FedEx Founder Fred Smith Dies at 80
Fred Smith, the founder of FedEx and a veteran of the US Marine Corps, passed away on Saturday at the age of 80.
The company, which began its journey in the early 1970s, has grown immensely over the years and now handles approximately 17 million shipments daily, as reported by the Associated Press on Sunday.
Initially, FedEx excelled at providing rapid delivery of smaller packages and documents, outperforming traditional postal services.
Smith had made Memphis, Tennessee, his home while spearheading the company. Born in Mississippi on August 11, 1944, according to the Daily Memphian, he had some humble beginnings.
Interestingly, it was during his time at Yale that Smith was inspired to create FedEx. He wrote a paper on the concept of reliable overnight delivery in the digital age, but, not surprisingly, his professor gave him a C.
Yet, despite that setback, he persevered. Now, FedEx operates on a global scale.
The Memphis landscape has transformed due to FedEx’s presence. As noted by the Daily Memphian, the planes are a common sight in the city’s skies, and the distribution center’s expansion has markedly influenced the area’s development. Thousands of people depend on FedEx for their livelihoods, while many retirees rely on the company’s stock and dividends for their income.
It’s worth mentioning that FedEx had a notable moment in popular culture, featuring prominently in the 2000 film Cast Away starring Tom Hanks.
According to the Associated Press, Smith once revealed that he coined the term “Federal Express.”
Before founding his business, Smith served two tours in Vietnam as a Marine, where he earned two Purple Hearts and a Silver Star. His military experience significantly shaped his entrepreneurial journey.
Memphis Mayor Paul Young commented on Smith’s passing, stating that he was “more than a business leader; he was a visionary whose ideas molded Memphis’s identity and influenced the global economy.”
He added that Fred’s innovative mindset encouraged everyone to dream bigger and envision what could be achieved. “In many ways, he gave our city wings. With FedEx, Memphis gained jobs, investment, and international acclaim. His legacy will keep our city moving,” he concluded.
