From launching FedEx with his inheritance to influencing U.S. policy and business, Frederick W. Smith’s $6 billion empire reflects a life of innovation, leadership, and patriotic service.
June 23, 2025 | New York:
Frederick Wallace Smith, the visionary founder of FedEx and a titan of the global logistics industry, passed away on Saturday, June 21, at the age of 80. Beyond revolutionizing package delivery, Smith leaves behind an estimated net worth of $6 billion, a powerful legacy that shaped not only commerce but also American policy and philanthropy.
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📦 How Frederick Smith Built FedEx from the Ground Up
In 1971, Smith launched Federal Express (now FedEx) with a $4 million inheritance—worth nearly $23 million today. He went on to raise $91 million in venture capital, enabling the company to begin operations with 14 aircraft servicing 25 U.S. cities by 1973. What began as a bold logistics concept eventually became a cornerstone of global trade and supply chain innovation.
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💼 Career Earnings and Compensation
As FedEx CEO, Smith earned substantial annual compensation packages:
- 2008 Total Compensation: $10.4 million
- Base salary: $1.4 million
- Bonus: $2.7 million
- Stock options: $5.5 million
- 2009 Salary: Over $7.7 million
- Stepped down as CEO in March 2022, transitioned to Executive Chairman
- Succeeded by Raj Subramaniam
🏈 Beyond Business: Political Ties & Public Service
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Smith maintained strong political connections, especially with Presidents George W. Bush and John McCain. He was a staunch advocate for free trade and minimal tariff barriers, often engaging directly with U.S. Congress and presidential campaigns. He reportedly declined an offer to serve as U.S. Defense Secretary under Bush.
🛩️ Board Memberships & Philanthropy
- Co-owner of NFL’s Washington Commanders
- Board member at Mayo Foundation and St. Jude Children’s Research Hospital
- Inducted into the Aviation Hall of Fame
🕊️ Tributes Pour In
In a heartfelt message, current FedEx CEO Raj Subramaniam said:
“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. He was a mentor to many and a source of inspiration to all.”
🧾 Legacy at a Glance
- Name: Frederick Wallace Smith
- Net Worth: $6 Billion
- Age at Death: 80
- Company Founded: FedEx (1971)
- Military Service: U.S. Marine Corps Veteran
- Cause of Death: Not publicly disclosed
- Date of Passing: June 21, 2025
Smith is remembered not just as a corporate leader, but as a visionary who transformed global logistics and inspired generations of entrepreneurs.
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Frederick Smith, FedEx Founder, FedEx CEO, Frederick Smith Net Worth, Business News, American Entrepreneurs, FedEx History, Logistics Industry, Raj Subramaniam, Aviation Hall of Fame