The Jacobsons paid $485,000 for the property in March 1991.
The 7,601 square foot home was listed for $5.995 million.
Mr. Baum is the former vice chairman, president and CEO of The Dial Corporation, the Arizona-based soap, laundry detergent and air freshener giant. He served as the company's CEO from 2000 until his retirement in 2005.
He currently sits on the board of directors for PepsiAmericas, Inc., and also serves as a director for Playtex Products Inc., the Meredith Corporation, U.S. Airways and Ocean Spray Cranberries.
Prior to joining Dial, Baum spent a year as the president and chief operating officer of toy giant Hasbro Inc. He also served as the CEO of the Quaker State Corporation from 1993-99, and spent 15 years in various roles with the Campbell Soup Company.
Home sales in Tequesta dropped nearly 17 percent in 2007. The median sales price also dropped from $306,000 in 2006 to $274,000 last year.
BlockShopper Metrics began tracking home sales in South Florida in 2001.
Address: 19000 Point Drive
Buyer(s): Herbert M Baum and Karen R Baum
Seller(s): Steven K Jacobson and Joann Jacobson
Sale date: Jan. 4, 2006