Fred Smith is an American business entrepreneur who is most known for serving as the chairman and CEO of FedEx Corporation.
In this role, Smith has garnered a lot of attention. As of the year 2022, it is anticipated that Fred Smith’s net worth would amount to $4.6 billion.
Fred Smith Biography: Early Life, Career and University
Smith is an American business entrepreneur who is most known for serving as the chairman and CEO of FedEx Corporation. In this role, Smith has garnered a lot of attention. As of the year 2022, it is anticipated that Fred Smith’s net worth would amount to $4.6 billion.
James Frederick “Fred” Smith and Sally Wallace were Frederick Wallace Smith’s parents when he was born in August of 1944 in Marks, Mississippi. Frederick Wallace Smith was named after his grandfather. In point of fact, his father was the man behind the establishment of both the Toddle House restaurant chain and the Smith Motor Coach Company.
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When he was just four years old, his father went suddenly unexpectedly. After that, Frederick and his sisters Fredette and Laura Ann were reared by their mother and their uncles together with their mother’s other siblings.
Notably, Smith was paralyzed by bone illness when he was a small boy; nonetheless, he eventually recovered his health and returned to normal.
Fred Smith Education
Smith received his diploma from Memphis University School and then enrolled at Yale University after completing his schooling at Memphis University School. Over time, he rose through the ranks of the Skull and Bones secret organization as well as a local fraternity, eventually becoming president of both.
It is interesting to note that he was a buddy and fraternity brother of George W. Bush, who would later become President of the United States.
Fred Smith Career
After graduating from college, Smith was commissioned into the United States Marine Corps, where he completed two tours of duty in Vietnam and was eventually honorably retired with the rank of captain and two Purple Hearts.
Smith made the announcement that he will be leaving his position as CEO of FedEx in March 2022 in order to take on the role of executive chairman. His replacement is Raj Subramaniam, who has worked with FedEx for a long period.
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Last but not least, Smith was included on the “World’s 50 Greatest Leaders” list that was compiled by Fortune Magazine in 2014.
Between the years 1969 and 1977, Smith was married to Linda Black Grisham. After that, in 2006, he wed the woman he is now married to, Diane Smith. In total, he is the father of a staggering ten children.
Three of his children have gone on to have successful careers. He is the parent of Windland Smith Rice, a photographer; Molly Smith, a film producer; and Arthur Smith, the head coach of the Atlanta Falcons.
In 1975, Smith was engaged in a hit-and-run accident that resulted in the death of a handyman named George C. Sturghill, who was 54 years old. Smith fled the scene of the accident. After posting a bond of $250,000, he was allowed to go free, and the accusations against him were ultimately dropped. The Smith was involved in a tragic vehicle accident for the second time in this incident.
Net Worth of Fred Smith
The accumulation of wealth that resulted in Fred Smith’s current net worth of $4.6 billion took place over the period of fifty years. His contributions as founder, chairman, and CEO of FedEx Corporation have earned him billions of dollars throughout the course of his career. At this time, the overall assets of the corporation give it a value of $82.7 billion.
In addition to this, Smith is widely regarded as one of the most successful transportation entrepreneurs on the planet.