At 95 years old, longtime Colorado philanthropist says he still has purpose by giving back
Jake Jabs became a household name in Colorado thanks in large part to his eccentric commercials featuring live tigers and his savvy business acumen.
"My first business, I had a music store in Bozeman, Montana," recalls Jabs, as he walks around his warehouse in Englewood. "A furniture guy came along and pitched me on furniture, and it didn't take me long to figure out that everybody needed furniture, and not everyone needed a guitar."
With that in mind, in 1975 Jabs purchased the American Furniture Company, which was headed for bankruptcy. He bought $1.5 million in assets for $80,000 and his dynasty was born.
American Furniture Warehouse now has 18 locations across Colorado, Arizona and Texas and is still family-owned and operated.
As proud as he is of what he's accomplished in the business world, Jabs is arguably most proud of what he's been able to give back. In the past year, he has personally donated more than $1 million to charities across Colorado and is a long-time supporter of CBS Colorado's Wednesday's Child partnership with Raise the Future.
In June, Jabs was awarded the American Red Cross Heroism Award and the Volunteers of America Good Samaritan Award for his philanthropy.
"It's really neat to receive those honors because those are great organizations," Jabs said.
"Growing up poor, I saw a lot of poverty," he recalls. "I've traveled to 50 countries, and I see a lot of poverty, so I like to give to charity and things that help people and live them out of poverty."
Jabs also gives to education in hopes of inspiring the next generation of entrepreneurs and has started the Jake Jabs College of Business & Entrepreneurship at Montana State University and the Jake Jabs Center for Entrepreneurship at the University of Colorado Denver Business School.
At 95 years old, he keeps his own entrepreneurial spirit alive by still working six days a week.
"If you enjoy what you're doing, you may never work another day in your life," Jabs said. "But there are other reasons. You have to have a purpose, and I have a purpose. I give to a lot of charities, and I support two universities, and I support education, so I do a lot of good things that way too."
