse1">{{cite web|url=http://www.fundinguniverse.com/company-histories/United-Rentals-Inc-Company-History.html |title=United Rentals, Inc. – Company History |publisher=Fundinguniverse.com |accessdate=November 11, 2011}}</ref><ref name="stamfordadvocate2005">{{cite web|url=http://www.stamfordadvocate.com/default/article/June-4-2005-Entrepreneur-tells-of-unknown-future-1373839.php |title=June 4, 2005 Entrepreneur tells of unknown future |publisher=StamfordAdvocate |date=May 10, 2011 |accessdate=November 11, 2011}}</ref> He served as its CEO until the firm was sold in 1983. In that time, the company's annual gross contract volume grew to approximately $4.7 billion.<ref name="jpe"/> |
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===Hamilton Resources (UK) Ltd.=== |
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⚫ | In February 2012, Jacobs announced plans to grow XPO's revenue from $175 million to $5 billion within five years through [[Mergers and acquisitions|M&A]].<ref>{{Cite web|url=https://www.bloomberg.com/news/articles/2017-10-02/with-his-stock-up-330-a-serial-dealmaker-seeks-biggest-hit-yet|title=With His Stock Up 330%, a Serial Dealmaker Seeks Biggest Hit Yet|last=Black|first=Thomas|date=October 2, 2017|website=Bloomberg}}</ref> By |
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⚫ | In 1984, Jacobs moved to [[London]] and founded Hamilton Resources (UK) Ltd., an oil trading company,<ref name="forbes1999"/> using the bulk of his savings and a $1 billion line of credit from [[Banque Paribas]].<ref name="stamfordadvocate2005"/> As chairman and chief operating officer, he grew the company to approximately $1 billion in annual revenue, before quitting the business in 1988 and moving back to the United States.<ref name="forbes1999"/> |
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===United Rentals, Inc.=== |
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⚫ | In 1997, Jacobs formed [[United Rentals]]<ref name="fundinguniverse1"/><ref name="forbes1998"/> |
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===United Waste Systems, Inc.=== |
===United Waste Systems, Inc.=== |
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In 1989, Jacobs founded United Waste Systems in [[Greenwich, Connecticut]], |
In July 1989, Jacobs founded United Waste Systems in [[Greenwich, Connecticut]], planning to consolidate small garbage collectors that had overlapping routes in rural areas.<ref name="fundinguniverse1"/> Jacobs served as chairman and CEO,<ref name="stamfordadvocate2003">{{cite web|url=http://www.stamfordadvocate.com/default/article/October-1-2003-United-Rentals-CEO-Steps-Down-1373844.php |title=October 1, 2003 United Rentals CEO Steps Down |publisher=StamfordAdvocate |date=May 10, 2011 |accessdate=November 11, 2011}}</ref> and in 1992 he took the company public on the [[NASDAQ]]. In August 1997, after the company had made more than 200 acquisitions,<ref name=":1" /> Jacobs sold United Waste Systems to USA Waste Services Inc. (now known as [[Waste Management (corporation)|Waste Management, Inc.]]) for $2.5 billion.<ref name="stamfordadvocate2005"/><ref name="forbes1998">{{cite news|author=Silvia Sansoni |url=https://www.forbes.com/global/1998/0601/0105060a.html |title=The earth mover |work=Forbes |date=April 8, 1996 |accessdate=November 11, 2011}}</ref><ref name="dcvelocity2012">{{cite web|url=http://www.dcvelocity.com/articles/20110109thebigbetofbradjacobs/ |title=The big bet of Brad Jacobs |publisher=DCVelocity |date=January 9, 2012 |accessdate=May 12, 2016}}</ref> At the time of the sale, United Waste Systems was the fifth-largest solid waste management company in North America and its stock had outperformed the S&P 500 Index by 5.6 times since its IPO.<ref name="jpe"/><ref name="forbes1998"/><ref>{{Cite web|url=http://jpe.com/|title=Jacobs Private Equity|website=jpe.com|access-date=2019-07-22}}</ref> |
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===United Rentals, Inc.=== |
