Tycoon dies at 80 after building billion-dollar empire and raising 10 children
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When you think of the world’s most influential business leaders, names like Steve Jobs, Richard Branson, and Bill Gates might spring to mind.
But for anyone who’s ever tracked a parcel, sent a birthday gift across the country, or relied on overnight delivery, his legacy is just as monumental—if not more so.
The billionaire founder of FedEx, a company that revolutionised the way the world moves goods, has passed away at the age of 80, leaving behind not only a global empire but also a family of 10 children and a story that’s as fascinating as any business thriller.
Fred Smith’s journey began long before FedEx became a household name.
After graduating from Yale University, Smith took a business theory he’d developed during his studies and turned it into a real-world solution for a growing problem: how to get packages delivered faster and more reliably than the postal service could manage.
His answer is the now-famous 'hub and spokes' system, which coordinated air cargo flights through a central hub—Memphis International Airport.
In 1973, with just 14 small aircraft and a vision, Smith launched Federal Express.
The company started by serving 25 American cities, but it didn’t take long for the idea to catch on.
Today, FedEx delivers a jaw-dropping 17 million parcels every single day, connecting people and businesses across the globe.
At the time of his passing, Smith’s net worth was estimated at $5.3 billion (about $8.3 billion Aussie dollars).
But he wasn’t just about the bottom line. Smith was a noted philanthropist, donating millions to causes close to his heart, most notably the Marine Corps Scholarship Foundation.
This wasn’t just a random act of charity; Smith himself served four years in the Marine Corps, and he often credited his military experience, rather than his Ivy League education, as the proper foundation of his business acumen.
In a 2023 interview, Smith said, 'Everything I needed to know to run FedEx, I learned in the Marines.' It’s a sentiment that speaks volumes about his values: discipline, leadership, and service.
Smith’s influence extended far beyond the boardroom. Former Memphis mayor Jim Strickland called him 'the most significant Memphian in history,' praising his contributions to the city and the opportunities he created for generations of locals.
'He benefited our city in every way possible and allowed generations of Memphians to achieve the American dream,' Strickland said.
Smith stepped down as CEO of FedEx in 2022 but remained involved as executive chairman, guiding the company through turbulent times and ensuring its continued growth.
The news of Smith’s passing has prompted an outpouring of tributes from politicians, business leaders, and everyday people whose lives were touched by his work.
Tennessee Senator Marsha Blackburn summed it up: 'His leadership and innovation transformed global commerce, and he will be remembered for his relentless drive, patriotism, and commitment to service.
His legacy will endure not only through the company he built but through the countless lives he touched.'
Despite his immense wealth and influence, Smith was also a devoted family man, leaving behind 10 children.
While the cause of his death has not yet been confirmed, his legacy is already secure—not just in the billions he amassed, but in the lives he changed and the industry he transformed.
It’s easy to take for granted the convenience of next-day delivery or the ability to send a parcel halfway around the world with just a few clicks. But none of this would have been possible without Fred Smith’s vision and determination.
His 'hub and spokes' model is now standard practice in logistics, and his relentless pursuit of efficiency has set the benchmark for the entire industry.
For our Seniors Discount Club members, Smith’s story is a powerful reminder that it’s never too late to innovate, give back, or make a difference.
Whether you’re running a business, volunteering in your community, or simply helping out the grandkids, the values of hard work, service, and vision never go out of style.
Credit: YouTube
Did you ever use FedEx, or do you have a story about a parcel that made it just in time thanks to their service? What do you think about Fred Smith’s legacy? We’d love to hear your thoughts and memories—share them in the comments below.
Read more: ‘He always thought big’: Beauty mogul behind Estée Lauder has died at 92—his legacy still inspires
But for anyone who’s ever tracked a parcel, sent a birthday gift across the country, or relied on overnight delivery, his legacy is just as monumental—if not more so.
The billionaire founder of FedEx, a company that revolutionised the way the world moves goods, has passed away at the age of 80, leaving behind not only a global empire but also a family of 10 children and a story that’s as fascinating as any business thriller.
Fred Smith’s journey began long before FedEx became a household name.
After graduating from Yale University, Smith took a business theory he’d developed during his studies and turned it into a real-world solution for a growing problem: how to get packages delivered faster and more reliably than the postal service could manage.
His answer is the now-famous 'hub and spokes' system, which coordinated air cargo flights through a central hub—Memphis International Airport.
FedEx founder and father of 10 was confirmed dead at age 80, with the cause of death yet to be disclosed. Credit: Facebook
In 1973, with just 14 small aircraft and a vision, Smith launched Federal Express.
The company started by serving 25 American cities, but it didn’t take long for the idea to catch on.
Today, FedEx delivers a jaw-dropping 17 million parcels every single day, connecting people and businesses across the globe.
At the time of his passing, Smith’s net worth was estimated at $5.3 billion (about $8.3 billion Aussie dollars).
But he wasn’t just about the bottom line. Smith was a noted philanthropist, donating millions to causes close to his heart, most notably the Marine Corps Scholarship Foundation.
This wasn’t just a random act of charity; Smith himself served four years in the Marine Corps, and he often credited his military experience, rather than his Ivy League education, as the proper foundation of his business acumen.
In a 2023 interview, Smith said, 'Everything I needed to know to run FedEx, I learned in the Marines.' It’s a sentiment that speaks volumes about his values: discipline, leadership, and service.
Smith’s influence extended far beyond the boardroom. Former Memphis mayor Jim Strickland called him 'the most significant Memphian in history,' praising his contributions to the city and the opportunities he created for generations of locals.
'He benefited our city in every way possible and allowed generations of Memphians to achieve the American dream,' Strickland said.
The news of Smith’s passing has prompted an outpouring of tributes from politicians, business leaders, and everyday people whose lives were touched by his work.
Tennessee Senator Marsha Blackburn summed it up: 'His leadership and innovation transformed global commerce, and he will be remembered for his relentless drive, patriotism, and commitment to service.
His legacy will endure not only through the company he built but through the countless lives he touched.'
Despite his immense wealth and influence, Smith was also a devoted family man, leaving behind 10 children.
While the cause of his death has not yet been confirmed, his legacy is already secure—not just in the billions he amassed, but in the lives he changed and the industry he transformed.
It’s easy to take for granted the convenience of next-day delivery or the ability to send a parcel halfway around the world with just a few clicks. But none of this would have been possible without Fred Smith’s vision and determination.
His 'hub and spokes' model is now standard practice in logistics, and his relentless pursuit of efficiency has set the benchmark for the entire industry.
For our Seniors Discount Club members, Smith’s story is a powerful reminder that it’s never too late to innovate, give back, or make a difference.
Whether you’re running a business, volunteering in your community, or simply helping out the grandkids, the values of hard work, service, and vision never go out of style.
Credit: YouTube
Read more: ‘He always thought big’: Beauty mogul behind Estée Lauder has died at 92—his legacy still inspires
