XPO Founder Jacobs Readies $1 Billion Acquisition Vehicle
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Brad Jacobs, the billionaire who founded XPO Logistics Inc., is creating a publicly listed company designed for multiple acquisitions and funded with $1 billion, mostly from Jacobs himself.
Jacobs has not yet said into what industry he plans to expand after starting five companies, including United Rentals Inc. and one snapped up by Waste Management Inc. in 1997. His most recent venture started with a $150 million purchase of a truck brokerage in 2011 and he built it into XPO and two recent spinoffs, which together have sales of about $20 billion.