Delivery giant FedEx has lost its founder. Frederick W. Smith, the founder of FedEx, has died at the age of 80.
Smith, born on August 11, 1944, in Marks, Mississippi, was the visionary founder of FedEx, a company that revolutionized global logistics and overnight delivery. Despite facing early health challenges, including a childhood bout with Legg-Calvé-Perthes disease, Smith developed a passion for aviation and leadership — both of which would shape his future.
Smith attended Yale University, where he studied economics and wrote a now-famous term paper proposing an integrated air-to-ground delivery service optimized for time-sensitive shipments. Though the idea was initially dismissed, it became the foundation for what would become Federal Express.
READ: Boeing shares fall nearly 5% after deadly crash in India kills over 200 (June 12, 2025)
After serving with distinction as a U.S. Marine Corps officer during the Vietnam War—earning a Bronze Star, Silver Star, and two Purple Hearts—Smith returned to civilian life determined to bring his idea to reality. In 1971, he founded Federal Express (later shortened to FedEx), investing $4 million of his own inheritance and raising an additional $91 million in venture capital—then the largest start-up funding effort in U.S. history.
FedEx officially began operations in April 1973, launching overnight delivery service to 25 cities using a fleet of 14 Dassault Falcon jets. Smith introduced the innovative “hub-and-spoke” model—centralizing sorting and routing operations at a central hub in Memphis, Tennessee. This allowed FedEx to streamline operations, improve efficiency, and guarantee next-day delivery—a radical concept at the time.
FedEx continued to grow rapidly throughout the 1980s and 1990s, introducing technologies like real-time package tracking and expanding globally. Smith remained at the helm for nearly five decades, transforming FedEx into a logistics empire with over 500,000 employees, more than 700 aircraft, and services spanning 220+ countries.
Under Smith’s leadership, FedEx didn’t just deliver packages, it reshaped global commerce, enabling the rise of e-commerce and just-in-time manufacturing. Smith stepped down as CEO in 2022, becoming the executive chairman. He passed away on June 21 at the age of 80.
Today, Smith is remembered not only as a pioneering entrepreneur but also as a decorated veteran and advocate for free trade, innovation, and global connectivity. His legacy endures in every overnight package delivered around the world.
An early account suggests that in FedEx’s initial days, founder Fred Smith and Roger Frock — the company’s first general manager and COO, who later chronicled his experience in a book — faced a financial crisis. According to Frock, after launching in Memphis on April 17, 1973, FedEx was nearly broke, owing far more than it had and struggling to cover fuel costs to keep operations going.
After a last-ditch financing effort fell through, Frock said he learned Smith had taken an unorthodox approach to handling the cash problem. As Frock wrote in “Changing How the World Does Business: FedEx’s Incredible Journey to Success”:
“I asked Fred where the funds had come from, and he responded, ‘The meeting with the General Dynamics board was a bust and I knew we needed money for Monday, so I took a plane to Las Vegas and won $27,000.’”
I said, “You mean you took our last $5,000— how could you do that?”
He shrugged his shoulders and said, “What difference does it make? Without the funds for the fuel companies, we couldn’t have flown anyway.”
Fred’s luck held again. “It was not much, but it came at a critical time and kept us in business for another week.”
Smith’s remarkable journey from a bold college idea to building one of the world’s most influential logistics companies is a testament to vision, risk-taking, and relentless determination. His legendary gamble in Las Vegas, while unconventional, captured the grit and audacity that defined his leadership. Though his methods occasionally defied norms, the results reshaped global commerce and logistics. As the world mourns his passing, Smith’s legacy lives on in every overnight delivery and every modern business that relies on speed, reliability, and global reach.