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⚫ | In September 1997, Jacobs formed [[United Rentals]],<ref name="fundinguniverse1"/><ref name="forbes1998"/> serving as the new company's chairman and CEO. As with United Waste, Jacobs planned to grow United Rentals through a [[rollup]] strategy, consolidating small equipment rental dealers across North America.<ref name="stamfordadvocate2003"/><ref name="rermag1">{{cite web|author=Brandey Chewning Smith, RER |url=http://rermag.com/mag/equipment_jacobs_step_down_2/index.html |title=United Rental CEO |publisher=Rermag.com |date=November 1, 2003 |accessdate=November 11, 2011}}</ref><ref>{{Cite news|url=https://www.wsj.com/articles/SB898036209204561000|title=United Rentals Business Bores Everyone Except Shareholders|last=Journal|first=Steven LipinStaff Reporter of The Wall Street|date=1998-06-17|work=Wall Street Journal|access-date=2019-07-22|language=en-US|issn=0099-9660}}</ref> The company went public in December 1997,<ref name="autogenerated1998">Wall Street Journal, June 17, 1998, “United Rentals Business Bores All but Holders”</ref><ref name="rentalmanagementmag2">{{cite web|author=Christine Coleman |url=http://www.rentalmanagementmag.com/Article/tabid/670/smid/1276/ArticleID/11606/reftab/685/t/Default.aspx |title=Hoxie, Jacobs and Plugge join the Rental Hall of Fame |publisher=Rentalmanagementmag.com |accessdate=November 11, 2011}}</ref><ref>{{cite news|url=https://www.nytimes.com/1999/04/06/business/united-rentals-makes-offer-for-acquisition-minded-rival.html?ref=unitedrentalsinc |title=United Rentals Makes Offer For Acquisition-Minded Rival – New York Times |work=The New York Times |date=April 6, 1999 |accessdate=November 11, 2011}}</ref> and began trading on the New York Stock Exchange.<ref name="fundinguniverse1" /> Jacobs stepped down from United Rentals in August 2007. In the 10 years that Jacobs led the company, United Rentals outperformed the S&P 500 Index by 2.2 times. It had become the 536th largest public corporation in America, as ranked by ''[[Fortune (magazine)|Fortune]]'' magazine,<ref>{{cite news|url=http://money.cnn.com/magazines/fortune/fortune500/2007/snapshots/1494.html |title=FORTUNE 500 2007: United Rentals |publisher=CNN |accessdate=November 11, 2011}}</ref> with $3.9 billion in revenue and 690 locations.<ref name="jpe" /> Jacobs had engineered approximately 500 acquisitions by this point in his career,<ref name="nytimes2003">{{cite news|url=https://www.nytimes.com/2003/09/30/business/chief-executive-plans-to-leave-united-rentals.html|title=Chief Executive Plans to Leave United Rentals – New York Times|date=September 30, 2003|work=The New York Times|accessdate=November 11, 2011}}</ref> including more than 250 for United Rentals.<ref name="rentalmanagementmag2" /><ref name="rermag3">{{cite web|author= |url=http://rermag.com/trends_analysis/headlinenews/jacobs_hoxie_plugge_rental_hall_fame/ |title=Jacobs, Hoxie and Plugge to be Inducted in Rental Hall of Fame |publisher=Rermag.com |date=October 31, 2008 |accessdate=November 11, 2011}}</ref> |
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⚫ | In 1984, Jacobs founded Hamilton Resources (UK) Ltd., an oil trading company,<ref name="forbes1999"/> using the bulk of his savings and a $1 billion line of credit from [[Banque Paribas]].<ref name="stamfordadvocate2005"/> |
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===XPO Logistics, Inc.=== |
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⚫ | On September 2, 2011, Jacobs completed an investment of about $150 million in Express-1 Expedited Solutions (trading at the time as AMEX: XPO), a third-party logistics and transportation service provider.<ref name="stamfordadvocate2005"/> He assumed the roles of chairman of the board and CEO,<ref name="dcvelocity">{{cite news|url=http://www.dcvelocity.com/articles/20110109thebigbetofbradjacobs |title=The big bet of Brad Jacobs |publisher=dcvelocity.com |accessdate=June 6, 2012 |date=January 9, 2012}}</ref><ref>{{cite news|author=A. Ananthalakshmi |url=https://www.reuters.com/article/2011/10/06/us-dealtalk-transport-jacobs-idUSTRE7955V620111006 |title=DealTalk: Brad Jacobs: a U.S. transport serial acquirer |publisher=Reuters |date=October 6, 2011 |accessdate=November 11, 2011}}</ref> gained ownership of approximately 71 percent of the company,<ref name=":1">{{Cite news|url=https://westfaironline.com/95872/xpo-logistics-fast-growth-acquisitions-management-style/|title=XPO Logistics: Fast growth through acquisitions and management style|last=Zimmerman|first=Kevin|date=2017-11-17|work=Westfair Communications|access-date=2017-12-27|language=en-US}}</ref> and renamed it [[XPO Logistics]]. Jacobs listed the company on the [[New York Stock Exchange]], retaining the ticker [[Ticker symbol|symbol]] "XPO".