Frederick W. Smith - Early Years

Early Years

Smith was born in Marks, Mississippi, the son of James Frederick Smith — who (before age 20) dropped his first name, expressing a preference to be known as Fred or Frederick — the founder of the Toddle House restaurant chain and the Smith Motor Coach Company (renamed the Dixie Greyhound Lines after The Greyhound Corporation bought a controlling interest in 1931). Fred Smith, the father, died while Smith the son was only 4, and the boy was raised by his mother and uncles.

Smith had a great interest in flying, and became an amateur pilot as a teen. He attended elementary school at Presbyterian Day School and high school at Memphis University School.

In 1962, Smith entered Yale University. While attending Yale, he wrote a paper for an economics class, outlining overnight delivery service in a computer information age. Folklore suggests that he received a C for this paper, although in a later interview he claims that he told a reporter, "I don't know what grade, probably made my usual C", while other tales suggest that his professor told him that, in order for him to get a C, the idea had to be feasible. The paper became the idea of FedEx (for years, the sample package displayed in the company's print advertisements featured a return address at Yale). Smith became a member and eventually the President of the Delta Kappa Epsilon fraternity and the secret society Skull and Bones. He received his Bachelor's degree in economics in 1966. In his college years, he was a friend and DKE fraternity brother of George W. Bush. Smith was also friends with John Kerry and shared an enthusiasm for aviation with Kerry and was a flying partner with him.