FedEx Founder Frederick W. Smith: Innovator and Visionary
In 1971, Frederick W. Smith founded the Federal Express Corp, which later rebranded as FedEx in 1994.
Originating in Little Rock, Arkansas, the company then relocated to Memphis, Tennessee in 1973, where it grew into the largest express transportation company in the world, ultimately moving more than 17 million shipments per day.
On 21st June 2025, Fred died in Memphis, aged 80, marking the end of an era for the transportation industry.
An idea and a risk
In 1965, unbeknownst to his professors at Yale, Fred came up with an idea that would revolutionise the transportation industry.
He wrote a term paper outlining a new system that would safely transport time-sensitive shipments–such as medicine and electronics.
Despite receiving an average mark for this paper, six years later, Fred founded his company.
In 1973, Federal Express was launched with 14 Dassault Falcon jets and 389 team members, delivering 186 packages overnight to 25 US cities.
In its first 26 months, the company was running at a US$29m loss. In a desperate attempt to keep his innovation running, Fred travelled to Las Vegas with the last US$5,000, winning US$27,000 playing blackjack.
He immediately wired it back to FedEx and soon raised a further US$11m. The risk paid off and FedEx was running smoothly by 1976.
In 1977, FedEx purchased seven Boeing 727 aircraft, each with a cargo capacity of 40,000 pounds – almost seven times that of the Dassault Falcon.
The company went public in 1978, listed on the New York Stock Exchange as FDX.
FedEx President & CEO Raj Subramaniam explains: “Frederick W. Smith pioneered express delivery and connected the world, shaping global commerce as we know it.
“His legacy of innovation, leadership and philanthropy will continue to inspire future generations.”
A global impact
With Fred’s vision, FedEx created the first system for package tracking in 1979, which not only helped the company grow, but transformed the global transportation industry.
COSMOS (Customers, Operations and Services Master Online System) began as an internal tool that allowed distribution centre workers to track packages and delivery vehicles.
They could then provide updates for customers who phoned FedEx to request status updates.
By 1994, it became the first logistics company to offer a website for online tracking and allowing customers to manage shipping.
Over time, as technology advanced enough to execute Fred’s vision, FedEx paved the way for shipment tracking across the world.
Today, FedEx connects more than 220 countries, employs more than 500,000 team members globally and has over 5,000 facilities worldwide.
“Our father will be remembered as an extraordinary man whose business transformed the way the world operates, but his legacy goes well beyond FedEx," comments Samantha Atkinson and Molly Heussenstamm, two of Smith's daughters.
A lasting impact?
Fred ensured FedEx had a positive impact in communities around the world, dedicating much of his time to philanthropy and customer care.
With FedEx’s Purple Promise, team members consistently aim to make every FedEx experience outstanding for its customers, finding innovative ways to ensure customer satisfaction.
After stepping down as CEO in 2022, Fred put his energy into his role as Executive Chairman. Through this position, he focused on public policy and sustainability, ensuring FedEx was consistently meeting its high standards.
"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," Raj wrote in a memo to staff.
Beyond FedEx, Fred committed himself to supporting education, healthcare and community development, putting money back into Memphis–the place he grew up and called home.
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