Fred Smith
Overview
- Source of Wealth
- FedEx
- Industry
- Logistics
- Residence
- Organization
- Founder and Executive Chairman at FedEx
- Education
- Yale University (Bachelor of Arts/Science)
- Children
- 10
Assets
- FedEx Corp.19,017,569 shares @ --FDX-US
- FedEx Corp.132,520 shares @ --FDX-US
- FedEx Corp.156,000 shares @ --FDX-US
- FedEx Corp.139,080 shares @ --FDX-US
- FedEx Corp.116,000 shares @ --FDX-US
- FedEx Corp.214,880 shares @ --FDX-US
- FedEx Corp.268,880 shares @ --FDX-US
- FedEx Corp.64,391 shares @ --FDX-US
Biography
FedEx founder Fred Smith came up with the idea for the company for a term paper at Yale in 1965.
After graduation, Smith served in Vietnam with the Marines. He returned home and launched FedEx in 1971.
FedEx lost $29 million in its first 26 months, so Smith flew to Vegas and won $27,000 at the blackjack tables, enough to keep the business afloat.
The company now generates nearly $90 billion in annual revenue.
Smith announced in 2022 that he would be stepping down from his role as CEO at FedEx after 50 years; he now serves as executive chairman of the company.
About
Smith was fraternity brothers at Yale with former President George W. Bush.
Though stricken with a bone disease as a small boy, he became an excellent football player by age 10 and learned to fly at 15.