He put Walter Duffield, a fellow-passenger on the trip out, in charge of the estate and was soon growing grapes; his wine was some of the first produced in the Colony.
Their ship Lalla Rookh took whale oil and some of South Australia's first wool export to London in 1840.
He shared with Baker a shipping business involving the barque East London and in the Montacute copper venture with John Hart.
He supported measures to entrench the privileges of the squatters, and criticised the indigent poor for their dependence on Government charity.
He retained ownership of the Echunga property, whose tenants he dealt with in a tight-fisted and curmudgeonly way, but his expenses exceeded his income and by the time of his death, in Ropley, Hampshire, his wealth had diminished to around £8,000,[2] in today's values perhaps around $5,000,000.
Jacob was originally of the Quaker faith, which might have been a bar to his appointment to the Legislative Council but for intercession by friends in high places.
James Farrell at St John's Church, Adelaide in 1844, he was ostracised by the local Society of Friends.