<ref>{{cite news|url=http://www.greenwichtime.com/news/article/Jacobs-has-big-plans-for-Express-1-expediter-3006886.php |title=Jacobs has big plans for Express-1 expediter |publisher=greenwichtime.com |date=February 7, 2012}}</ref> |
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⚫ | In 1979, at the age of 23, Jacobs co-founded Amerex Oil Associates Inc., an oil brokerage firm with offices in [[New Jersey]], [[Houston]], [[London]], and [[Tokyo]].<ref name="jpe"/><ref name="fundinguniverse1">{{cite web|url=http://www.fundinguniverse.com/company-histories/United-Rentals-Inc-Company-History.html |title=United Rentals, Inc. – Company History |publisher=Fundinguniverse.com |accessdate=November 11, 2011}}</ref><ref name="stamfordadvocate2005">{{cite web|url=http://www.stamfordadvocate.com/default/article/June-4-2005-Entrepreneur-tells-of-unknown-future-1373839.php |title=June 4, 2005 Entrepreneur tells of unknown future |publisher=StamfordAdvocate |date=May 10, 2011 |accessdate=November 11, 2011}}</ref> He served as |
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⚫ | In February 2012, Jacobs announced plans to grow XPO's revenue from $175 million to $5 billion within five years through [[Mergers and acquisitions|M&A]].<ref>{{Cite web|url=https://www.bloomberg.com/news/articles/2017-10-02/with-his-stock-up-330-a-serial-dealmaker-seeks-biggest-hit-yet|title=With His Stock Up 330%, a Serial Dealmaker Seeks Biggest Hit Yet|last=Black|first=Thomas|date=October 2, 2017|website=Bloomberg|archive-url=|archive-date=|dead-url=|access-date=}}</ref> By the end of 2016, he had spearheaded 17 acquisitions and turned XPO into a $15 billion company.<ref name=":0">{{Cite news|url=http://www.greenwichtime.com/business/article/Keep-on-trucking-Greenwich-s-XPO-Logistics-11652494.php|title=Keep on trucking: Greenwich's XPO Logistics sees no limit to growth|work=GreenwichTime|access-date=2017-10-19}}</ref> XPO reported revenue of $17.28 billion in 2018.<ref>{{Cite web|url=https://news.xpo.com/en-us/news/1910/xpo-logistics-announces-fourth-quarter-and-full-year-2018-results|title=XPO Newsroom - Q4 2018 and Full Year Results|website=news.xpo.com|access-date=2019-07-22}}</ref> |
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==Personal life== |
==Personal life== |
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Jacobs |
Jacobs is married to Lamia Jacobs, an oil trader originally from [[France]]; they have four children.<ref name="forbes1999"/><ref>{{Cite news|url=https://www.forbes.com/sites/antoinegara/2018/04/10/xpo-logistics-bradley-jacobs-billionaire/#2950fc7cca6c|title=Better Than Amazon? How Bradley Jacobs Turned A $63M Bet Into A $12 Billion Transportation Empire|last=Gara|first=Antoine|work=Forbes|access-date=2018-07-01|language=en}}</ref><ref>{{Cite web|first=Sean |last= Stewart-Muniz |authorlink= |title= Connecticut restaurateur mortgages Palm Beach mega-manse - Owner is also former oil trader |publisher=[[The Real Deal (magazine)|The Real Deal]]|date= August 5, 2015 |url= https://therealdeal.com/miami/2015/08/05/connecticut-restaurateur-mortgages-palm-beach-mega-manse/ |accessdate=}}</ref> |
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==Awards and recognition== |
==Awards and recognition== |
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In |
