Fred Smith, founder of FedEx and parcel industry pioneer, has died. Announced by the FedEx company as they expressed "profound sadness," the trailblazing entrepreneur passed on June 21.
"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," the statement read. "He was a mentor to many and a source of inspiration to all."
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FedEx, which was founded by Smith as Federal Express in Little Rock, Arkansas in 1971, rapidly grew within its first two years of business. Developing the idea while just a student at Yale University, the now-legendary businessman revealed the business while writing a term paper that proposed a new and impactful way for customers to receive their time-sensitive shipments. Ironically, the paper is said to have only received an average grade.
Thankfully, his dedication and persistence paid off because just two years after its founding, FedEx expanded operations in Memphis and boasted 389 employees, along with 14 aircrafts that delivered 186 packages to 25 cities in the U.S. And, the rest, as they say, was history.
“We were a small startup and had our share of skeptics," Smith revealed in a 2022 memo to employees announcing his retirement. "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."
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Prior to his development of FedEx, Smith—who was born in 1944 in Marks, Mississippi—served four years in the U.S. Marines in which he completed two tours of duty in Vietnam. With all that Smith achieved, he gained a fan in former President George W. Bush, who referred to Smith as "one of the finest Americans of our generations" in a statement released in response to the news of Smith's death.
"He built an innovative company that helped supercharge our economy. FedEx changed the way we live and do business," the statement read. "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.”
Smith is survived by his second wife—Dianne Avis—and his 10 children, which include film producer Molly Smith, and former Atlanta Falcons head coach and current Pittsburgh Steelers offensive coordinator Arthur Smith.
While there is no confirmed cause of death, it has been reported that Smith's passing is the result of cardiac arrest.
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