FedEx CEO Raj Subramaniam, who succeeded Smith as chief executive, told employees that Smith "was more than just the pioneer of an industry and the founder of our great company"1. "He was the heart and soul of FedEx – its PSP culture, values, integrity, and spirit," Subramaniam wrote1.

Smith founded Federal Express in 1971 with $4 million of his inheritance and $91 million in venture capital, launching operations in 1973 with 14 jets serving 25 cities2. The company has since grown into an $87.7 billion enterprise serving more than 220 countries and territories3.

Local leaders mourned Smith's passing, with former Memphis Mayor Jim Strickland calling him "the most important Memphian of all time"1. "He benefitted our city in every way possible, and he allowed generations of Memphians to achieve the American dream," Strickland said1.

Current Memphis Mayor Paul Young said Smith "didn't just launch a company, he changed the way the world moves"1. "In many ways, he gave our city wings," Young added1.

The company now employs more than 500,000 people worldwide and handles approximately 17 million shipments daily2.

Smith conceived the idea for FedEx as a Yale undergraduate, where he wrote about overnight delivery service in the digital age1. After serving as a Marine in Vietnam, where he earned a Silver Star, he launched the air-ground network that would reshape commerce2.

The early years were precarious. In one famous episode, when the company faced bankruptcy, Smith took the company's last $5,000 to Las Vegas and won $27,000 gambling to cover a fuel bill2.

Smith was born August 11, 1944, in Marks, Mississippi, and had an estimated net worth of $4.8 billion as of April 20252. He is survived by ten children, including film producer Molly Smith and Pittsburgh Steelers offensive coordinator Arthur Smith2.

"Fred Smith was a legend in every sense of the word, and his legacy will continue to move Memphis, and the world, forward," Young said1.