Billionaire FedEx founder Fred Smith who pioneered modern delivery service dies aged 80 leaving 10 children
FRED Smith, the billionaire founder of revolutionary delivery firm FedEx, has died at the age of 80.
FedEx started up in in 1973 delivering small parcels and documents more quickly than the postal service.
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Fred Smith, founder of FedEx, has died at 80
Credit: Getty
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Smith leaves behind 10 children
Credit: Getty
Smith oversaw its growth to a behemoth of the industry, relied upon by other companies all over the world.
The business now delivers a staggering 17million parcels every day.
His cause of death is yet to be confirmed.
Smith, worth $5.3billion at his death according to Forbes, was also known for his philanthropy.
He stepped down as FedEx's CEO in 2022, but remained at the helm as executive chairman.
Memphis's former mayor Jim Strickland hailed him as "the most significant Memphian in history".
He donated millions of dollars to the Marine Corps Scholarship Foundation - after serving for four years in the Marine Corps himself.
Politicians and commercial figures have paid tribute to the legendary businessman.
Most read in The US Sun
Tennessee Senator Marsha Blackburn said: "I am deeply saddened by the passing of Fred Smith.
"As the founder of FedEx, his leadership and innovation transformed global commerce, and he will be remembered for his relentless drive, patriotism, and commitment to service.
"His legacy will endure not only through the company he built but through the countless lives he touched.
"Praying for his wife, children, and family."
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Extra.ie
3 hours ago
- Extra.ie
Billionaire FedEx founder dies aged 80, leaving behind legacy and 10 children
Fred Smith, the billionaire entrepreneur who transformed the global delivery industry by founding FedEx, has died at the age of 80. Smith launched FedEx in 1973 with a groundbreaking idea: a faster, more efficient way to deliver small parcels and documents than the traditional postal service. Starting with just 14 aircraft operating out of Memphis International Airport, the company serviced 25 U.S. cities in its early days. His innovative 'hub and spokes' model, coordinating air cargo flights around a central hub, quickly became a cornerstone of modern logistics. Under Smith's leadership, FedEx grew into a global powerhouse, now delivering an astonishing 17 million parcels every day. His cause of death has not yet been confirmed. Under Smith's leadership, FedEx grew into a global powerhouse, now delivering an astonishing 17 million parcels every day. A Yale University graduate, Smith famously drew on a business theory he developed during his college years to create the foundation for FedEx. Worth an estimated $5.3 billion at the time of his death, according to Forbes, Smith was also a dedicated philanthropist. He donated millions to the Marine Corps Scholarship Foundation, supporting the families of those who served. Though he stepped down as CEO in 2022, Smith remained deeply involved with the company as executive chairman. Fred Smith. Pic: Getty His passing prompted an outpouring of tributes from political and business leaders alike. Memphis's former mayor Jim Strickland called him 'the most significant Memphian in history,' adding: 'He benefited our city in every way possible and allowed generations of Memphians to achieve the American dream. God bless Fred Smith. My condolences to the Smith family.' Smith is survived by his wife and 10 children.
The Irish Sun
8 hours ago
- The Irish Sun
Billionaire FedEx founder Fred Smith who pioneered modern delivery service dies aged 80 leaving 10 children
FRED Smith, the billionaire founder of revolutionary delivery firm FedEx, has died at the age of 80. FedEx started up in in 1973 delivering small parcels and documents more quickly than the postal service. 2 Fred Smith, founder of FedEx, has died at 80 Credit: Getty 2 Smith leaves behind 10 children Credit: Getty Smith oversaw its growth to a behemoth of the industry, relied upon by other companies all over the world. The business now delivers a staggering 17million parcels every day. His cause of death is yet to be confirmed. Smith, worth $5.3billion at his death according to Forbes, was also known for his philanthropy. He stepped down as FedEx's CEO in 2022, but remained at the helm as executive chairman. Memphis's former mayor Jim Strickland hailed him as "the most significant Memphian in history". He donated millions of dollars to the Marine Corps Scholarship Foundation - after serving for four years in the Marine Corps himself. Politicians and commercial figures have paid tribute to the legendary businessman. Most read in The US Sun Tennessee Senator Marsha Blackburn said: "I am deeply saddened by the passing of Fred Smith. "As the founder of FedEx, his leadership and innovation transformed global commerce, and he will be remembered for his relentless drive, patriotism, and commitment to service. "His legacy will endure not only through the company he built but through the countless lives he touched. "Praying for his wife, children, and family." More to follow... For the latest news on this story, keep checking back at The U.S. Sun, your go-to destination for the best celebrity news, sports news, real-life stories, jaw-dropping pictures, and must-see videos . Like us on Facebook at
Irish Examiner
9 hours ago
- Irish Examiner
FedEx founder Fred Smith dies aged 80
Fred Smith, the FedEx founder who revolutionised the express delivery industry, has died aged 80. FedEx started operating in 1973, delivering small parcels and documents more quickly than the US postal service could. Over the next half-century, Mr Smith, a veteran US Marine, oversaw the growth of a company that combined air and ground service and became something of an economic bellwether because so many other companies rely on it. Based in Memphis, Tennessee, FedEx grew into a global transportation and logistics company that averages 17 million shipments per business day. Mr Smith stepped down as chief executive in 2022 but remained executive chairman. A 1966 graduate of Yale University, he used a business theory he came up with in college to create a delivery system based on co-ordinated air cargo flights centred on a main hub – a 'hub and spokes' system, as it became known. The company also played a major role in the shift by American business and industry to a greater use of time-sensitive deliveries and less dependence on large inventories and warehouses. Mr Smith once told The Associated Press that he came up with the name Federal Express because he wanted the company to sound big and important when in fact it was a start-up operation with a future far from assured. FedEx revolutionised the express delivery industry (PA) At the time, he was trying to land a major shipping contract with the Federal Reserve Bank that did not work out. In the beginning, Federal Express had 14 small aircraft operating from Memphis International Airport flying packages to 25 US cities. Mr Smith's father, also named Frederick, built a small fortune in Memphis with a regional bus line and other business ventures. Following college, Mr Smith junior joined the US Marines and was commissioned a second lieutenant. He left the military as a captain in 1969 after two tours in Vietnam where he was decorated for bravery and wounds received in combat. He told The Associated Press in a 2023 interview that everything he did running FedEx came from his experience in the Marines, not what he learned at Yale. Getting Federal Express started was no easy task. Overnight shipments were new to American business and the company had to have a fleet of planes and a system of interconnecting air routes in place from the start. Though one of Memphis's best-known and most prominent citizens, Mr Smith generally avoided the public spotlight, devoting his energies to work and family. But despite his low profile, he made a cameo appearance in the 2000 movie Castaway starring Tom Hanks. The movie was about a FedEx employee stranded on an island. 'Memphis has lost its most important citizen, Fred Smith,' said US representative Steve Cohen of Tennessee, citing the FedEx's founder's support for everything from the University of Memphis to the city's zoo. 'FedEx is the engine of our economy, and Fred Smith was its visionary founder. But more than that, he was a dedicated citizen who cared deeply about our city.'
