Smith, Frederick W. - Investment & Finance Definition
The founder of FedEx, who almost single-handedly created the overnight air-express delivery business. After writing an economics paper as a Yale undergraduate that received a grade of C, in 1973 he decided to start a company called Federal Express, at the age of 28. He started the company with $4 million from an inheritance and $80 million in venture capital funding. Today FedEx is the dominant over- night air delivery service.