Rank #714
Fred Smith
Net worth $5.3B
FedEx · United States
- Born
- Aug 11, 1944
- Age
- 81
- Source
- FedEx
- Residence
- Memphis, Tennessee
- Citizenship
- United States
- Marital status
- Children
- 10
- Education
- Bachelor of Arts/Science, Yale University
Net worth over time
Biography
- FedEx founder Fred Smith came up with the idea for the company for a term paper at Yale in 1965.
- After graduation, Smith served in Vietnam with the Marines. He returned home and launched FedEx in 1971.
- FedEx lost $29 million in its first 26 months, so Smith flew to Vegas and won $27,000 at the blackjack tables, enough to keep the business afloat.
- The company now generates nearly $90 billion in annual revenue.
- Smith announced in 2022 that he would be stepping down from his role as CEO at FedEx after 50 years; he now serves as executive chairman of the company.
- Smith was fraternity brothers at Yale with former President George W. Bush.
- Though stricken with a bone disease as a small boy, he became an excellent football player by age 10 and learned to fly at 15.
Financial assets
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