Fred Smith, the visionary entrepreneur who reworked the logistics business by founding FedEx, has died on the age of 80.
“Fred was more than just the pioneer of an industry and the founder of our great company. He was the heart and soul of FedEx – its PSP culture, values, integrity, and spirit,” FedEx CEO Raj Subramaniam mentioned in a assertion. “He was a mentor to many and a source of inspiration to all.”
Former President George W. Bush additionally honored Smith, calling him “one of the finest Americans of our generation.”
“He built an innovative company that helped supercharge our economy. FedEx changed the way we live and do business,” Bush mentioned within the assertion on June 22, 2025. “My Yale fraternity brother loved America. He was a citizen, not a spectator. He served as a Marine in Vietnam and was rightly proud of his association with our military. I twice asked him to serve as Secretary of Defense, and he declined twice only because of his devotion to his family. Laura and I send our condolences to Fred’s beloved children and grandchildren and his wife, Diane.”
Find out extra about Smith under.
Who Was Fred Smith?
Smith was an American entrepreneur and the founding father of FedEx, the primary firm to make in a single day package deal supply a cornerstone of its enterprise. Born in Mississippi in 1944, Smith served within the U.S. Marine Corps earlier than launching Federal Express in 1971. His groundbreaking hub-and-spoke mannequin reworked international logistics and helped FedEx develop into one of many world’s largest transportation firms. He led the corporate as CEO for practically 50 years, stepping down in 2022 whereas remaining govt chairman till his dying.
“We were a small startup and had our share of skeptics. But that first night of operations set into motion what would become a global connector of people and possibilities that would change our world for the better,” Smith wrote in a 2022 letter to staff saying his retirement.
Fred Smith’s Net Worth
At the time of his dying, Smith’s internet price was estimated to be $5.3 billion, in accordance with Forbes.
How Did Fred Smith Die?
As of now, no official reason behind dying has been publicly confirmed. However, native shops in Memphis and Gray News reported that Smith died after struggling a coronary heart assault on Saturday night.