Fred Smith, the founder of FedEx Corp. and a prominent sports team owner, has died at the age of 80. Smith was also a former minority owner of the Washington NFL franchise, which he owned from 2003 to 2021.
Smith’s father, Arthur Smith, is the current offensive coordinator for the Pittsburgh Steelers. The company’s statement said that Smith was a “highly respected philanthropist and innovative businessman” who served his country in the US Marine Corps.
In 1999, FedEx signed a deal with the Washington NFL team worth $205 million to name its stadium, but they severed it two years early after the team changed ownership. The company still has partnerships with various sports teams and organizations, including the PGA Tour.
Fred Smith graduated from Yale in 1966 and joined the US Marine Corps before stepping down as CEO of FedEx in 2022. He made significant contributions to his company’s growth and was a “visionary” in the business world, according to the PGA Tour.
The former CEO passed away due to natural causes at the age of 80, leaving behind a legacy as a successful businessman, sports team owner, and philanthropist.
Source: https://www.espn.com/nfl/story/_/id/45561511/fred-smith-ex-washington-nfl-team-part-owner-fedex-founder-dies