FedEx Corporation
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Founders
Frederick W. Smith · Founded 1971 · Memphis, Tennessee
Quick Answer
FedEx was founded by Frederick W. Smith in 1971 in Memphis, Tennessee. The company is currently led by Raj Subramaniam.
Frederick W. Smith developed the core idea for an overnight delivery network while studying at Yale, then founded Federal Express in 1971. The company moved operations to Memphis and launched commercial service in April 1973, creating a new express-delivery category.
Founder of Federal Express and architect of the hub-and-spoke overnight delivery model.
Smith founded Federal Express in 1971, began commercial operations in 1973, and led the company for decades as it built a global express and logistics network.
Raj Subramaniam
President and Chief Executive Officer
Subramaniam is leading FedEx through DRIVE, Network 2.0, integrated air-ground operations, and the planned FedEx Freight separation.
Frederick W. Smith
Founder and Executive Chairman
Smith founded FedEx and built the hub-and-spoke express delivery model into a global logistics network.
John A. Smith
President and CEO, Federal Express
Smith leads the integrated Federal Express operating company as FedEx combines express, ground, and related network operations.
The company was founded entirely by Frederick W. Smith in 1971.
Smith served two highly decorated tours in Vietnam as a US Marine Corps officer. He closely observed the military's highly efficient, massive logistics system, realizing that the civilian world desperately needed a centralized, highly disciplined network to transport high-value items rapidly.
Family wealth. Fred Smith inherited roughly $4 million from his father (who founded the Dixie Greyhound Bus Lines). He aggressively used his entire massive inheritance, plus millions from venture capitalists, to buy a fleet of 14 Dassault Falcon 20 jets.
It was a massive disaster. On April 17, 1973, the highly anticipated first night of operations, the entire massive network of 14 planes delivered a grand total of 186 packages. The company bled millions of dollars for two years before finally becoming profitable.
Mostly. The massive Tom Hanks movie was filmed at the actual FedEx Superhub in Memphis with the complete, highly aggressive cooperation of Fred Smith (who makes a cameo). While FedEx did not pay for product placement, it resulted in absolute billions in free, legendary global advertising.