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Byline: MURRAY COLEMAN
For Joseph Jacobs, how something worked was as important as if it worked. And once it worked, what was the best way to get it to people?
From the time he was young, when he received a chemistry set, Jacobs was captivated by science.
As he grew, he became equally captivated by political thought, and widely touted the benefits of a free market economy.
It made for a powerful combination: Jacobs' fascination with unraveling the universe's mysteries and his passionate belief in free markets helped him found and build one of the world's biggest engineering and construction firms. Jacobs Engineering Group Inc. posted $4.6 billion in revenue last year and employed more than 35,000 worldwide. He received the Hoover Medal, which recognizes the civic and humanitarian achievements of professional engineers, from President Reagan in 1983.
By the time Jacobs passed away Oct. 23 at age 88, he'd created an even greater legacy. A foundation he started in 1989 with his family has given away $32 million in aid to families and businesses in need.
More than that, it served as one of the first proving grounds for a new type of philanthropy.