In March 2009, Jacobs was inducted into the American Rental Association's Hall of Fame.<ref name="rentalmanagementmag2"/><ref name="rermag3"/> He was named American Shipper's Person of the Year on November 25, 2015,<ref>{{cite web|url=http://www.americanshipper.com/Main/News/Person_of_the_Year_62241.aspx |title=Person of the Year |publisher=American Shipper |date=November 25, 2015 |accessdate=May 12, 2016}}</ref> and was listed among the Best CEOs of the 2016 All-America Executive Team one week later.<ref>{{cite web|url=http://www.iimosthonoredcompanies.com/2016_awards_editorial.pdf |title=The All-America Executive Team |publisher=Institutional Investor |date=December 2, 2015 |accessdate=May 12, 2016}}</ref> On December 11, 2017, Jacobs received the 2017 Connie Award from the Containerization and Intermodal Institute (CII).<ref>{{Cite news|url=https://www.ajot.com/news/brad-jacobs-ceo-xpo-logistics-honored-with-2017-connie-award-by-cii|title=Brad Jacobs, CEO, XPO Logistics Honored with 2017 Connie Award by CII|access-date=2017-12-27|language=en}}</ref> |
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Jacobs has been recognized in multiple readers' choice surveys by [[Glassdoor]] and [[Barron's (newspaper)|Barron's]]. In May 2018, he was ranked 10th on Barron's list of the World's Best CEOs,<ref>{{Cite news|url=https://www.barrons.com/articles/tell-us-your-pick-for-the-worlds-best-ceo-1525994184|title=The World's Best CEOs: Barron's Readers' Picks|access-date=2018-07-15|language=en-US}}</ref> while in June Jacobs was listed 7th on Glassdoor's Top CEOs of 2018 list in France,<ref>{{Cite web|url=https://www.glassdoor.fr/R%C3%A9compense/Le-Top-Des-PDG-France-LST_KQ0,21.htm|title=Le Top Des PDG France|website=Glassdoor|language=en|access-date=2018-07-15}}</ref> and 20th in the UK.<ref>{{Cite web|url=https://www.glassdoor.co.uk/Award/Top-CEOs-UK-LST_KQ0,11.htm|title=Top CEOs UK|website=Glassdoor|language=en|access-date=2018-07-15}}</ref> |
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==References== |
==References== |
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[[Category:American chief executives]] |
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[[Category:American financiers]] |
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[[Category:American Jews]] |
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[[Category:American investors]] |
[[Category:American investors]] |
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[[Category:American trucking industry businesspeople]] |
[[Category:American trucking industry businesspeople]] |
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[[Category:Businesspeople from |
[[Category:Businesspeople from Connecticut]] |
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[[Category:Businesspeople from Providence, Rhode Island]] |
[[Category:Businesspeople from Providence, Rhode Island]] |
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[[Category:1956 births]] |
[[Category:1956 births]] |
Revision as of 21:14, 28 February 2020
Bradley Jacobs | |
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Born | Providence, Rhode Island, U.S. | August 3, 1956
Alma mater | |
Occupation | Businessman |
Known for |
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Children | 4 |
Bradley “Brad” Jacobs (born August 3, 1956) is an American businessman and billionaire. He is the chairman and CEO of XPO Logistics, Inc.[2][3][4] and the managing director of Jacobs Private Equity, LLC.[5] Jacobs is best known for consolidating companies in the waste management, equipment rental, and transportation and logistics industries.[6] He has led approximately 500 acquisitions and 250 cold-starts over the course of his career,[5] and raised more than $25 billion in debt and equity financing.
Early life and education
Jacobs was born to a Jewish family in Providence, Rhode Island, the son of Charlotte Sybil (née Bander) and Albert Jordan Jacobs.[7][8] His father was a jewelry importer. He attended Northfield Mount Hermon School, Bennington College and Brown University, but dropped out of school in 1976 to broker oil contracts.[9]
Career
Amerex Oil Associates, Inc.
In 1979, at the age of 23, Jacobs co-founded Amerex Oil Associates Inc., an oil brokerage firm with offices in New Jersey, Houston, London, and Tokyo.[5][10][11] He served as its CEO until the firm was sold in 1983. In that time, the company's annual gross contract volume grew to approximately $4.7 billion.[5]
Hamilton Resources (UK) Ltd.
