Bradley S. Jacobs
| Bradley Jacobs | |
|---|---|
| Born |
August 3, 1956 Providence, Rhode Island, U.S. |
| Residence | Greenwich, Connecticut, U.S. |
| Alma mater | |
| Occupation | CEO |
| Known for |
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Bradley “Brad” Jacobs (born August 3, 1956) is an American businessman. He is the chairman and chief executive officer of XPO Logistics, Inc. and managing director of Jacobs Private Equity, LLC. Jacobs is best known for having led rapid industry consolidations in waste management and equipment rental in North America, and in global transportation and logistics. He's spearheaded approximately 500 acquisitions and another 250 cold-starts over the course of his career, raising over $20 billion in capital, including more than $14 billion for XPO. In April 2017, the Bloomberg Billionaires Index estimated Jacobs' net worth at over $1.4 billion.
Jacobs was born in Providence, Rhode Island. His father was a jewelry importer. He attended Northfield Mount Hermon School, Bennington College and Brown University in the 1970s, but dropped out to broker oil contracts.
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, and 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.
In 1984, Jacobs went to England and founded Hamilton Resources (UK) Ltd., an oil trading company, using the bulk of his savings and a $1 billion line of credit from Banque Paribas. 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.
In July 1989, Jacobs founded United Waste Systems in Greenwich, Connecticut, planning to consolidate small garbage collectors that had overlapping routes in rural areas. Jacobs served as chairman and CEO, and in 1992 he took the company public on the NASDAQ Stock Market. In August 1997, after the company had made 200 acquisitions, Jacobs sold United Waste Systems to USA Waste Services Inc. (now known as Waste Management, Inc.) for $2.5 billion. At the time of sale, United Waste Systems was the fifth-largest solid waste management company in North America, outperforming the S&P 500 Index 5.6 times over and delivering a 55% compound annual rate of return from its initial public offering to its sale to USA Waste Services.
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