Brad Jacobs is a serial entrepreneur who has founded and led eight companies, each of which he grew into billion-dollar or multibillion-dollar enterprises. Over his career, he has completed approximately 500 mergers and acquisitions and raised more than $50 billion in debt and equity capital, including three IPOs. His public-company track record includes United Waste, United Rentals and XPO, along with XPO spin-offs GXO Logistics and RXO.
Over the past year, QXO acquired Beacon Roofing Supply for $11 billion, making it the largest publicly traded distributor of roofing, waterproofing and complementary building products in North America. The company has also raised more than $15 billion in institutional capital over the last 18 months.
Looking ahead, Jacobs said QXO is applying company-wide purchasing, data-driven pricing, demand forecasting and supply chain efficiencies to pursue growth in the $800 billion building products distribution sector.
What qualities are most essential for effective leadership today?
Setting big goals that might seem out of reach can help people achieve extraordinary results beyond what people initially think is possible.
Treating problems as opportunities helps teams stay motivated and encourages people to solve issues head-on.
Identifying major industry trends is critical. Right now, technology is the overarching trend shaping most industries, including ours at QXO. Organizations that use technology to enhance how they run their business are more likely to come out ahead in the long run.
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What do you value most about living or doing business in Connecticut?
Connecticut is a great place to live and run a business.
It’s conveniently located, close to New York, not that far from Boston, and gives us access to top talent and customers. The state has treated me well, and that’s why I keep starting companies located here.
What is one change that would make Connecticut more competitive economically?
More competitive tax rates would help Connecticut attract and retain businesses.
Book recommendation: You mean apart from my own? (“How to Make a Few Billion Dollars” and “How to Make a Few More Billion Dollars”)
Go-to news media outlets: The Wall Street Journal, Financial Times, Bloomberg, Reuters and of course, the Hartford Business Journal
Hobby or leisure activity: My work! I work seven days a week and I love every minute of it. For anyone who is suited for it, I highly recommend a job that can double as a hobby.
Favorite podcast: “Lex Fridman Podcast,” “Founders,” “Invest Like the Best” and “The Knowledge Project Podcast”