Irwin Jacobs

Irwin L. Jacobs (1941-2019) – Irwin Jacobs was a highly successful businessman in a variety of industries, but his passion for bass fishing was best embodied through his longtime leadership of the FLW Outdoors and ownership of Genmar Industries, the world’s largest privately-held recreational boat builder. He was inducted in to the Bass Fishing Hall of Fame in 2010.

Jacobs was raised in Minneapolis, very briefly attended the University of Minnesota, and literally embodied the American “rags to riches” story. At 8 years old, he started working for his father’s Northwestern Bag Company, collecting and reselling burlap sacks. In 1973, Jacobs founded COMB (“Close-out Merchandise Buyers”), a catalog-based mail-order retailer, and along with several cable television magnates he later created the Cable Value Network, an innovative shopping channel later purchased by QVC. Jacobs, based in Minneapolis, became wealthy by taking big stakes in Fortune 500, usually to unlock value by breaking them up thus earning the nickname “Irv the Liquidator.” He was a relentlessly bold and aggressive businessman, and many of his ventures were taken in collaboration with friend Carl Pohlad. Together they were involved in corporate acquisitions of the Grain Belt Brewery, Disney and Kaiser Steel. Along with Pohlad and others, Jacobs owned a portion of the Minnesota Vikings for a period of time.

Gemar, which included iconic bass boat brands like Ranger Boats, Stratos and Javelin, became a large player within Jacobs’ portfolio, and led him to purchase and operate FLW Outdoors, the world’s largest fishing tournament organization with annual awards of millions of dollars for anglers in tournament circuits targeting species including not just bass, but also walleye, redfish, kingfish and striped bass. Those circuits ranged from the tour-level down through the weekend angler. In the latter category, FLW owned the Red Man Tournament Trail (later renamed the BFL, or “Bass Fishing League”) and ultimately took on a portion of the Bass Federation.

His decision to purchase what until then had been known as Operation Bass was an attempt to fully tap into the buying power of the nation’s 50 million fishing enthusiasts. He later renamed the operations FLW Outdoors after the legendary founder of Ranger Boats, Forrest L. Wood. Jacobs saw FLW Outdoors tournaments as a unique and powerful opportunity to communicate with a huge consumer group that had never been pursued. In 1997, Jacobs hooked the giant retailer, Wal-Mart, as a title sponsor, which eventually allowed Jacobs to court the world’s leading consumer products companies. As a result of Jacobs’ efforts, more than 50 leading consumer brands, including brands owned by global powerhouses BP, General Motors, Kellogg’s, and Procter & Gamble, sponsored FLW Outdoors tournaments. In 2007, FLW Outdoors made history by awarding the sport’s first $1 million check to Arkansas angler Scott Suggs when he won the Forrest Wood Cup championship.

In addition to his accomplishments in sport of tournament fishing and the business world more broadly, Jacobs was a devoted and generous philanthropist. He underwrote and served as chairman of the 1991 International Summer Special Olympics Games, which were held in Minneapolis/St. Paul. Additionally, he personally funded the building, furnishing and overall operations of Dells Place, a group home for developmentally challenged individuals; Functional Industries, an occupational workshop for physically and mentally disabled individuals; and The Art Center of Minnesota. Additionally, Jacobs supported several other local and nonprofit organizations benefiting the arts, disabled, developmentally challenged and homeless.

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