The son of Benjamin Franklin and Mary (McMasters) Jones, Benjamin F. Jones, Jr. received an A.B. from Princeton in 1891. On 16 November 1892, he married Sue D. Dalzell. They had a son, Benjamin III, and a daughter, Adelaide. Jones was a steel manufacturer beginning with the Jones & Laughlin, Ltd., a firm established by his father and formerly called The American Iron Works. By 1900, he was the President of the firm. He served as President of Jones & Laughlin Steel Co. from 1902-1923, and was Chairman of the Board from 1923 on. He also directed the National Union Fire Insurance Co., and the Union Trust Co. of Pittsburgh. He served as a trustee for the Allegheny General Hospital and Mercy Hospital, and in 1908 acted as Chairman of the Electoral College of Pennsylvania.