Jacobs' best business deal was buying Conway (a trucking company) in 2015 for ~$3 billion (half equity), which he later transformed into a multi-faceted holding worth ~$15 billion, generating a 15-20x return on invested capital (a 'bagger') by applying mathematical thinking to identify organizational dysfunction and musical improvisation to pivot from the original plan.

factualpending

Speaker

Brad Jacobs

Evidence Quote

I bought in 2015... Con-way... for about $3 billion... Today, it's worth something like $15 billion... it's been a... 20 bagger or 15 bagger... a huge, huge return on invested capital.

Source

The Lessons Behind How To Make a Few Billion DollarsThe Knowledge Project Podcast
Created: 8/12/2026, 6:08:10 PM

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