Business

FedEx Founder Fred Smith Dies at Age 80

By Jake Beardslee · June 23, 2025

Sept. 25, 1976; Memphis, TN, USA; Frederick W. Smith, president of Federal Express; Mandatory credit: Memphis Commercial Appeal-USA TODAY NETWORK via Imagn Images USA TODAY Network via Imagn Images

Frederick W. Smith, the founder and former executive chairman of FedEx, has died at the age of 80. Smith passed away on Saturday, according to a company statement.

“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,” FedEx CEO Raj Subramaniam said in a message to employees, referencing the company’s “People-Service-Profit” philosophy.

Smith graduated from Yale in 1966 and served four years in the Marine Corps, including two tours in Vietnam. He launched Federal Express in 1973 with 389 employees and 14 aircraft. On its first night, the company delivered 186 packages from Memphis to 25 U.S. cities.

He most recently served as executive chairman, focusing on board governance and broader global issues such as sustainability and public policy. Smith stepped down from the role in 2022 and was succeeded by Subramaniam.

Today, FedEx operates 705 aircraft, more than 200,000 vehicles, and about 5,000 facilities. The company employs over 500,000 people and handles approximately 17 million shipments each day.

“FedEx changed the way we live and do business,” former President George W. Bush said in a statement. Bush, a former fraternity brother of Smith at Yale, also noted, “I twice asked him to serve as Secretary of Defense, and he declined twice only because of his devotion to his family.”

In his message to FedEx staff, Subramaniam encouraged employees to reflect on Smith’s example. “As we begin to process this tremendous loss, it is important that we take care of one another and demonstrate the passion and compassion that Fred embodied every day.”