Mitchell Jacobson – Billionaire

In 1976, Mitchell Jacobson began working for MSC Direct, an office and industrial equipment distributor his father Sidney had founded back in 1941. . Shortly after Sidney founded the firm, he became concerned that just two customers made up 90% of his business, so he turned to catalog sales to expand the client base. In 1995, Mitchell took over as CEO of the Melville, N.Y.-based firm, which distributes goods worldwide. He held the top job through 2005 and is now the largest shareholder of the company, which distributes hundreds of products, from staplers to air conditioners.

Mitchell Jacobson Net Worth: Mitchell Jacobson is an American businessman who has a net worth of $1.1 billion. Mitchell Jacobson has accumulated his riches through the Melville, N.Y.-based MSC Industrial Direct, one of the largest distributors of office and industrial equipment worldwide. Today, he serves as the chairman of the group, which was set up in 1941 by his father Sidney Jacobson as “Sid Tool, Inc.”. At the time, the company was mainly selling cutting tools and accessories to New York City machine shops, whereas today, the company operates from four regional distribution centers and 95 branch offices. With sales of $2.4 billion, the company makes the most, if not the entire Mitchell’s net worth. The day-to-day management of MSC Industrial Direct is now in the hands of Mitchell Jacobson’s only son, who serves as the president and CEO, and also is the company’s largest shareholder.