Brad Jacobs (born August 3, 1956) is an American businessman who serves as chairman and CEO of QXO, Inc. In addition, he is executive chairman of XPO, Inc., and non-executive chairman of GXO Logistics, Inc., a spin-off company from XPO.

Career

Jacobs has created eight corporations, six of which are publicly traded: QXO (2024); XPO (2011) and its spin-offs, GXO Logistics (2021) and RXO (2022);

United Rentals United Rentals, Inc. is an American equipment rental company, with about 16 percent of the North American market share as of 2022. It owns the largest rental fleet in the world with approximately 4,700 classes of equipment totaling about $19.3 bi ...

(1997); and United Waste Systems, now

Waste Management Waste management or waste disposal includes the processes and actions required to manage waste from its inception to its final disposal. This includes the collection, transport, treatment, and disposal of waste, together with monitor ...

(1989). Jacobs has completed around 500 M&A transactions. In 1979, Jacobs co-founded Amerex Oil Associates, an oil brokerage firm. Jacobs was the company's CEO until it was sold in 1983. In 1984, Jacobs moved to London and founded Hamilton Resources, where he conducted oil trading deals. Jacobs has frequently recognized Ludwig Jesselson as an influential mentor. In 1989, Jacobs founded United Waste Systems in

Greenwich, Connecticut Greenwich ( ) is a New England town, town in southwestern Fairfield County, Connecticut, United States. As of the 2020 United States census, 2020 census, it had a population of 63,518. It is the largest town on Gold Coast (Connecticut), Connectic ...

, and began consolidating small waste collection companies that had overlapping routes in rural areas. Jacobs was chairman and chief executive officer, and in 1992 he took the company public. Jacobs sold United Waste Systems to USA Waste Services for $2.5 billion in August 1997. In September 1997, Jacobs formed United Rentals, and became the new company's chairman and chief executive officer. During late 1997 and early 1998, Jacobs grew the company through a strategy of consolidating equipment rental dealers in North America. He took the company public in December 1997 on the New York Stock Exchange. In 2011, Jacobs invested approximately $150 million in XPO (then named ''Express-1 Expedited Solutions''), a transportation and third-party logistics provider. He became chairman of the board and CEO and gained ownership of approximately 71 percent of the company. The company was later listed on the New York Stock Exchange under the ticker symbol XPO. In August 2021, XPO completed its spin-off of GXO Logistics, and Jacobs became non-executive chairman of GXO's board of directors. In August 2022, Jacobs announced plans to step aside as CEO of XPO but remain executive chairman. In 2024, he published his book ''How to Make a Few Billion Dollars''. In June 2024, Jacobs founded QXO with the intention to consolidate the $800 billion building products distribution industry. With the launch, he raised over $5 billion in equity, including what Bloomberg described as the largest equity offering ever in the building products sector and the largest ever private investment in public equity (PIPE) for an industrial company.

Bibliography

* ''How to Make a Few Billion Dollars''. Austin: Greenleaf Book Group Press, 2024.

Personal life

Jacobs was born in

Providence, Rhode Island Providence () is the List of capitals in the United States, capital and List of municipalities in Rhode Island, most populous city of the U.S. state of Rhode Island. The county seat of Providence County, Rhode Island, Providence County, it is o ...

, the son of Charlotte Sybil (née Bander) and Albert Jordan Jacobs. His father was a fashion jewelry importer. He graduated from

Northfield Mount Hermon School Northfield Mount Hermon School (abbreviated as NMH), is a co-educational college-preparatory school in Gill, Massachusetts. It educates boarding and day students in grades 9–12, as well as post-graduate students. It is a member of the Eight ...

and then went on to attend

Bennington College Bennington College is a private liberal arts college in Bennington, Vermont, United States. Founded as a women’s college in 1932,

and

Brown University Brown University is a Private university, private Ivy League research university in Providence, Rhode Island, United States. It is the List of colonial colleges, seventh-oldest institution of higher education in the US, founded in 1764 as the ' ...

and studied math and music; however, he dropped out in 1976. Jacobs and his wife live in

. They have four children. Jacobs is an art collector with works by

Picasso Pablo Diego José Francisco de Paula Juan Nepomuceno María de los Remedios Cipriano de la Santísima Trinidad Ruiz y Picasso (25 October 1881 – 8 April 1973) was a Spanish painter, sculptor, printmaker, Ceramic art, ceramicist, and Scenic ...

, de Kooning, Calder, Lichtenstein and others.

References

{{DEFAULTSORT:Jacobs, Brad 20th-century American businesspeople 21st-century American businesspeople American billionaires American chief executives American trucking industry businesspeople Bennington College alumni Brown University alumni Businesspeople from Providence, Rhode Island Northfield Mount Hermon School alumni 1956 births Living people