Frederick Wallace Smith, an American business magnate and investor, founder and chairman of FedEx Corporation, the world’s largest transportation company, has passed away.
He was 80.
Smith stepped down as CEO in June 2022 and was succeeded by Raj Subramaniam. He was considered one of the most successful transportation entrepreneurs in the world. He had an estimated net worth of $4.8 billion as of April 2025.
Smith, who called Memphis home, was born in Marks, Mississippi, and founded FedEx in 1971 after serving in the U.S. Marines.
