Frederick W. Smith is an American businessman and entrepreneur best known for being the founder, chairman, and CEO of FedEx, one of the world’s largest delivery companies. Smith has a net worth of over $5 billion, making him one of the wealthiest individuals in the United States. He is also known for his philanthropic activities, having contributed to numerous charitable causes throughout his lifetime.
Frederick W. Smith: Net Worth
Frederick W. Smith is one of the wealthiest individuals in the United States, with an estimated net worth of over $5 billion. This wealth is largely thanks to his successful business ventures, particularly his role as the founder and CEO of FedEx. Smith has been with the company since its inception in 1971 and has been credited with transforming it into one of the world’s largest delivery companies.
Frederick W. Smith: Biography & Career
Frederick W. Smith was born in 1944 in Marks, Mississippi. He attended college at Yale University, where he graduated with a degree in economics in 1966. After college, Smith served in the United States Marine Corps and was deployed to Vietnam in 1968. After his military service, Smith founded FedEx in 1971 and served as its CEO until 2016.
Under Smith’s leadership, FedEx experienced exponential growth, expanding to over 220 countries and territories. Smith also oversaw the company’s transition to the digital age, introducing technologies such as online package tracking and electronic signature capture. Smith has also served on the boards of several other companies, including The New York Times Company and the Mayo Clinic.
Frederick W. Smith is a highly successful businessman and entrepreneur whose success is largely attributed to his role as the founder and CEO of FedEx. Smith has an estimated net worth of over $5 billion, making him one of the wealthiest individuals in the United States. He has also been highly involved in philanthropic activities throughout his lifetime, donating to numerous charitable causes.
Frederick W. Smith is the founder and executive chairman of the multimillion-dollar global logistics company, FedEx. Smith’s company has become a widely recognizable symbol of the economic power of the United States and is considered one of the most successful companies of all time.
The net worth of Frederick W. Smith is estimated to be a staggering 18.8 billion US dollars, making him one of the one hundred wealthiest people in the world. This immense fortune is largely thanks to the innovative idea of Smith to form FedEx in 1971 and making it into a global success.
Smith was born on August 11, 1944 in Marks, Mississippi, USA. His father, Fredrick Wallace Smith, was a wealthy cotton merchant and his mother was Maury Anne Smith. Smith went on to finish his high school in Oxford before attending Yale University.
During his college days, Smith already had some ideas about how to improve the global logistics system, which eventually led him to develop the concept of FedEx. After moving his headquarters to Memphis in 1973, Smith opened up the company for public investment and took it global.
Frederick W. Smith is also a businessman who owns luxury cars and real estate. He has owned a fleet of cars over the years including a Ferrari 612 Scaglietti, a Mercedes SLR McLaren, and a Bentley Azure. He also owns a house in a gated community in Florida and recently purchased a single-story family home in Palm Beach.
After the success of FedEx, Smith has become active in many civil and charitable activities. He is a trustee of several famous educational institutes and organizations and was recently appointed an honorary Knight Commander of the Order of the British Empire in 2019.
In addition to being a successful businessman, Smith is also a renowned politician. He ran a successful campaign in 1992 and was elected to the US Congress where he has served in different roles until he retired in 2004.
At the age of 76, Frederick W. Smith continues to lead the FedEx empire, raising the company’s revenues to an all-time high of 69.7 billion US dollars in 2020 and making him one of the top 100 wealthiest people in the world.