Frederick W. Smiths Impressive Net Worth

Discover the Wealth of Frederick Wallace Smith
$4.7 Billion

Insight into Frederick Wallace Smith’s Life

Frederick Wallace Smith, born on August 11, 1944, in Marks, Mississippi, the USA, to Sally and James Frederick Smith, stands as an entrepreneurial icon renowned for founding FedEx, a global delivery services company.

As a prominent businessman, Fred Smith’s financial status is valued at an astounding $4.7 billion, as of early 2016. His entrepreneurial ventures have propelled him to significant wealth; in 2015, Smith ranked 171 on the Forbes 400 list and 144 among US billionaires.

Fred Smith’s Financial Standing: $4.7 Billion

Smith’s father, also named Fred Smith, achieved millionaire status through his enterprises, which included the Toddle House restaurant chain and the Smith Motor Coach Company, later integrated into Greyhound Bus Lines. Fred Smith senior’s passing when Fred Smith Jr. was four necessitated his upbringing by his mother in Memphis, Tennessee. Overcoming hip arthritis at 10, Smith excelled in football, nurturing a passion for flying that led to his becoming a skilled amateur pilot. After graduating from Memphis University School, Yale University welcomed Smith in 1962 for an economics education, during which he penned a business concept for an overnight package delivery service nationwide, which steered his trajectory towards triumph.

Post-Yale graduation in 1966, Smith enlisted in the US Marine Corps, underwent flight training, and partook in the Vietnam War, receiving distinguished accolades as a Captain upon an honorable discharge in 1969.

Returning to the US in 1970, Smith committed to realizing his Yale-conceived delivery service vision, acquiring a controlling stake in Ark Aviation Sales, an aircraft maintenance firm owned by his then father-in-law. Expanding into corporate jet trading, the company thrived, generating approximately $9 million in annual revenue, boosting Smith’s net worth. A $91 million venture capital injection, coupled with his $4 million inheritance, jumpstarted the Federal Express Corporation, offering 24-hour air-ground package deliveries. Initially turbulent, the company’s fortunes rebounded post-1976, ushering in profitability and expansive service offerings, transforming it into a premier express delivery service provider with an extensive global delivery network. By 1984, revenues had soared to $1 billion, significantly augmenting Smith’s financial portfolio.

Since its inception, FedEx has enjoyed sustained growth and innovation, leveraging the digital commerce surge and global economy integration for success. The 1994 rebrand to FedEx Corporation propelled Smith into the upper echelons of wealth, solidifying his standing as an express delivery industry titan, with annual revenues eclipsing $16.7 billion.

Beyond founding, leading, and driving FedEx’s success, Smith co-owns the Washington Redskins football team and helms entertainment ventures such as Dream Image Productions and Alcon Films. He has also graced the boards of several corporations, earned entry into prestigious halls of fame, and garnered multiple awards. Notably, Smith’s camaraderie with President Bush at Yale led to two cabinet offers, which he graciously declined.

On the personal front, Smith wed Linda Black Grisham in 1969, with whom he shares two children before their 1977 divorce. Subsequent to this, Smith tied the knot with Diane Avis, welcoming eight children into their family.

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