Fred Smith, the visionary founder of FedEx Corporation who transformed the express delivery industry, has passed away at the age of 80, the company announced.
Launched in 1973, FedEx began by offering faster parcel and document delivery compared to the traditional postal service. Over the next fifty years, Smith, a Marine Corps veteran, guided the company’s growth into a global transportation and logistics powerhouse relied upon by countless businesses worldwide.
Headquartered in Memphis, Tennessee, FedEx now manages an average of 17 million shipments on each business day. Though Smith stepped down as CEO in 2022, he continued to serve as executive chairman.
A 1966 Yale University graduate, Smith developed a business concept while in college that became the foundation of FedEx’s operations: a “hub and spoke” model centered on coordinated air cargo flights focused on a primary hub. This system revolutionized shipping logistics.
FedEx also played a key role in American industry’s shift toward just-in-time delivery methods, reducing dependency on large inventories and warehouses through timely, reliable shipping.
Smith once explained that the name “Federal Express” was chosen to give the impression of a large, established company, despite being a small startup at the time. Early on, Smith sought a major contract with the Federal Reserve Bank, which did not come through.
Initially, Federal Express operated with 14 small aircraft flying out of Memphis International Airport to 25 cities across the United States.
Smith came from a family with entrepreneurial roots — his father had built wealth through a regional bus line and other ventures in Memphis. After college, Smith served two tours in Vietnam as a Marine Corps officer, earning decorations for bravery and wounds sustained in combat, and left the military as a captain in 1969.
In reflecting on his leadership style, Smith attributed much of his approach to his Marine Corps experience rather than his academic training.
Starting Federal Express was a formidable challenge. The concept of overnight shipping was new to American businesses, and Smith had to establish a fleet of planes and an intricate network of air routes right from the beginning.
Beyond FedEx, Smith held a minority stake in the Washington Commanders NFL team until 2021, when he and other minority owners sold their shares. His son Arthur Smith has a career in the NFL as a coach, including head coach of the Atlanta Falcons and currently offensive coordinator for the Pittsburgh Steelers.
Although one of Memphis’s most influential figures, Smith preferred to stay out of the limelight, focusing on his family and work.
He made a brief on-screen appearance in the 2000 film Castaway, which tells the story of a FedEx employee stranded on a deserted island.
“Memphis has lost one of its most important citizens, Fred Smith,” said U.S. Representative Steve Cohen of Tennessee. Cohen highlighted Smith’s support for local institutions including the University of Memphis and the city zoo, calling FedEx the economic engine of the region and Smith its visionary founder.
Smith and his family were known for their quiet philanthropy, often avoiding public recognition for their donations. In 2023, he spoke about a significant contribution to the Marine Corps Scholarship Foundation, establishing a fund to support children of Navy service members pursuing STEM education.
He expressed a deep commitment to giving back: “America is the most generous country in the world. People give to causes both big and small, from health care initiatives to foundations like the Gates Foundation,” he said. “If you’ve done well here, it’s only right to give back to the public good. This spirit reflects the great tradition of American philanthropy.”
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