[2][3] Born to Susan and Zachary Scholz in Buchanan, Michigan, Jackson Scholz, nicknamed "The New York Thunderbolt", competed for the University of Missouri in Columbia, Missouri (where he joined Kappa Alpha Order), and later the New York Athletic Club.

His first Olympic appearance was in Antwerp in 1920, where he won a gold medal with the American 4 × 100 m relay team.

Four years later, he was one of the favorites for the sprint titles in the 100 and 200 m. He lived up to the expectations in the 200 m, but was beaten to the gold in the 100 m by Britain's Harold Abrahams.

As the reigning champion, he placed fourth in the 200 m. During the 1984 Summer Olympic Games, an American Express credit card commercial[4] ("Don't leave home without it") included Ben Cross and the 87-year-old Scholz.

Proving he was "still pretty fast," Scholz beat Cross to the draw in picking up the tab with his credit card.