Fred Smith Bio | Wiki
Fred Smith (Full name Frederick Wallace Smith) is an American business magnate and investor. He serves as the founder and chairman of FedEx Corporation, the world’s largest transportation company.
On June 1, 2022, Fred stepped down as CEO to become executive chairman and was replaced by Raj Subramaniam. He is considered one of the most successful transportation entrepreneurs in the world. Fred has an estimated net worth of $4.7 billion as of 2022 to Forbes.
After college, he was commissioned in the U.S. Marine Corps, serving for three years as a platoon leader and a forward air controller (FAC), flying in the back seat of the OV-10. He served two tours of duty in Vietnam and was honorably discharged in 1969 with the rank of captain, having received the Silver Star, the Bronze Star, and two Purple Hearts.
Fred Smith Age
Fred was born on August 11, 1944, in Marks, Mississippi, United States. He is 78 years old.
Fred Smith Height
He is a man of average stature and stands at a height of 5 ft 8 in (Approx. 1.72 m).
Fred Smith Family
He was born and raised in Marks, Mississippi by his father James Frederick Smith, and his mother. Fred’s father was the founder of the Toddle House restaurant chain and the Smith Motor Coach Company. He died when Fred was only 4, and the boy was raised by his mother and uncles. Fred was crippled by bone disease as a small boy but regained his health by age 10. He grew up alongside his siblings Fredette Eagle and Laura Ann Patterson.
Fred Smith Wife
Fred was first married to Linda Black Grisham in 1969. The two divorced in 1977. In 2006, he married Diane. Fred has ten children including Arthur, Cannon, Molly, Windland Rice, and Richard. Windland is a photographer, Molly is a film producer, and Arthur is the Atlanta Falcons head coach.
Fred Smith Education
He attended elementary school at Presbyterian Day School in Memphis and high school at Memphis University School, and became an amateur pilot as a teen. In 1962, Fred entered Yale University. While there, he wrote a paper for an economics class, outlining overnight delivery service, on which he received a “C”.
Subsequently, Fred became a member and eventually the president of the Delta Kappa Epsilon (DKE) fraternity and the Skull and Bones secret society. He received his bachelor’s degree in economics in 1966.
Fred Smith FedEx
Fred is the founder and chairman of FedEx Corporation, the world’s largest transportation company. On June 1, 2022, he stepped down as CEO to become executive chairman and was replaced by Raj Subramaniam. He is considered one of the most successful transportation entrepreneurs in the world. Fred developed FedEx on the business idea of a shipment version of a bank clearing house where one bank clearing house was located in the middle of the representative banks.
All their representatives would be sent to the central location to exchange materials. While CEO of FedEx in 2008, Fred earned a total compensation of $10,434,589, which included a base salary of $1,430,466, a cash bonus of $2,705,000, stocks granted of $0, and options granted of $5,461,575.
In June 2009, Smith expressed interest in purchasing the controlling share (60%) of the St. Louis Rams from Chip Rosenbloom and Lucia Rodriguez. In 2009, Frederick W. Smith earned a total compensation of $7,740,658, which included a base salary of $1,355,028, a cash bonus of $0, stocks granted of $0, options granted of $5,079,191, and other compensation totaling $1,306,439.
Fred Smith Forgery | Sisters
On January 31, 1975, Fred was indicted for forgery by a federal grand jury. The suit was filed by his two half-sisters Laura Ann Patterson and Fredette Smith Eagle. The lawsuit alleged Fred had forged documents to obtain a $2 million bank loan and he and executives of his family’s trust fund had sold stock from the fund for a loss of $14 million. A warrant for his arrest was issued for which he posted a bond with federal authorities in Memphis. Fred was later found not guilty on the forgery charge.
Fred Smith Marine
Following his college graduation, Fred was commissioned in the U.S. Marine Corps. He served for three years from 1966 to 1969 as a platoon leader and a forward air controller (FAC), flying in the back seat of the OV-10. He served two tours of duty in Vietnam and was honorably discharged in 1969 with the rank of captain, having received the Silver Star, the Bronze Star, and two Purple Hearts.
Fred Smith Accident
The same evening of his forgery indictment Fred was involved in a fatal hit and run in which he killed a 54-year-old handyman named George C. Sturghill. Fred was arrested and charged with leaving the scene of an accident and driving with an expired license. He was released on a $250 bond. All charges were later dismissed.
This was not the first time he was involved in a fatal car accident. During his first summer break from Yale, Fred was back in Memphis driving out to a lake with friends when he lost control of the car he was driving, causing the vehicle to flip and killing the passenger in the front seat. The cause of the accident was never determined.
Fred Smith Net Worth
He earns his wealth from his career, therefore, he has amassed a fortune over the years. Fred’s estimated net worth is $4.7 billion.
Who Is Fred Smith
Fred is an American business magnate and investor. He serves as the founder and chairman of FedEx Corporation, the world’s largest transportation company.