What is Frederick Smith Net Worth: Billionaire Promoter of FedEx Who Passed at 80
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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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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As FedEx CEO, Smith earned substantial annual compensation packages:
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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.
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.”
Smith is remembered not just as a corporate leader, but as a visionary who transformed global logistics and inspired generations of entrepreneurs.
Frederick Smith, FedEx Founder, FedEx CEO, Frederick Smith Net Worth, Business News, American Entrepreneurs, FedEx History, Logistics Industry, Raj Subramaniam, Aviation Hall of Fame
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