In 1984, Jacobs moved to London and founded Hamilton Resources (UK) Ltd., an oil trading company,[9] using the bulk of his savings and a $1 billion line of credit from Banque Paribas.[11] As chairman and chief operating officer, he grew the company to approximately $1 billion in annual revenue, before quitting the business in 1988 and moving back to the United States.[9]
United Waste Systems, Inc.
In July 1989, Jacobs founded United Waste Systems in Greenwich, Connecticut, planning to consolidate small garbage collectors that had overlapping routes in rural areas.[10] Jacobs served as chairman and CEO,[12] and in 1992 he took the company public on the NASDAQ. In August 1997, after the company had made more than 200 acquisitions,[13] Jacobs sold United Waste Systems to USA Waste Services Inc. (now known as Waste Management, Inc.) for $2.5 billion.[11][14][15] At the time of the sale, United Waste Systems was the fifth-largest solid waste management company in North America and its stock had outperformed the S&P 500 Index by 5.6 times since its IPO.[5][14][16]
United Rentals, Inc.
In September 1997, Jacobs formed United Rentals,[10][14] serving as the new company's chairman and CEO. As with United Waste, Jacobs planned to grow United Rentals through a rollup strategy, consolidating small equipment rental dealers across North America.[12][17][18] The company went public in December 1997,[19][20][21] and began trading on the New York Stock Exchange.[10] Jacobs stepped down from United Rentals in August 2007. In the 10 years that Jacobs led the company, United Rentals outperformed the S&P 500 Index by 2.2 times. It had become the 536th largest public corporation in America, as ranked by Fortune magazine,[22] with $3.9 billion in revenue and 690 locations.[5] Jacobs had engineered approximately 500 acquisitions by this point in his career,[23] including more than 250 for United Rentals.[20][24]
XPO Logistics, Inc.
On September 2, 2011, Jacobs completed an investment of about $150 million in Express-1 Expedited Solutions (trading at the time as AMEX: XPO), a third-party logistics and transportation service provider.[11] He assumed the roles of chairman of the board and CEO,[25][26] gained ownership of approximately 71 percent of the company,[13] and renamed it XPO Logistics. Jacobs listed the company on the New York Stock Exchange, retaining the ticker symbol "XPO".[27]
In February 2012, Jacobs announced plans to grow XPO's revenue from $175 million to $5 billion within five years through M&A.[28] By the end of 2016, he had spearheaded 17 acquisitions and turned XPO into a $15 billion company.[29] XPO reported revenue of $17.28 billion in 2018.[30]
Personal life
Jacobs is married to Lamia Jacobs, an oil trader originally from France; they have four children.[9][31][32]
Awards and recognition
In March 2009, Jacobs was inducted into the American Rental Association's Hall of Fame.[20][24] He was named American Shipper's Person of the Year on November 25, 2015,[33] and was listed among the Best CEOs of the 2016 All-America Executive Team one week later.[34] On December 11, 2017, Jacobs received the 2017 Connie Award from the Containerization and Intermodal Institute (CII).[35]
Jacobs has been recognized in multiple readers' choice surveys by Glassdoor and Barron's. In May 2018, he was ranked 10th on Barron's list of the World's Best CEOs,[36] while in June Jacobs was listed 7th on Glassdoor's Top CEOs of 2018 list in France,[37] and 20th in the UK.[38]
References
- ^ "#388 Bradley Jacobs". Forbes (magazine). Retrieved February 27, 2020.
- ^ Susie Gharib (July 5, 2017). "How to Deal With Doubters, According to One Fortune 500 CEO". Fortune.
- ^ Josh Kosman (August 16, 2017). "Overstock looking to gain advantage with potential 2-day delivery". New York Post.
- ^ Ryan, Lidia (March 6, 2018). "16 Connecticut residents make Forbes 2018 list of billionaires". GreenwichTime. Retrieved March 6, 2018.
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(help) - ^ a b c d e f "Jacobs Private Equity, LLC". Jacobs Private Equity. Retrieved August 20, 2016.
- ^ "Bradley Jacobs: The maestro of mergers". Forbes India. Retrieved July 22, 2019.
- ^ "Charlotte Sybil (Bander) Jacobs (1929–2013)". The Providence Journal. April 8, 2013.
