Was a German immigrant, arriving in Buffalo in 1844, and founded a tannery business. He expanded his interests to flour mills, railroads, banks, gas companies, and breweries. In 1877, he founded the Niagara Falls Hydraulic Company, and successfully generated and sold electricity in the Buffalo area. Through the years, through various acquisitions and mergers, his power company became the Niagara Mohawk Power Corp.

Because of his success in his varied endeavors, he was known as "King Jacob."