Billionaire FedEx founder Fred Smith who pioneered modern delivery service dies aged 80 leaving 10 children
Click to share on X/Twitter (Opens in new window)
Click to share on Facebook (Opens in new window)
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.
Sign up for Scottish Sun
newsletter
Sign up
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 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.
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 TheSunUS and follow us on X at @TheUSSun
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
NBC News
4 hours ago
- NBC News
FedEx founder Fred Smith, a Marine Corps veteran who revolutionized package delivery, dies at 80
MEMPHIS, Tenn. — Fred Smith, the FedEx Corp. founder who revolutionized the express delivery industry, has died, the company said. He was 80. FedEx started operating in 1973, delivering small parcels and documents more quickly than the postal service. Over the next half-century, Smith, a Marine Corps veteran, oversaw the growth of a company that became something of an economic bellwether because so many other companies rely on it. Memphis, Tennessee-based FedEx became a global transportation and logistics company that averages 17 million shipments per business day. Smith stepped down as CEO in 2022 but remained executive chairman. Smith, a 1966 graduate of Yale University, used a business theory he came up with in college to create a delivery system based on coordinated air cargo flights centered 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. 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. At the time, Smith was trying to land a major shipping contract with the Federal Reserve Bank that didn't work out. In the beginning, Federal Express had 14 small aircraft operating out of the Memphis International Airport flying packages to 25 U.S. cities. Smith's father, also named Frederick, built a small fortune in Memphis with a regional bus line and other business ventures. Following college, Smith joined the U.S. 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 get-go. Though one of Memphis' best-known and most prominent citizens, Smith generally avoided the public spotlight, devoting his energies to work and family. Despite his low profile, Smith 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 U.S. Rep. Steve Cohen of Tennessee, citing Smith'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.' Smith rarely publicized the donations he and his family made, but he agreed to speak with AP in 2023 about a gift to the Marine Corps Scholarship Foundation to endow a new scholarship fund for the children of Navy service members pursuing studies in STEM. 'The thing that's interested me are the institutions and the causes not the naming or the recognition,' Smith said at the time. Asked what it means to contribute to the public good, he replied: 'America is the most generous country in the world. It's amazing the charitable contributions that Americans make every year. Everything from the smallest things to these massive health care initiatives and the Gates Foundation and everything in between,' he said. 'I think if you've done well in this country, it's pretty churlish for you not to at least be willing to give a pretty good portion of that back to the public interest. And all this is in the great tradition of American philanthropy.'
Scottish Sun
4 hours ago
- Scottish Sun
Home Bargains shoppers are clearing shelves of £12.99 POOL that you can set up in less than 10 mins
The pools came in three different sizes, including a mega 10ft model SPLASH OUT Home Bargains shoppers are clearing shelves of £12.99 POOL that you can set up in less than 10 mins Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) SHOPPERS have been clearing a bargain store's shelves of a £12.99 pool that you can set up in less than 10 minutes. The Avenli Prompt Inflatable Pool from Home Bargains is perfect for keeping cool in the hot weather – if you can find one. Sign up for Scottish Sun newsletter Sign up 1 The cost of the Avenli Prompt Inflatable Pool ranges from £12.99 to £34.99 The pools are currently sold out on the store's website but some wily shoppers have managed to beat the crowds. One shopper posted on Facebook: "£19.99 in Home Bargains! Selling fast. Had to go to 3 different stores to find one! 8ft in size." The pools came in three different sizes, starting at just £12.99 for a 6ft pool. This rises to £19.99 for the 8ft version and £34.99 for the 10ft model. A statement on the Home Bargains website reads: "Dive into summer fun with the Avenli Prompt Inflatable Pools, available in 6ft, 8ft, and 10ft sizes! "Easy to set up in under 10 minutes and built from durable materials, it's the perfect garden accessory for family enjoyment and hassle-free relaxation." If you've missed out on one of the pools you can log on to the Home Bargains site and request a notification when they are back in stock. It comes as several stores – including Aldi, Lidl and Tesco – fill their shelves with summer items to enjoy during the current run of hot weather. My dream pool was £40,000 so I DIYd my own 18ft version in February all for this summer heatwave - it's saved me £37,000 This includes everything from pet products – including sun shades for dogs – to festival favourites such as camping chairs and tents. Aldi's Specialbuys launch every Thursday and Sunday, with the budget store's middle aisle flooded with a whole host of bargains, from garden gadgets to beauty dupes. Some of the more unusual items landing in stores today include a game of giant wooden toppling blocks, providing endless hours of fun for just £26.99, and a stand up paddle-board. With durable construction and hand-pump included, the paddle board, which costs £129.99, weighs 130kg and has a detachable seat with back and footrest so it can easily be converted into a kayak. Other items in the sale include a basketball hoop, priced at £39.99, while an outdoor table tennis set, pickleball top and a giant play parachute, all cost just £8.99 each. Don't miss out Visit The Sun's shopping home and garden hub for more news, deals and tips. For more discounts and recommendations from the Sun Shopping team, sign up to our newsletter and join the WhatsApp group Today's bargains also include a Giant Sprinkler. The huge kids toy is priced at £19.99 and comes in either an octopus or a unicorn design. The inflatable product shoots water out of jets, meaning your kids will be having a whale of a time, while keeping cool, providing the perfect alternative to the Avenli Prompt Inflatable Pool if you missed out on one.
Scotsman
5 hours ago
- Scotsman
7 of the best deals on offer at UK pubs right now
3 . All Bar One All Bar One are offering a variety of deals including; a free Aperol Spritz or fizz for graduates, two cocktails for one from Sunday to Friday from 12pm, two courses from £18 on Sundays, bottomless brunch from £34pp, Tapas Tuesday from £29.95 and much more. Please visit the All Bar One website for more details. | Facebook-All Bar One
