Fred Smith, the trailblazing founder of FedEx and a transformative force in global logistics, has died at 80.
The company confirmed his passing on 21 June, calling it a “profound loss” for the FedEx family and the business world.
Smith, who conceived the idea of overnight delivery at Yale and launched Federal Express in 1971, revolutionised the way goods were moved across the globe.
His vision has turned a 14-jet startup into a US$90 billion logistics empire that now delivers over 16 million packages daily across 220 countries.
Smith’s legacy extends far beyond FedEx’s purple-and-orange jets.
A decorated Marine Corps veteran, he served two tours in Vietnam before building one of the most influential companies in modern commerce.
Under his leadership, Memphis became a global shipping hub, and FedEx became synonymous with speed, reliability, and innovation.
Smith stepped down as CEO in 2022 but remained executive chairman until his death.
Tributes poured in from business leaders and politicians alike, with former United States President George W. Bush calling him “one of the finest Americans of our generation”.
For investors, Smith’s death marks the end of an era.
His relentless push for deregulation, global trade, and digital transformation helped shape the modern supply chain.
FedEx shares held steady following the announcement, but analysts noted that Smith’s absence could test the company’s strategic continuity.
As FedEx prepares to report earnings this week, markets wait for signs of how the company plans to honour — and extend — the legacy of its legendary founder.
At the time of writing the share price for FedEx Corp (NYSE: FDX) was US$226.04, up $2.74 (1.23%) today. It was trading at $226.97 after hours, with a market cap of around $54.16 billion.
