FedEx Founder Fred Smith Dies at 80 Global Shipping Pioneer
Fred Smith visionary founder of FedEx has died at 80 . From a Yale term paper to a 90B logistics empire his legacy reshaped global shipping forever .
MEMPHIS Tenn – June 22 2025 — FedEx Corporation has confirmed the death of its founder and former CEO Frederick Wallace “Fred” Smith at the age of 80 . A visionary entrepreneur Smith turned a college paper into a multibillion dollar logistics empire fundamentally changing global commerce .
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Pioneering Vision From Yale Paper to Global Enterprise
Smith conceived the idea of overnight delivery in a 1965 term paper at Yale University for which he received a C . Undeterred he launched Federal Express in 1971 . With a small fleet of jets the company delivered just 186 packages on its first night in 1973 . That modest start would eventually disrupt the shipping industry forever .
Bold Gambles and Resilience
In FedEx’s early years the company faced financial hardship . In a now legendary move Smith won 27000 playing blackjack in Las Vegas—just enough to keep the company afloat for another week . He also faced legal scrutiny in 1975 but was acquitted of forgery charges related to loan documents .
Innovator and Leader
Smith revolutionized the logistics sector by introducing the hub and spoke distribution model and online package tracking in 1994 . He stepped down as CEO in June 2022 on FedEx’s 50th anniversary passing leadership to Raj Subramaniam .
Legacy A Logistics Titan
Under Smith FedEx grew into a 90 billion global enterprise handling over 16 million daily shipments by 2023 . A Vietnam War veteran Smith earned the Silver Star Bronze Star and two Purple Hearts. His legacy extends beyond business including global trade advocacy and strategic acquisitions like Kinko’s in 2004 .
Remembering an Icon
Fred Smith’s death marks the end of a transformative era in global logistics . As the world reflects on his achievements his vision continues to shape how businesses and individuals connect through commerce .