Pursuits
Billionaire Jacobson Emerges With Power Saws as MSC Rises
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Increased demand for light bulbs and power tools has made a billionaire of Mitchell Jacobson, the chairman of MSC Industrial Direct Co., the world’s third-largest provider of office and industrial equipment.
The Melville, N.Y.-based company’s shares are up 14 percent this year and reached a record last week. The surge has pushed the 61-year-old’s net worth to $1.3 billion, according to the Bloomberg Billionaires Index. Jacobson, the company’s largest shareholder, has never appeared on an international wealth ranking.