Jacobson was born in Los Angeles, California, on June 12, 1991, to actress Meryl Streep and sculptor Don Gummer. She is the younger sister of musician Henry Gummer and actresses Mamie Gummer and Grace Gummer. She attended Poly Prep Country Day School and graduated from Vassar College in 2013 majoring in psychology. She also attended British American Drama Academy three-week summer programme in Oxford and is a graduate of the Yale School of Drama with a master of fine arts in acting.
On stage, Jacobson made her professional acting debut as Mary Dalton in Yale Repertory Theatre’s production of Nambi E. Kelley’s Native Son, directed by Seret Scott.
In 2018, she starred in Williamstown Theatre Festival’s production of Carson McCullers’ play Member of the Wedding, opposite Tavi Gevinson and directed by Gaye Taylor Upchurch.

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