A 95-year-old CEO bought a bankrupt furniture store for $80,000 in 1975, then quietly built an $858 million business and gave millions away

In 1975, Jake Jabs took the bold decision to make an $80,000 investment, which later led to the emergence of a multimillion-dollar company from a weak furniture business. The 95-year-old founder and chief executive officer of the American Furniture Warehouse took over the struggling company when it was just on the brink of going bankrupt and invested decades building up the company with the help of affordability, efficiency, and a customer-oriented approach.

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