Brad Jacobs
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| Brad Jacobs | |
|---|---|
| Born | August 3, 1956 Providence, Rhode Island, U.S. |
| 🏫 Education | Northfield Mount Hermon School |
| 🎓 Alma mater | Bennington College Brown University |
| 💼 Occupation | Businessman |
| Known for | |
Bradley "Brad" Jacobs (born August 3, 1956 in Providence, Rhode Island) is an American businessman.[1][2] He is executive chairman of XPO Logistics, Inc.,[3][4] non-executive chairman of GXO Logistics,[5] non-executive chairman of RXO,[6] and managing director of Jacobs Private Equity, LLC.[7][8]
Early life and education[edit]
Jacobs was born in Providence, Rhode Island. He attended Northfield Mount Hermon School, Bennington College and Brown University.[9]
Career[edit]
Jacobs has created seven corporations, five of which are publicly traded: XPO Logistics and its spin-offs, GXO Logistics in 2021 and RXO in 2022; United Rentals; and United Waste Systems.[5][10][11]
In 1979, Jacobs co-founded Amerex Oil Associates Inc., an oil brokerage firm.[12] He served as Amerex's chief executive officer until the firm was sold in 1983.[8]
In 1984, Jacobs moved to London and founded Hamilton Resources Ltd., an oil trading company.[9]
In 1989, Jacobs founded United Waste Systems in Greenwich, Connecticut, and began consolidating small waste collection companies that had overlapping routes in rural areas. Jacobs served as chairman and chief executive officer, and in 1992 he took the company public.[13][14] Jacobs sold United Waste Systems to USA Waste Services Inc. (now Waste Management, Inc.) for $2.5 billion.[15][16]
In September 1997, Jacobs formed United Rentals, serving as the new company's chairman and chief executive officer.[13] He took the company public three months later on the New York Stock Exchange with the ticker symbol URI.[17] Jacobs grew United Rentals through a strategy of consolidating equipment rental dealers in North America.[18]
In 2011, Jacobs invested approximately $150 million in Express-1 Expedited Solutions, a third-party provider of transportation and logistics services that traded at the time on the American Stock Exchange as XPO.[12] He assumed the roles of chairman of the board and chief executive officer,[19][20] gained ownership of approximately 71 percent of the company,[21] and renamed it XPO Logistics.[22] Subsequently, Jacobs listed the company on the New York Stock Exchange, retaining the ticker symbol XPO.[23]
In August 2021, XPO completed its spin-off of GXO Logistics, and Jacobs became non-executive chairman of GXO's board of directors.[24] In November 2022, XPO completed its spin-off of RXO, and Jacobs became non-executive chairman of RXO's board of directors.[6][25][26] In August 2022, Jacobs announced plans to step aside as CEO of XPO Logistics but remain executive chairman.[27]
Personal life[edit]
Jacobs and his wife live in Greenwich, Connecticut.[28]
References[edit]
- ↑ Black, Thomas (October 17, 2022). "Brad Jacobs Is on the Hunt. Investors Should Pay Attention". Bloomberg. Retrieved December 19, 2022. Unknown parameter
|url-status=ignored (help) - ↑ Lublin, Joann (November 27, 2022). "XPO's Billionaire Chairman Brad Jacobs Is Hunting for His Next Big Deal". TIME. Retrieved December 19, 2022. Unknown parameter
|url-status=ignored (help) - ↑ Walker, Karen (October 5, 2022). "Brad Jacobs: A Playbook For Creating Massive Shareholder Value". Forbes. Retrieved October 13, 2022. Unknown parameter
|url-status=ignored (help) - ↑ Wahba, Phil (July 8, 2022). "XPO's CEO thinks self-driving trucks are coming—just not anytime soon". Fortune. Retrieved July 13, 2022.
- ↑ 5.0 5.1 Cassidy, William (September 3, 2021). "After 10 years, XPO still surprises". William B. Cassidy (JOC). Archived from the original on September 3, 2021. Retrieved September 9, 2021. Unknown parameter
|url-status=ignored (help) - ↑ 6.0 6.1 O'Neal, Lydia (March 8, 2022). "XPO Logistics to Spin Off Freight Brokerage, Exit Intermodal and Europe Business". Wall Street Journal. Retrieved August 3, 2022. Unknown parameter
|url-status=ignored (help) - ↑ Cassidy, William (October 13, 2022). "Next Big Thing". Retrieved October 13, 2022. Unknown parameter
|url-status=ignored (help) - ↑ 8.0 8.1 "Jacobs Private Equity, LLC". Jacobs Private Equity. Retrieved August 20, 2016.
- ↑ 9.0 9.1 "Near Misses". Forbes. October 11, 1999. Retrieved November 11, 2011.
- ↑ "Bradley Jacobs: The maestro of mergers". Forbes India. Retrieved 2019-07-22.
- ↑ "Where Will XPO Logistics Be In 1 Year?". The Motley Fool. Retrieved 2019-07-22.
- ↑ 12.0 12.1 "June 4, 2005 Entrepreneur tells of unknown future". StamfordAdvocate. May 10, 2011. Retrieved November 11, 2011.
- ↑ 13.0 13.1 "United Rentals, Inc. – Company History". Fundinguniverse.com. Retrieved November 11, 2011.
- ↑ "October 1, 2003 United Rentals CEO Steps Down". StamfordAdvocate. May 10, 2011. Retrieved November 11, 2011.
- ↑ 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.
- ↑ "United Rentals Makes Offer For Acquisition-Minded Rival – New York Times". The New York Times. April 6, 1999. Retrieved November 11, 2011.
- ↑ Lipin, Steven (June 17, 1998). "United Rentals Business Bores Everyone Except Shareholders". Wall Street Journal. Retrieved May 22, 2020.
- ↑ "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. Archived from the original on November 9, 2011. Retrieved November 11, 2011. Unknown parameter
|url-status=ignored (help) - ↑ Zimmerman, Kevin (2017-11-17). "XPO Logistics: Fast growth through acquisitions and management style". Westfair Communications. Retrieved 2017-12-27.
- ↑ Jones, Del. "XPO Logistics CEO Brad Jacobs Centers His Strategy Around Tech". Forbes. Retrieved 2019-07-01.
- ↑ "Jacobs has big plans for Express-1 expediter". greenwichtime.com. February 7, 2012.
- ↑ "3 Things You Should Know About XPO Logistics' New Spinoff". seattlecommunitymedia.org. Retrieved 2021-09-01.
- ↑ O'Neal, Lydia (May 9, 2022). "XPO Logistics Names CEO for New Freight Spinoff". Wall Street Journal. Retrieved August 3, 2022. Unknown parameter
|url-status=ignored (help) - ↑ Northington, Laurie (June 9, 2022). "XPO Taps Yoav Amiel as Chief Information Officer for Spin-Off". Home Furnishings Business. Retrieved August 3, 2022. Unknown parameter
|url-status=ignored (help) - ↑ Young, Liz (August 4, 2022). "Brad Jacobs Will Step Aside as CEO of XPO Logistics". Wall Street Journal. Retrieved August 8, 2022. Unknown parameter
|url-status=ignored (help) - ↑ Gara, Antoine (April 10, 2018). "Better Than Amazon? How Bradley Jacobs Turned A $63M Bet Into A $12 Billion Transportation Empire". Forbes (magazine). Retrieved 2018-07-01.
He read up on oil brokers and then cold-called his way into the business, enlisting the legendary Ludwig Jesselson, head of commodity house Phillip Brothers, as a mentor.
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