A playbook, a billionaire, and an LBM mystery
NEW YORK — It wasn’t your typical lumber and building materials gathering.
But the event did take place on what might be considered an average day of winter in the Northeast.
As steady snow fell in the suburbs of Manhattan, the city itself was treated to a nasty mixture of snow and freezing rain among other damp elements.
This author had taken the Metro North commuter train line that travels alongside the Hudson River hundreds of times if not more. On a typcial day, it’s one of the most scenic rides in the nation. But on this particular day in January, it felt as if I was on my way to the underworld of Helheime for a meeting with Hela as a mixture of snow and fog obscured one’s view.
But a couple of hundred people fought the elements and made their way to the Rainbow Room at Rockefeller Center to meet billionaire Brad Jacobs. Some arrived in suits, and some decided on snowboots.
They all stood in line for a face-to-face meeting with Jacobs – a line that ran out the door of the scenic venue and down the hall to the elevator banks.
Jacobs was there to celebrate the release of his new book, “How to Make a Few Billion Dollars.”
Colleagues, investors, analysts, hedge fund managers, employees, and at least one LBM editor were there to discuss Jacob’s success and the book. There was a catch, however. While Jacobs was more than willing to happily chat it up with guests, he didn’t shake hands. Rather, Jacobs prefers to greet people with a fist bump.
Along LBM lines, the entrepreneur and investor put a charge into the ranks when he announced the formation of QXO last month. According to Jacobs, QXO promises to be an industry powerhouse and consolidator in the building materials distribution sector.
When I had to opportunity to receive a fist bump from Jacobs, his cards were held close to his chest concerning the new building materials company. “We’ll see, but we are not ready to make an announcement yet,” Jacobs told me.
Speculation has ranged from building materials to lumber, to electrical, to commercial construction products when it comes to the exact window QXO chooses for making its entrance into the field. For now, the actual emergence of the $1 billion company — with promises from Jacobs that the organization will quickly become a $5 billion company — will have to wait.
During his career, Jacobs has created seven companies including five that were publicly traded.
And he’s not a novice to the LBM industry. In 1997, Jacobs founded United Rentals: the world’s largest equipment rental company, offering products to construction and industrial companies, utilities, municipalities, and homeowners.
But the centerpiece of the evening’s festivities was Jacob’s book; a manual for many walks of life — family, friends, business, decision-making, interacting with others, and practicing patience.
Fox Business television personality and host of the “Claman Countdown," Liz Claman had the honor of introducing Jacobs in front of a nine-piece band that provided a steady, mellow groove of soul and R&B hits through the evening.
Claman, who recently interviewed Jacobs on her show, and noted she had a sense of jealousy toward the business leader’s success, said the publication is an opportunity to “Open Brad Jacobs’ playbook.”
When the mike was presented to Jacobs, he joked that “the book took a lot of work” and he might have thought otherwise if he realized just how much effort was involved.
The business leader then took the time to thank the investors and employees who have helped him reach the peak, along with the love and support of his family.
As I made the rounds and discussed what was on the horizon for QXO and where it might penetrate the market, not a single attendee had an answer to share. The mystery remains.
“We’ll have to wait and see,” Joe Checkler, head of communications for Jacobs Private Equity, LLC, told me.
And the wait is on for the true awakening of a billion-dollar giant.
