Which entrepreneur founded FedEx, originally called Federal Express, in 1971?

Frederick Smith founded FedEx, originally called Federal Express, in 1971.

Smith developed the idea while studying at Yale University and described an integrated overnight delivery system in a 1965 term paper. After serving as a U.S. Marine officer, he used inherited money and outside investment to establish Federal Express in Little Rock, Arkansas.

The company moved its operations to Memphis, Tennessee, and began service in 1973 with 14 aircraft. Its centralized air hub and overnight network helped make time-definite parcel delivery practical on a large scale.

A common mix-up is attributing FedEx's creation to a conventional freight executive. Smith's distinctive contribution was designing a hub-and-spoke air-cargo system for urgent small packages. The company adopted the shorter FedEx name in 2000.