Bradley S. Jacobs

Bradley “Brad” Jacobs (born August 3, 1956 in Providence, Rhode Island) is an American businessman. He is the chairman and chief executive officer of XPO Logistics, Inc.[2][3][4] and the managing director of Jacobs Private Equity, LLC.[5]

Bradley Jacobs
Born (1956-08-03) August 3, 1956
Providence, Rhode Island, U.S.
Alma mater
OccupationBusinessman
Known for
Net worth$2.1 billion (May 2020)[1]

Early life and education

Jacobs was born in Providence, Rhode Island. He attended Northfield Mount Hermon School, Bennington College, and Brown University.[6]

Career

Jacobs has founded five billion-dollar or multi-billion-dollar corporations, including three publicly traded companies - XPO Logistics, United Rentals, and United Waste Systems – whose share prices rose more than 1,000% after he took control.[7][8]

Over the course of his career, Jacobs has completed approximately 500 acquisitions and 250 greenfield openings, and raised more than $25 billion in debt and equity capital financing, including two IPOs.[9] Jacobs was #388 on the Forbes 400 list, with a net worth of $2.1 billion as of May 2020.[5]

Amerex Oil Associates, Inc.

In 1979, 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 Amerex's chief executive officer until the firm was sold in 1983. During that time, the company's annual gross contract volume had grown to approximately $4.7 billion.[5]

Hamilton Resources Ltd.

In 1984, Jacobs moved to London and founded Hamilton Resources (UK) Ltd., an oil trading company.[6] In founding the company, Jacobs had used the bulk of his savings and a $1 billion line of credit from Banque Paribas.[11] He grew Hamilton to approximately $1 billion in annual revenue.[6]

United Waste Systems, Inc.

In 1989, Jacobs founded United Waste Systems in Greenwich, Connecticut, and began consolidating small garbage collectors that had overlapping routes in rural areas.[10] Jacobs served as chairman and chief executive officer,[12] and in 1992 he took the company public. 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] When it was sold, 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 chief executive officer. Jacobs grew United Rentals through a strategy of consolidating equipment rental dealers in North America.[12][17][18] Jacobs formed the company in September 1997 and went public three months later (NYSE: URI).[19][20][10] In the 10 years that Jacobs led the company (1997-2007), he led more than 250 acquisitions and United Rentals outperformed the S&P 500 Index by 2.2 times.[21][22][23] In 2007, Fortune Magazine ranked United Rentals as the 536th largest public corporation in America, with $3.9 billion in revenue and 690 locations.[24][5]

XPO Logistics, Inc.

In 2011, Jacobs invested approximately $150 million in Express-1 Expedited Solutions, a third-party logistics and transportation service provider trading at the time as AMEX:XPO.[11] He assumed the roles of chairman of the board and chief executive officer,[25][26] gained ownership of approximately 71 percent of the company,[13] and renamed it XPO Logistics.[27] Jacobs listed the company on the New York Stock Exchange, retaining the ticker symbol (NYSE:XPO).[28]

In February 2012, Jacobs announced plans to grow XPO's revenue from $175 million to $5 billion within five years through M&A.[29] By the end of 2016, he had spearheaded 17 acquisitions and turned XPO into a $15 billion global company.[30] XPO reported revenue of $16.65 billion in 2019.[31]

In May 2018, he was ranked 10th on Barron's list of the World's Best CEOs,[32] while in June Jacobs was listed 7th on Glassdoor's Top CEOs of 2018 list in France,[33] and 20th in the UK.[34]

Personal life

Jacobs and his wife currently reside in Greenwich, Connecticut.[6][35]

gollark: Somewhat modular isn't, but that... never really happened.
gollark: Eh, entirely modular is impractical.
gollark: I would, but they're quite expensive.
gollark: Sorry, transient network bees.
gollark: It's *technically possible* to make somewhat repairable phones, it's just... unfortunately not something the majority of users care about, so it's mostly confined to niche products like pinephones and fairphones.

