Billionaire FedEx founder dies aged 80, leaving behind legacy and 10 children
Smith launched FedEx in 1973 with a groundbreaking idea: a faster, more efficient way to deliver small parcels and documents than the traditional postal service.
Starting with just 14 aircraft operating out of Memphis International Airport, the company serviced 25 U.S. cities in its early days. His innovative 'hub and spokes' model, coordinating air cargo flights around a central hub, quickly became a cornerstone of modern logistics.
Under Smith's leadership, FedEx grew into a global powerhouse, now delivering an astonishing 17 million parcels every day.
His cause of death has not yet been confirmed. Under Smith's leadership, FedEx grew into a global powerhouse, now delivering an astonishing 17 million parcels every day.
A Yale University graduate, Smith famously drew on a business theory he developed during his college years to create the foundation for FedEx.
Worth an estimated $5.3 billion at the time of his death, according to Forbes, Smith was also a dedicated philanthropist. He donated millions to the Marine Corps Scholarship Foundation, supporting the families of those who served.
Though he stepped down as CEO in 2022, Smith remained deeply involved with the company as executive chairman. Fred Smith. Pic: Getty
His passing prompted an outpouring of tributes from political and business leaders alike.
Memphis's former mayor Jim Strickland called him 'the most significant Memphian in history,' adding: 'He benefited our city in every way possible and allowed generations of Memphians to achieve the American dream. God bless Fred Smith. My condolences to the Smith family.'
Smith is survived by his wife and 10 children.
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