What was Irwin Jacobs’ net worth before he died?

Irwin L. Jacobs
Multimillionaire businessman Irwin Jacobs found dead with his wife Alexandra. Pic credit: YouTube (screenshot)

Police found Twin Cities multimillionaire investor Irwin Jacobs and his wife Alexandra dead in an apparent murder-suicide at their $22 million Lake Minnetonka, Minnesota mansion on 1700 Shoreline Drive at about 8:30 a.m. on Wednesday.

Dennis Mathisen, a close friend of the couple, told Minneapolis Star Tribune that Irwin, 77, appeared to have shot and killed his wife before turning the gun on himself. Their bodies were reportedly found on a bed next to a handgun.

Following reports of the deaths of Irwin and his wife, there has been speculation about the circumstances of the deaths.

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Irwin L. Jacobs, 77, was a multimillionaire investor who made huge profits from short-term stock trades. He was part owner of the Minnesota Vikings in the ’80s and was known for his wide-ranging investments.

He owned Jacobs Trading Co. which specialized in liquidating merchandise. He also owned boat maker Genmar Holdings Co., and soap and household products maker J.R. Watkins Co.

He acquired stakes in companies as diverse as Kaiser Steel and Grain Belt Breweries in the ’70s.

Irwin made huge profits and became rich in the ’70s and ’80s by buying and selling failing companies.

He earned a reputation as a corporate raider and was nicknamed Irv the Liquidator after several publicized cases in which he acquired huge stakes in Fortune 500 conglomerates, broke them up and made huge profits by selling the shares to the highest bidders.

His wife Alexandra was known to be a talented painter and philanthropist who advocated for people with disabilities. She was active as a board member of the PACER Center, the Bloomington-based organization that supports children with disabilities.

Following reports that the couple was found dead, there have been questions about the financial situation of the two at the time of their death, with some speculating that the alleged murder-suicide might have been provoked by financial woes unknown to the public.

We were unable to confirm Irwin L. Jacobs net worth at the time  of his death, but there is currently no evidence that the alleged murder-suicide was related to any financial troubles.  Some sources confuse Irwin L. Jacobs with Irwin M. Jacobs who co-founded mobile chipmaker Qualcomm in 1985, and is currently listed by Forbes as having a net worth of US$1.3 billion.

Mathisen told Star Tribune that Irwin’s wife Alexandra had been confined to a wheelchair for some time and was showing signs of dementia. He claimed that Irwin had been deeply troubled by his wife’s failing health.

However, police declined to comment on media speculation and reports that the case was a murder-suicide, saying they were investigating the incident.

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