References
  1. "Bradley Jacobs". Forbes. Retrieved May 22, 2020.
  2. Susie Gharib (July 5, 2017). "How to Deal With Doubters, According to One Fortune 500 CEO". Fortune.
  3. Josh Kosman (August 16, 2017). "Overstock looking to gain advantage with potential 2-day delivery". New York Post.
  4. Ryan, Lidia (March 6, 2018). "16 Connecticut residents make Forbes 2018 list of billionaires". GreenwichTime. Retrieved March 6, 2018.
  5. "Jacobs Private Equity, LLC". Jacobs Private Equity. Retrieved August 20, 2016.
  6. "Near Misses". Forbes. October 11, 1999. Retrieved November 11, 2011.
  7. "Bradley Jacobs: The maestro of mergers". Forbes India. Retrieved July 22, 2019.
  8. "Where Will XPO Logistics Be In 1 Year?". The Motley Fool. Retrieved July 22, 2019.
  9. Smith, Jennifer. "Bradley Jacobs Has Acquired More Than 500 Companies. Here's What He Has Learned". Forbes. Retrieved July 1, 2019.
  10. "United Rentals, Inc. – Company History". Fundinguniverse.com. Retrieved November 11, 2011.
  11. "June 4, 2005 Entrepreneur tells of unknown future". StamfordAdvocate. May 10, 2011. Retrieved November 11, 2011.
  12. "October 1, 2003 United Rentals CEO Steps Down". StamfordAdvocate. May 10, 2011. Retrieved November 11, 2011.
  13. Zimmerman, Kevin (November 17, 2017). "XPO Logistics: Fast growth through acquisitions and management style". Westfair Communications. Retrieved December 27, 2017.
  14. Silvia Sansoni (April 8, 1996). "The earth mover". Forbes. Retrieved November 11, 2011.
  15. "The big bet of Brad Jacobs". DCVelocity. January 9, 2012. Retrieved May 12, 2016.
  16. "Jacobs Private Equity". jpe.com. Retrieved July 22, 2019.
  17. Brandey Chewning Smith, RER (November 1, 2003). "United Rental CEO". Rermag.com. Retrieved November 11, 2011.
  18. Wall Street Journal, June 17, 1998, “United Rentals Business Bores All but Holders”
  19. Lipin, Steven (June 17, 1998). "United Rentals Business Bores Everyone Except Shareholders". Wall Street Journal. Retrieved May 22, 2020.
  20. "United Rentals Makes Offer For Acquisition-Minded Rival – New York Times". The New York Times. April 6, 1999. Retrieved November 11, 2011.
  21. Christine Coleman. "Hoxie, Jacobs and Plugge join the Rental Hall of Fame". rermag.com. Retrieved November 11, 2011.
  22. "Jacobs, Hoxie and Plugge to be Inducted in Rental Hall of Fame". Rermag.com. October 31, 2008. Retrieved November 11, 2011.
  23. "Chief Executive Plans to Leave United Rentals – New York Times". The New York Times. September 30, 2003. Retrieved November 11, 2011.
  24. "FORTUNE 500 2007: United Rentals". CNN. Retrieved November 11, 2011.
  25. "The big bet of Brad Jacobs". dcvelocity.com. January 9, 2012. Retrieved June 6, 2012.
  26. A. Ananthalakshmi (October 6, 2011). "DealTalk: Brad Jacobs: a U.S. transport serial acquirer". Reuters. Retrieved November 11, 2011.
  27. Jones, Del. "XPO Logistics CEO Brad Jacobs Centers His Strategy Around Tech". Forbes. Retrieved July 1, 2019.
  28. "Jacobs has big plans for Express-1 expediter". greenwichtime.com. February 7, 2012.
  29. Black, Thomas (October 2, 2017). "With His Stock Up 330%, a Serial Dealmaker Seeks Biggest Hit Yet". Bloomberg.
  30. "Keep on trucking: Greenwich's XPO Logistics sees no limit to growth". GreenwichTime. Retrieved October 19, 2017.
  31. "XPO Newsroom - Q4 2018 and Full Year Results". news.xpo.com. Retrieved July 22, 2019.
  32. "The World's Best CEOs: Barron's Readers' Picks". Retrieved July 15, 2018.
  33. "Le Top Des PDG France". Glassdoor. Retrieved July 15, 2018.
  34. "Top CEOs UK". Glassdoor. Retrieved July 15, 2018.
  35. Gara, Antoine. "Better Than Amazon? How Bradley Jacobs Turned A $63M Bet Into A $12 Billion Transportation Empire". Forbes. Retrieved July 1, 2018.
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