Net Worth & Profile
Fred Smith Biography and Career
Frederick Wallace Smith, an American business tycoon and investor, founded and chairs FedEx Corporation, the world’s largest transportation company.
Who is Fred Smith?
Fred Smith, an American business mogul, established and leads FedEx Corporation, the biggest transportation company globally.
Bio Data
| Name | Fred Smith |
| Gender | Male |
| Date of Birth | Mar 27, 1942 |
| Age | 81 years old |
| Place of Birth | Raleigh |
| Profession | Investor, Entrepreneur |
| Nationality | American |
| Net worth | $6 Billion |
Fred Smith Biography
Frederick Wallace Smith, born August 11, 1944, in Marks, Mississippi, came from a family with a strong business background. His father, James Frederick Smith, founded Toddle House and Smith Motor Coach, later known as Dixie Greyhound Lines. Sadly, Fred’s father passed when he was four, and he was raised by his mother and uncles. Despite battling a bone disease until age ten, Fred became a local football star and learned to pilot.
At Yale, he wrote an economics paper that inspired FedEx. Graduating in 1966 with George W. Bush, he served in the Marines for three years, earning honors. In 1969, Smith received an honorable discharge.
Using his inheritance and investments, he founded Federal Express two years later, paving the way for his entrepreneurial journey.
Career
Fred Smith founded Federal Express in 1971 with $4 million and raised $91 million more. By 1973, the company served 25 U.S. cities with fourteen jets. In the early days, finances were tight, and Smith famously turned his luck around in a Vegas blackjack game.
Headquartered in Memphis, Tennessee, FedEx is now one of the world’s biggest overnight express delivery companies. In March 2022, Smith shifted to executive chairman, passing the CEO role to Raj Subramaniam after a successful tenure.
Net Worth
Fred Smith has an estimated net worth of $6 billion, he is a CEO and entrepreneur, who founded and chairs FedEx Corporation, a global shipping company.
In June 2022, he transitioned to executive chairman, passing the CEO role to Raj Subramaniam. Smith is celebrated as a highly accomplished figure in the transportation industry.
Personal Life
Fred Smith married Linda Black in 1969, then Dianne Avis. They have eight children. In 2016, their son Cannon married Collins Tuohy. Smith is recognized in Fortune Magazine and faced legal challenges.
FAQs
Q: Who is Fred Smith?
A: Fred Smith is an American business magnate known for founding and chairing FedEx Corporation, a global transportation company.
Q: When did Fred Smith step down as CEO of FedEx?
A: Fred Smith stepped down as CEO on June 1, 2022, taking on the role of executive chairman.
Q: What notable achievements does Fred Smith have?
A: Fred Smith has been recognized as one of the World’s 50 Greatest Leaders by “Fortune Magazine.” He also faced legal challenges, including a forgery indictment and involvement in a hit-and-run incident.
More Articles On RNN:
Piers Linney Biography and Net Worth