QXO CEO Brad Jacobs to Lead $1 Billion Investment in CKX Lands While Staying at QXO
QXO Chairman and Chief Executive Brad Jacobs is starting a new company, leading a $1 billion cash investment in a small listed land company, while keeping his top jobs at QXO, according to a call transcript QXO filed in an 8-K on Monday.
Jacobs said his family office, Jacobs Private Equity, and a group of minority co-investors agreed to invest in CKX Lands, which trades on the NYSE American. The investment is expected to include $900 million from Jacobs and $100 million from co-investors led by Heritage Partners, formerly Sequoia Heritage.
On closing, Jacobs said he will own a majority stake in CKX and become its chairman and CEO "while continuing to serve as chairman and CEO of QXO."
What CKX becomes
CKX currently earns revenue from oil and gas royalty interests and mineral leases on its land, plus timber sales and surface rents. Jacobs said the industry for the new venture "is still to be determined," and that CKX will operate under a new name as a standalone public company after the deal closes.
The proposed transaction would give CKX's existing stockholders an upfront cash payment of $20.8 million while letting them keep the value of the existing business, Jacobs said. Completion requires closing conditions including CKX stockholder approval.
Commitment to QXO
Jacobs, who called CKX the ninth company he has started, said he concluded his chairmanships of XPO, GXO and RXO last year, which gave him capacity for the new venture.
"I want to emphasize that I remain intensely committed to QXO," he said on the call, which also covered QXO's pre-released third-quarter results.
By the numbers
- Total investment: $1 billion in cash
- From Jacobs: $900 million
- From co-investors: $100 million
- Upfront cash to existing CKX holders: $20.8 million
Sources
- Form 8-K (Item 7.01) with Exhibit 99.1 conference call transcript, QXO, Inc., filed Nov. 9, 2026, accession 0000950142-26-002986
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