FedEx Founder and Parcel Industry Pioneer Dead at 80

Fred Smith’s company generates $88B in revenue after starting as an air-ground network with handful of aircraft.

Eric Kulisch

Monday, June 23, 2025 at 11:00 AM ET

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Edited By:

Travis Tingle

A Fedex 767 in Las Vegas [Credit: AirlineGeeks/ William Derrickson]

Key Takeaways:

Fred Smith, the visionary founder of FedEx Express Corp., passed away at 80, having revolutionized the parcel delivery business with his overnight air delivery model.
Starting from a college paper idea and using his inheritance, Smith built FedEx into an $87.7 billion global enterprise with the world's largest air cargo fleet, significantly impacting U.S. and international trade.
Smith's entrepreneurial spirit led him to overcome significant early challenges, including using gambling winnings to save the company, proving the viability of his innovative logistics system.

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Fred Smith, who founded FedEx Express Corp. 54 years ago and revolutionized the parcel delivery business by using aircraft for overnight delivery, died Saturday, the company said on its website. He was 80.

“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 people-service-profit culture, values, integrity, and spirit,” said CEO Raj Subramaniam in a message to FedEx employees. “He was a mentor to many and a source of inspiration to all. He was also a proud father, grandfather, husband, Marine, and friend. Please keep the entire Smith family in your thoughts and prayers during this difficult time.”