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Frederick Smith the Man With the Company Which Has Changed the World

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Brief History and Early Beginnings

Frederick Smith is the owner of FedEx and is also the CEO of the company. FedEx is one of the biggest shipping companies in the world. In 2019 they had a revenue of almost 70 billion dollars. Frederick Smith’s father was similar to a future Frederick Smith, He was a businessman who founded the company, Dixie Greyhound Lines. Frederick Smith has always had the ambition to be a successful businessman. He has a net worth of $5.4 billion. Frederick Smith was born on August 11th, 1944 in Mississippi. Unfortunately for Frederick Smith his father died at the age of 4 years old. When he was very young he had a bone disease called Legg-Calve-Perthes syndrome. Federick Smith had an interest in flying planes and he even learned how to pilot airplanes. Frederick Smith went to Yale University for his studies, he studies economics. When he finished his graduation he served time with the US Marines during the Vietnam war. However, Federick Smith had to be discharged in 1970. His time with the marines was rewarded as he received two purple hearts, one bronze star, silver star and he even accomplished the rank of captain. Federick Smith during his earlier years was a great friend of US senator John Kerry and they both had the same passion for flying.

Success

After his time in the marines, He founded the company that would grant him the most success. He founded FedEx in 1971 he used his four million dollar inheritance to start the company off. In 1973 the company managed to expand and provide its ability to 25 different cities. The company was developing better than they ever fought and by the time 1983 reached they had got to one billion dollars in revenues, something that is rare for a startup company. The following year they were offering their services to Europe and Asia. The company was founded on the name Federal Express but in 1994 they shortened their name to FedEx. FedEx began realizing that they could offer more services meaning they could make more of a profit. These services included RPS and small package service. FedEx was close to finalizing a deal with British Airways however at the last minute the deal was scrapped. FedEx increased its reputation in Europe as it bought there rivals TNT Express. They bought them for a fee of 4.4 billion euros. In 2019 FedEx accumulated revenue of 69.93 billion dollars and this is all due to the hard work of Frederick Smith.

Personal Life

Federick Smith is someone who has a very big family. He has up to ten children in his family which way more than the average amount that is in a family. Federick Smith is someone who is a known republican.

Frederick Smith Quotes

“A manager is not a person who can do the work better than his men; he is a person who can get his men to do the work better than he can.”

“Beginning in 1973 and then acts in ’77, ’78, 1980, 1994 and then into the 21st century in the international arena, governments have steadily gotten out of the transportation business.”

“A Yale University management professor in response to student Fred Smith’s paper proposing reliable overnight delivery service: The concept is interesting and well-formed, but in order to earn better than a ‘C’, the idea must be feasible.”

“Leadership is simply the ability of an individual to coalesce the efforts of other individuals toward achieving common goals. It boils down to looking after your people and ensuring that, from top to bottom, everyone feels part of the team.”

“My four years in the Marine Corps left me with an indelible understanding of the value of leadership skills.”

“If you look historically, what creates growth and wealth is innovation and investment, and increase in scale – more customers.”

“Every time we make an investment decision at FedEx, we ask ourselves: ‘What is the return on this investment?”

“A lot of the economy is indeed being supplied by goods that are produced offshore. And much of the reason for that is societal.”

“The biggest part of our business has always been moving things, not paper. With the Internet, people in Mississippi can buy things from Macedonia, without regard to time or place, or quantity.”

“The United States tax system today is very prejudiced towards financialization, leverage, and lack of investment.”

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