Frederick W. Smith
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Frederick W. Smith (born August 11, 1944) is the founder of Federal Express, or FedEx, the first overnight express delivery company in the world, and the largest in the United States. The company is based in Memphis, Tennessee.
Fred Smith was born in Marks, Mississippi. He received his bachelor's degree in economics from Yale University in 1966, where he wrote a paper on the idea of FedEx (which has been embellished to an urban legend state), became a member of Skull and Bones, and then served in the US Marine Corps for five years as a platoon leader and pilot, where he observed the military's logistics system as well as undertaking a tour of duty during the Vietnam War. After being honorably discharged, Smith purchased the controlling interest in an aircraft maintenance company, Ark Aviation Sales, and by 1971 turned its focus to trading used jets. On June 18, 1971, Smith founded Federal Express with $91 million in venture capital and his $4 million inheritance. In 1973, the company began offering service to 25 cities.[link]
A classmate of George W. Bush while at Yale there was some specualtion that he could be appointed as Defense Secretary when Bush assailed to the White House. Despite some speculation and even pushing from former Senator and Reagan Chief of Staff Howard Baker he was not appointed. Donald Rumsfeld was named instead.
He has a cameo appearance as himself in Cast Away, a film about a FedEx employee who is stranded on a deserted island after his plane crashes.
External links
- [Profile in Fortune Magazine's Innovators Hall of Fame]
- [Article by Smith on how Fedex came to be and includes the story of the paper he wrote while at Yale]
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