The founder of FedEx, Fred Smith, who revolutionized logistics, has passed away
22 june 2025 в 18:13
Fred Smith, a prominent entrepreneur who transformed the logistics industry by founding FedEx, passed away at the age of 80.
«Fred was not just a pioneer in the industry and the founder of our great company. He was the heart and soul of FedEx — its PSP culture, values, honesty, and spirit», - said FedEx CEO Raj Subramaniam. «He was a mentor to many and a source of inspiration for all».
Former President George Bush Jr. also honored Smith, calling him «one of the greatest Americans of our generation».
Smith was an American entrepreneur and the founder of FedEx, the first company to make overnight package delivery its main business focus. Born in Mississippi in 1944, Smith served in the US Marine Corps before launching Federal Express in 1971. His revolutionary hub-and-spoke model transformed global logistics and helped FedEx become one of the world’s largest transportation companies. He led the company as CEO for nearly 50 years, retiring in 2022 but remaining as executive chairman until his death.
«We were a small startup and had our share of skeptics. But that first night of operation led to what became a global connector of people and opportunities that changed our world for the better», - Smith wrote in a letter to employees in 2022, announcing his retirement.
At the time of his death, his net worth was estimated at $ 5.3 billion, according to Forbes.
The official cause of death has not been publicly confirmed at this time. However, local media in Memphis and Gray News reported that Smith passed away after a heart attack on Saturday evening
«Fred was not just a pioneer in the industry and the founder of our great company. He was the heart and soul of FedEx — its PSP culture, values, honesty, and spirit», - said FedEx CEO Raj Subramaniam. «He was a mentor to many and a source of inspiration for all».
Former President George Bush Jr. also honored Smith, calling him «one of the greatest Americans of our generation».
Smith was an American entrepreneur and the founder of FedEx, the first company to make overnight package delivery its main business focus. Born in Mississippi in 1944, Smith served in the US Marine Corps before launching Federal Express in 1971. His revolutionary hub-and-spoke model transformed global logistics and helped FedEx become one of the world’s largest transportation companies. He led the company as CEO for nearly 50 years, retiring in 2022 but remaining as executive chairman until his death.
«We were a small startup and had our share of skeptics. But that first night of operation led to what became a global connector of people and opportunities that changed our world for the better», - Smith wrote in a letter to employees in 2022, announcing his retirement.
At the time of his death, his net worth was estimated at $ 5.3 billion, according to Forbes.
The official cause of death has not been publicly confirmed at this time. However, local media in Memphis and Gray News reported that Smith passed away after a heart attack on Saturday evening
© Kolganov Andrey
