In 1984, he was awarded the Israel Prize for Exemplary Lifetime Service to the Society and State.
Jacob Hecht and his brother Herman founded the Neptun Rhenania shipping company.
Hecht became interested in Zionism after reading anti-Zionist materials published by the Centralverein deutscher Staatsbürger jüdischen Glaubens encouraging Jewish assimilation.
After the establishment of the State of Israel, Hecht won an exclusive concession to build grain storage silos in Haifa and Ashdod.
[2] Hecht was a principal aide to Prime Minister Menachem Begin at the Camp David peace talks and attended other meetings with Jimmy Carter, Ronald Reagan, Anwar Sadat and Margaret Thatcher.