- ^ "Albert Jordan Jacobs (1927–2018)". The Providence Journal. May 31, 2018.
- ^ a b c d "Near Misses". Forbes. October 11, 1999. Retrieved November 11, 2011.
- ^ a b c d "United Rentals, Inc. – Company History". Fundinguniverse.com. Retrieved November 11, 2011.
- ^ a b c d "June 4, 2005 Entrepreneur tells of unknown future". StamfordAdvocate. May 10, 2011. Retrieved November 11, 2011.
- ^ a b "October 1, 2003 United Rentals CEO Steps Down". StamfordAdvocate. May 10, 2011. Retrieved November 11, 2011.
- ^ a b Zimmerman, Kevin (November 17, 2017). "XPO Logistics: Fast growth through acquisitions and management style". Westfair Communications. Retrieved December 27, 2017.
- ^ a b c Silvia Sansoni (April 8, 1996). "The earth mover". Forbes. Retrieved November 11, 2011.
- ^ "The big bet of Brad Jacobs". DCVelocity. January 9, 2012. Retrieved May 12, 2016.
- ^ "Jacobs Private Equity". jpe.com. Retrieved July 22, 2019.
- ^ Brandey Chewning Smith, RER (November 1, 2003). "United Rental CEO". Rermag.com. Retrieved November 11, 2011.
- ^ Journal, Steven LipinStaff Reporter of The Wall Street (June 17, 1998). "United Rentals Business Bores Everyone Except Shareholders". Wall Street Journal. ISSN 0099-9660. Retrieved July 22, 2019.
- ^ Wall Street Journal, June 17, 1998, “United Rentals Business Bores All but Holders”
- ^ a b c Christine Coleman. "Hoxie, Jacobs and Plugge join the Rental Hall of Fame". Rentalmanagementmag.com. Retrieved November 11, 2011.
- ^ "United Rentals Makes Offer For Acquisition-Minded Rival – New York Times". The New York Times. April 6, 1999. Retrieved November 11, 2011.
- ^ "FORTUNE 500 2007: United Rentals". CNN. Retrieved November 11, 2011.
- ^ "Chief Executive Plans to Leave United Rentals – New York Times". The New York Times. September 30, 2003. Retrieved November 11, 2011.
- ^ a b "Jacobs, Hoxie and Plugge to be Inducted in Rental Hall of Fame". Rermag.com. October 31, 2008. Retrieved November 11, 2011.
- ^ "The big bet of Brad Jacobs". dcvelocity.com. January 9, 2012. Retrieved June 6, 2012.
- ^ A. Ananthalakshmi (October 6, 2011). "DealTalk: Brad Jacobs: a U.S. transport serial acquirer". Reuters. Retrieved November 11, 2011.
- ^ "Jacobs has big plans for Express-1 expediter". greenwichtime.com. February 7, 2012.
- ^ Black, Thomas (October 2, 2017). "With His Stock Up 330%, a Serial Dealmaker Seeks Biggest Hit Yet". Bloomberg.
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(help) - ^ "Keep on trucking: Greenwich's XPO Logistics sees no limit to growth". GreenwichTime. Retrieved October 19, 2017.
- ^ "XPO Newsroom - Q4 2018 and Full Year Results". news.xpo.com. Retrieved July 22, 2019.
- ^ Gara, Antoine. "Better Than Amazon? How Bradley Jacobs Turned A $63M Bet Into A $12 Billion Transportation Empire". Forbes. Retrieved July 1, 2018.
- ^ Stewart-Muniz, Sean (August 5, 2015). "Connecticut restaurateur mortgages Palm Beach mega-manse - Owner is also former oil trader". The Real Deal.
- ^ "Person of the Year". American Shipper. November 25, 2015. Retrieved May 12, 2016.
- ^ "The All-America Executive Team" (PDF). Institutional Investor. December 2, 2015. Retrieved May 12, 2016.
- ^ "Brad Jacobs, CEO, XPO Logistics Honored with 2017 Connie Award by CII". Retrieved December 27, 2017.
- ^ "The World's Best CEOs: Barron's Readers' Picks". Retrieved July 15, 2018.
- ^ "Le Top Des PDG France". Glassdoor. Retrieved July 15, 2018.
- ^ "Top CEOs UK". Glassdoor. Retrieved July 15, 2018.