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Jim Cramer looks back on the legacy and impact of FedEx founder Fred Smith
CNBC Televisionยท2025-06-24 00:21

FedEx's Founder & Vision - Fred Smith, the founder of FedEx, passed away, marking the end of an era for a visionary leader [1] - Smith identified a need for faster mail delivery than the US Postal Service, leading to the creation of overnight mail [2] - Despite an economics professor deeming his overnight delivery thesis impractical, Smith pursued his vision after serving in the Marine Corps [2][3] - Smith's venture faced financial challenges, including burning through inheritance and venture capital, but he managed to save the company with winnings from blackjack [4][5] - Smith was a proponent of global commerce as a uniting force and embraced technological advancements like robots in logistics [5][6] Smith's Character & Legacy - Smith was humble, introducing himself simply as someone from FedEx, not emphasizing his founder or CEO status [10] - He was a dedicated Marine, serving two tours in Vietnam and receiving multiple honors [3] - Smith was charitable, supporting organizations like the American Battle Monuments Foundation [8] - Smith's creation of FedEx was a genuinely useful innovation that changed the world, similar to pioneers in Silicon Valley [9][10] - Smith's legacy extends beyond business, remembered as a good father and husband [7][11]