Fred Smith, the visionary founder of FedEx, has passed away at the age of 80, leaving behind a legacy that transformed the world of logistics and shipping. As the mastermind behind one of the world’s most influential businesses, Smith revolutionized the parcel delivery industry with his innovative idea of using aircraft for overnight delivery.
Smith’s journey began with a term paper at Yale University, where he proposed a revolutionary way to deliver time-sensitive shipments. Despite receiving only an average grade, Smith was undeterred and went on to found Federal Express in 1971 in Little Rock, Arkansas. The company started operations in Memphis two years later with 389 employees and 14 aircraft, delivering 186 packages to 25 US cities.
Under Smith’s leadership, FedEx grew steadily over the next five decades, expanding its services globally and creating a vast network of ground and air transportation. The company’s innovative approach and commitment to reliability earned it a reputation as a leader in the logistics industry. Today, FedEx is an $87.7 billion enterprise with the largest air cargo fleet in the world, moving over $2 trillion worth of goods annually.
“Fred was more than just the pioneer of an industry and the founder of our great company,” said Raj Subramaniam, FedEx’s CEO. “He was the heart and soul of FedEx – its People-Service-Profit culture, values, integrity, and spirit. He was a mentor to many and a source of inspiration to all.”
Smith’s impact extended beyond the business world. He was a proud Marine who served in Vietnam, earning the Silver Star, Bronze Star, and two Purple Hearts. His patriotism and commitment to public service were evident in his willingness to serve, and he was even offered the role of Secretary of Defense twice by President George W. Bush, though he declined due to family commitments.
“My Yale fraternity brother loved America,” said former President George W. Bush in a statement. “He built an innovative company that helped supercharge our economy. FedEx changed the way we live and do business.”
As a testament to his enduring legacy, Smith’s contributions to the logistics industry have been recognized globally. He was inducted into the Aviation Hall of Fame and the Business Hall of Fame, and named one of the world’s 50 greatest leaders by Fortune Magazine in 2014.