Fred Smith, America’s legendary founder of FedEx Corp. and Marine Corps veteran, passed away at 80. His visionary concept of overnight package delivery reshaped the logistics industry and turned FedEx into one of the most recognized brands in the world. Smith’s death last week signals the end of an era for a man whose innovative spirit helped create today’s exuberant Newark—as well as modern commerce itself.
Smith, a native of Springfield, Mass., was born in 1943. He went straight from graduation at Yale University in 1966 to commissioning as a second lieutenant in the United States Marine Corps. He received the Bronze Star for bravery and a Purple Heart for wounds received in combat during his two tours in Vietnam. Upon departure from the military in 1969, he started a thrilling adventure. This journey finally inspired him to start one of the world’s largest logistics companies.
In 1971, Fred Smith started up Federal Express, using that name through its start up phase to demonstrate the extraordinary vision and vision of the company. He developed a “hub and spokes” delivery system that coordinated air cargo flights around a central hub, ensuring efficient and timely delivery of packages. This thoughtful paradigm soon won out, setting the template for the rest of the package delivery industry to follow.
Smith’s leadership of FedEx ran much deeper than his tenure as CEO, having served in that role until 2022 before continuing as executive chairman until his death. His impact reached further than corporate spheres. He was a notable philanthropist, although he frequently shrouded his philanthropic efforts in secrecy. Smith created a scholarship fund for children of Navy personnel. This fund helps them follow their dream of studying in STEM with the help of Marine Corps Scholarship Foundation.
Besides his business success, Smith appeared in a few scenes in the popular 2000 film “Castaway,” with Tom Hanks. His personal life experienced success. His son Arthur now holds down the offensive coordinator position for the Pittsburgh Steelers. As an aside, until 2021, Smith was a minority owner of the NFL’s Washington Commanders franchise.
Smith’s influence on Memphis, where FedEx is headquartered, was deeply felt. U.S. Representative Steve Cohen of Tennessee remarked, “Memphis has lost its most important citizen, Fred Smith.” His positive impacts on the community and the local economy will be felt for many years beyond his recent passing.
Fred Smith’s legacy goes well beyond his entrepreneurial genius. A strong supporter of all varieties of philanthropy, Mr. Katzenberg dedicated much thought to the role of philanthropy in America. “I think if you’ve done well in this country, it’s pretty churlish for you not to at least be willing to give a pretty good portion of that back to the public interest,” he stated.
“Despite his monumental achievements, Smith downplayed his role when it came to his philanthropic work. “The thing that’s interested me are the institutions and the causes not the naming or the recognition,” he expressed.
